Emerging economies must have greater say in global governance, says finance minister

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has called for a stronger and more representative role for emerging markets and developing economies in global economic governance, saying their growing contribution to global growth must be matched with greater influence in decision-making forums.

Speaking in an interview with the Saudi Press Agency (SPA) during the second edition of the AlUla Conference for Emerging Market Economies, the finance minister stressed the need for coordinated policy responses amid rising geopolitical tensions, trade fragmentation and rapid technological transformation, particularly in artificial intelligence.

He appreciated the Kingdom of Saudi Arabia for hosting the conference, describing it as a timely and structured platform that brings together finance ministers and central bank governors to exchange views in an increasingly complex global economic environment.

READ MORE: Aurangzeb speaks at moot organised by KSA, IMF

Aurangzeb noted that since the inaugural edition of the AlUlafinan Conference, the global economic landscape has undergone significant shifts, reinforcing the urgency for deeper cooperation among emerging economies.

“Emerging markets and developing economies now account for a substantial share of global output and growth. Their expanding economic weight must be reflected in global governance structures,” he said.

The minister underlined that such forums should go beyond dialogue and deliver tangible outcomes.

“It is not merely about discussions, but about translating deliberations into concrete policy actions and ensuring execution over the course of the year,” he said, emphasizing implementation as the key measure of success.

He expressed confidence that the conference would help strengthen coordination among emerging economies and amplify their collective voice in shaping a more inclusive, resilient and representative global economic order.