Saudi Finance Minister Mohammed Al-Jadaan conducted a video conference with US Treasury Secretary Scott Bessent to discuss the enhancement of financial and economic cooperation between Saudi Arabia and the United States.

In a statement shared on social media, Al-Jadaan highlighted the focus on bilateral relations and key global and regional economic developments.

The US Department of the Treasury underscored the importance of collaborative efforts to tackle both challenges and emerging opportunities within the Middle East and on a global scale.

This meeting reflects ongoing attempts to strengthen the economic ties between the two countries amidst a dynamic international financial landscape.

Recent data indicated that Saudi Arabia's investments in US Treasury bonds experienced a notable increase, rising approximately 4.17 percent year-on-year to reach $137.5 billion by December 2024, up from $132 billion in December 2023. This growth places Saudi Arabia as the 17th largest holder of US Treasury securities.

On a monthly basis, the Kingdom's bond holdings also rose by 1.4 percent, reflecting an increase of $1.9 billion from November 2024's figure of $135.6 billion.

Moreover, total foreign holdings of US Treasury bonds surpassed $8.5 trillion by the end of December 2024, an increase compared to approximately $7.9 trillion in the previous year, indicating a broader trend of rising foreign investment in US debt instruments.