OPEC Fund official urges expansion of Arab Coordination Group's activities

BAKU, Azerbaijan, June 17. The time has come for the expansion of Arab Coordination Group's activities to strengthen private sector synergies and build a collective pipeline of global investment opportunities, Said Taufik Ridha, Director of Business Development at the Private Sector Department of the OPEC Fund for International Development, said, Trend's correspondent reports from the event.

He made the remark during a meeting of the Arab Coordination Group on the private sector within the framework of the IsDB Group Annual Meeting in Baku.

"Cooperation between ACG members is truly impressive. Over the past 50 years, we have implemented a huge number of projects and achieved significant success. Recently, I have also observed how much Latin American and African countries are interested in cooperating with the ACG and strive to take advantage of its opportunities. However, despite all this, the ACG's activities over the years have been mainly focused on sovereign financing. Perhaps it is time to expand this focus, which aligns with the theme of our discussion today—how to enhance synergy in working with the private sector among ACG members," he said.

Said Taufik Ridha noted that it is necessary to create a collective investment deal pipeline.

"No less important is the exchange of knowledge and experience. We need a platform where we can discuss the changes taking place today in the world and in the field of development, analyze new challenges and opportunities, as well as jointly look for ways to increase the efficiency of our work," the OPEC Fund representative said.