Iran’s Minister of Economic Affairs and Finance Abdolnaser Hemmati says he will travel to Saudi Arabia on Saturday to attend an international conference for Emerging Market Economies.

According to The Iran Project, “Today I will depart for Saudi Arabia at the invitation of my Saudi counterpart and the head of the International Monetary Fund,” the Iranian minister said on his X account early on Saturday.

He said that he would attend the high-level annual conference on emerging markets, which is set to be held in the Saudi city of AlUla on February 16-17.

“In the next two days, the Conference for Emerging Market Economies will be held with the presence of economy ministers, central bank chiefs and top policymakers, aiming to promote comprehensive progress and economic resilience through international cooperation,” Hemmati further said in his post shared in Persian.

He added that the event serves as an opportunity for bilateral talks with officials of regional countries on developing economic and financial relations.

The AlUla Conference for Emerging Market Economies is co-organized by the Saudi Finance Ministry and the International Monetary Fund (IMF).

The conference will “offer a unique platform to exchange views on domestic, regional and global economic developments and discuss policies and reforms to spur inclusive prosperity and build resilience supported by strong international cooperation,” Saudi Finance Minister Mohammed Aljadaan and IMF Chief Kristalina Georgieva said in a joint statement on November 24 when they announced the conference.