Geneva, December 07, 2023,Dr. Majid bin Abdullah Al-Qasabi, the Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC), emphasized Saudi Arabia's commitment to diversifying its economy and prioritizing emerging sectors. He noted that non-oil exports of the Kingdom experienced significant growth, increasing by 77% from 2016 to 2022.
Participating in a high-level ministerial session on e-commerce during the UNCTAD eWeek 2023 in Geneva, Dr. Al-Qasabi highlighted the openness of the Middle East and North Africa (MENA) region to international trade, with the volume reaching $7.7 trillion last year. He emphasized the transformative impact of digitization on trade, making it more efficient, reliable, and transparent.
Dr. Al-Qasabi underscored the Kingdom's efforts to keep pace with global trends through economic reforms, infrastructure modernization, and a focus on the digital economy and knowledge-based sectors. Regarding regional trade and free-trade agreements, he acknowledged their advantages in enhancing intra-trade and supply chain security but expressed concerns about the growing trend toward regionalization amidst global challenges that require international consensus.
Geneva, December 07, 2023, Dr. Majid bin Abdullah Al-Qasabi, the Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC), emphasized Saudi Arabia's commitment to diversifying its economy and prioritizing emerging sectors. He noted that non-oil exports of the Kingdom experienced significant growth, increasing by 77% from 2016 to 2022.dwin, an economist at the International Institute for Management Development (IMD).
