Riyadh– The Ministry of Economy and Planning, in partnership with the United Nations Office for South-South Cooperation and the United Nations Development Programme (UNDP), held a session at the Future Investment Initiative Institute (FII)-7 conference, emphasizing the importance of cooperation within the Global South and highlighting Saudi Arabia's contributions.

The session, entitled "Unleashing the South-South Potential: Driving Economic Growth in Emerging Markets," aimed to leverage South-South cooperation (SSC) South-South and triangular cooperation (SSTC) to form new partnerships and achieve the growth objectives of the Global South. Government representatives, international organizations, donors, private sector entities, NGOs, and civil society were brought together to participate in this collaborative effort.

HE Ammar Nagadi, Vice Minister of Economy and planning, said: “Saudi Arabia has proudly walked this path alongside the Global South for more than five decades. In 1978, Saudi played a pivotal role in supporting the Buenos Aires Plan of Action (BAPA). Since then, we aimed to uplift and empower our partner nations through bilateral partnerships, capability programs, and since 2012 a provision of over $40 billion dollars in Official Development Assistance with the most recent contribution amounting to $800 million in loans through the Saudi Fund for Development for development projects in LDCs.”

“Furthermore, the strides we've made in achieving SDGs and in advancing sectors like healthcare, education, digitalization, youth empowerment and economical developmental growth aren't just milestones; they are living proof of what south south cooperation can accomplish by nurturing partnerships and deepening our bonds with the Global South.”

With the upcoming COP 28, the relevance of SSC and SSTC to the Sustainable Development Goals (SDGs) agenda and economic growth was also discussed. SSC and SSTC plays a crucial role in achieving the SDGs and fostering economic growth, serving as a testament to the strength of unity, shared purpose, and mutual respect. Nahid Hussein, UNDP Resident Representative in Saudi Arabia, stated, “The Kingdom of Saudi Arabia has much to offer the SSTC and multilateralism in advancing the achievement of the SDGs and to collectively further those who have been left behind. UNDP reaffirms its commitment to strengthen capacities in the Kingdom for SSTC by offering its expertise, network and presence in Saudi Arabia and globally”.

“In today's rapidly changing world, as governments and intergovernmental organizations seek innovative ways to tackle global development challenges, South-South cooperation has become essential”, said Dima Al-Khatib, Director of the United Nations Office for South-South Cooperation. “Countries of the Global South – which make up 80 percent of the global population – share common development challenges. Through South-South cooperation, they are pooling resources, experiences, and solutions in ways that are both sustainable and mutually beneficial.”

The Ministry of Economy and Planning, along with UNDP and UNOSSC, reiterated their commitment to advancing SSTC as a means to achieving the SDGs and promoting economic growth. The session provided a platform for knowledge exchange, collaboration, and the formation of impactful partnerships for sustainable development.

For more information, please contact: 

UNDP: Fatma Elzahraa Yassin, Regional Communications Advisor at fatma.yassin@undp.org 

UNOSSC: Mithre Sandrasagra, Communications Specialist at mithre.sandrasagra@unossc.org

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About UNDP

UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and planet.

About UNOSSC

The United Nations Office for South-South Cooperation promotes, coordinates and supports South-South and triangular cooperation globally and within the United Nations system. We work to enhance South-South and triangular cooperation as means to accelerate the speed and scale of action towards the achievement of the Sustainable Development Goals.