The Kingdom of Saudi Arabia warned about the consequences of the war in Gaza on the global economy, urging for "de-escalation in the ongoing bloody conflict for nearly seven months," during a special meeting of the World Economic Forum attended by several international mediators. Saudi Minister of Finance Mohammed Al-Jadaan stated in his speech at the forum, "When there are conflicts in your region, it creates a lot of pressure on feelings and mood; and it is no secret that the economy is influenced by the general mood." He added, "In Saudi Arabia, over the past few years, we have set a clear strategic goal, which is to reduce tensions in the region." He continued, "The region needs stability; it truly needs to focus on its people and their growth and economy instead of politics and disputes."
Separately, Saudi Minister of Economy and Planning Faisal Al-Ibrahim said in a press conference on Saturday, on the eve of the forum, that "the world today is walking on a tightrope, trying to achieve a balance between security and prosperity."
On another note, the Saudi Foreign Minister Prince Faisal bin Farhan chaired a meeting of the ministerial committee tasked by the extraordinary Arab Islamic summit regarding developments in the Gaza Strip. The meeting was attended by foreign ministers from Jordan, Egypt, and Turkey, the Secretary-General of the Organization of Islamic Cooperation, the Secretary of the Executive Committee of the Palestine Liberation Organization, the Minister of Civil Affairs, and the Minister of State in the Qatari Ministry of Foreign Affairs. The meeting discussed mechanisms to intensify Arab and Islamic work to achieve an immediate ceasefire, ensure the protection of civilians, deliver humanitarian aid, and continue efforts aimed at gaining international recognition of the independent Palestinian state along the borders of June 4, 1967, with East Jerusalem as its capital.
