Pakistan’s Aurangzeb pushes for bigger role of emerging economies in global governance

Pakistan’s Finance Minister Senator Muhammad Aurangzeb said emerging markets and developing economies should have a stronger and more representative role in global economic governance, arguing their growing contribution to global output must translate into greater influence in international decision-making.

Speaking to the Saudi Press Agency on the sidelines of the second AlUla Conference for Emerging Market Economies, Aurangzeb said rising geopolitical tensions, trade fragmentation and rapid technological change, particularly in artificial intelligence, were reshaping the global economy and required coordinated policy responses.

He described the AlUla Conference as a timely and structured platform that brings together finance ministers and central bank governors to discuss global economic challenges, and thanked Saudi Arabia for hosting the forum.

Aurangzeb said the global economic landscape had shifted significantly since the inaugural conference, reinforcing the need for deeper cooperation among emerging economies.

“Emerging markets and developing economies now account for a substantial share of global output and growth. Their expanding economic weight must be reflected in global governance structures,” he said.

He added that such forums should move beyond dialogue and focus on tangible outcomes, stressing that implementation of policy commitments over the year should be the key measure of success.

The finance minister expressed confidence that the conference would help strengthen coordination among emerging economies and amplify their collective voice in shaping a more inclusive and resilient global economic order.