The U.S. Department of the Treasury announced that it and the Kingdom of Saudi Arabia have signed two new cooperation frameworks to deepen financial and economic engagement, including joint work on multilateral policy priorities and cross-border capital markets activity. The Financial and Economic Partnership Arrangement, signed by Secretary Scott Bessent and Finance Minister Mohammed Aljadaan, sets out cooperation on priorities at the World Bank, International Monetary Fund and G20, and continues coordination on anti-money laundering and counter-terrorist financing. A separate Arrangement Regarding Capital Markets Collaboration is intended to improve the efficiency and effectiveness of capital markets activity between the two jurisdictions, with a focus on capital markets technology, standards and regulation, with Treasury leading the US engagement in coordination with key regulators. Treasury also welcomed a Strategic Framework for Cooperation on securing supply chains for uranium, metals, permanent magnets and critical minerals, and said it has agreed in principle with Saudi Arabia’s Zakat, Tax and Customs Authority on the text of a Tax Information Exchange Agreement to support efforts to prevent and punish cross-border tax abuse and fraud.
U.S. Department of the Treasury 2025-11-18
U.S. Department of the Treasury signs financial partnership and capital markets collaboration arrangements with Saudi Arabia
The U.S. Department of the Treasury and Saudi Arabia signed two cooperation frameworks to enhance financial and economic engagement, focusing on multilateral policy priorities and cross-border capital markets. The Financial and Economic Partnership Arrangement involves collaboration with the World Bank, IMF, and G20, while another arrangement aims to improve capital markets efficiency and regulation. Additionally, a Strategic Framework for Cooperation on securing critical minerals supply chains and a Tax Information Exchange Agreement have been agreed upon in principle.