Saudi Arabia economy minister says Riyadh ready to work with Trump amid US-China tensions

Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim has affirmed the Kingdom’s readiness to engage constructively with the second Trump administration, emphasizing a stable long-term strategy amidst US-China tensions.

Alibrahim outlined Saudi Arabia’s diplomatic efforts to maintain regional stability and accelerate economic diversification during an interview on the sidelines of the World Economic Forum (WEF).

“We look forward to working with the second Trump administration, as we have worked with previous administrations, to address and counter some of the global challenges we’re facing, including the tepid economic growth that we’re witnessing as a global community today,” he said, reflecting on the two parties’ alliance that has spanned eight decades.

The minister highlighted Saudi Arabia’s enduring relationship with China, suggesting a balanced foreign policy in light of the potential escalation of the US-China trade war under the incoming administration.

“We have a very strong relationship with the US and a very strong relationship with China and many strong relationships with many countries,” Alibrahim said.

“[For] Saudi Arabia, the important thing to focus on is that we’ve always played a meaningful constructive role with all our partners. We are steadfast in investing and fostering global dialogue,” he added.

The minister’s comments come at a time when Saudi Arabia has been actively involved in diplomatic efforts, including brokering key agreements in Yemen and Lebanon.

“The Kingdom has always played a leadership role globally and a leadership role in the region. It’s always been a force for more stability and more peace and more security in the region and globally,” he stated, when asked if there might be more to come.

In the realm of economic transformation, Alibrahim shed light on the Kingdom’s commitment to its Vision 2030 goals, which aim to diversify the Saudi economy away from oil dependence.

“No country on Earth today is witnessing the vast opportunities that are being created in the kingdom. And they’re not being created because we want to increase FDI. They’re being created because we are on a serious mission to restructure our economy and unlock the human potential of people in Saudi Arabia,” he explained.

“We’re seeing more entrepreneurs, even Saudi entrepreneurs, coming back to the kingdom, rebasing in the kingdom, in the region, or from outside of the region who want to start opportunities here,” he said.

Faisal bin Fadhil Alibrahim described the Kingdom’s dual perspective on its economy, during the discussion: “We like to look at the world, or like to look at things in two lenses. One is where we are today and why, and the other is about future prospects, future potential,” he said.

Looking ahead, Alibrahim provided economic projections that underscored a positive trajectory anticipated as part of the Vision 2030 reforms. “Our non-oil growth in 2024 was 3.9 percent. Our non-oil growth for 2025 we project it to be 4.8 percent and 2026 6.2 percent,” he shared.

He was grounded yet optimistic on the Kingdom’s current accomplishments. “We are looking at our success and our progress with pride. We’re not over celebrating. We know the job is still in the middle of the journey, and there’s a lot more serious work to be done.”

Expanding on the strategic vision, he emphasized the importance of efforts beyond immediate gains. “What’s important is not just what we achieve in 2025, it’s also what we’re laying the ground for in terms of achieving in the long term.”