Riyadh, September 14, 2023, At the WEF headquarters in Geneva, the National Competitiveness Center (NCC) and the World Economic Forum (WEF) inked a collaboration agreement today to promote the trade of services in the Kingdom of Saudi Arabia and boost its competitiveness in international markets. The agreement is a part of the trade system in the Kingdom of Saudi Arabia to help realize initiatives of the Saudi Vision 2030 that aim to enhance sustainable economic development and increase the connectivity of the national economy regionally and internationally, where the trade in services in the Kingdom of Saudi Arabia is viewed as a promising opportunity. Minister of Commerce and Chairman of the Board of Directors of NCC, Dr. Majid bin Abdullah Al-Qasabi, said The protocol of the African Continental Free Trade Area (AfCFTA), where the agreement seeks to frame and facilitate the trade in services in partnership with WEF, and the reference paper of the World Trade Organization regarding the local organization of services are the sources of the agreement, according to Dr. Al-Qasabi.
Dr. Iman Al-Mutairi, vice minister of commerce and chief executive officer of the NCC, stated during the signing ceremony that this agreement is part of the desire to take advantage of different international expertise to ensure adhering to the best methods and practices that enhance the competitiveness of the Kingdom of Saudi Arabia by facilitating the laws and regulations of the trade in services and exporting them, which would ultimately support the Kingdom's international trade.
