According to Shada, Abdulnaser Hemmati, who traveled to Saudi Arabia to attend the annual conference on challenges and opportunities facing emerging economies, met with Abdulhamid Alkhalifa, head of the OPEC Fund for International Development.

The economy minister said of the meeting: "Good agreements were reached with the Opec Fund president so that Iranian contractors and those who provide technical and engineering services can use the financial resources they provide to countries."

He continued: "As an active member of Opec, we will have greater participation in meetings and conferences, and representatives of this fund will also come to Iran to expand cooperation at the regional level by exchanging views with our chamber of commerce and economic activists."

The AlUla conference is co-organized by the Saudi finance ministry and the International Monetary Fund (IMF).

In a joint statement issued on November 24, Saudi Finance Minister Mohammed Aljadaan and IMF Chief Kristalina Georgieva emphasized that the conference would provide a unique platform for exchanging views on domestic, regional, and global economic developments while discussing policies and reforms designed to promote inclusive prosperity supported by robust international collaboration.

The conference will bring together a select group of finance ministers, central bank governors, and policymakers from emerging markets, as well as leaders from the public and private sectors, international institutions, and academics.