During the 14th Ministerial Conference of the World Trade Organization, which concluded in the Cameroonian capital of Yaoundé, Saudi Arabia called for enhanced reform efforts within the organization, particularly in the areas of dispute resolution and improving food security for developing countries. The Kingdom reaffirmed its full support for all development fundamentals, including special and preferential treatment for developing and least developed countries.
The Saudi delegation at the conference was led by Fried Al-Asli, the Deputy Governor of the General Authority for Foreign Trade for Agreements and International Organizations, representing the Minister of Commerce and Chairman of the Authority, Dr. Majid Al-Qasabi. Al-Asli highlighted the importance of facilitating and expediting the accession procedures for countries to the organization, which contributes to their engagement in global trade and global value chains.
Event Details
During the conference proceedings, Saudi Arabia reaffirmed its supportive stance on extending the practice of not imposing tariffs on electronic shipments, in addition to adopting the Trade Facilitation Agreement for Development. The conference also discussed the agenda items, which included WTO reform, agriculture, fisheries, development issues, least developed countries, and the e-commerce work program.
The topics also included the inclusion of Investment Facilitation Agreements for Development and E-commerce, extending exemptions for trade-related intellectual property measures, and the accession of several countries to the organization. On the sidelines of the conference, Al-Asli met with several ministers and officials from various countries, reflecting the importance of international cooperation in the field of trade.
Background & Context
The World Trade Organization is one of the fundamental institutions that regulates international trade, aiming to enhance cooperation among member countries and facilitate global trade. In recent years, the organization has witnessed increasing calls for reform, especially in light of global economic challenges and trade tensions among major countries.
Saudi Arabia, as an active member of the organization, seeks through these calls to enhance its role in global trade, particularly with the increase in trade volume with member countries, which reached approximately $537 billion, while its exports amounted to about $305 billion in 2024.
Impact & Consequences
Through its support for WTO reform, Saudi Arabia aims to enhance its economic standing and increase its influence on the international stage. Improving accession procedures for developing countries and promoting e-commerce can contribute to achieving sustainable development for these nations, reflecting the Kingdom's commitment to supporting the global economy.
Moreover, extending the exemption from tariffs on electronic shipments reflects a global trend towards facilitating digital trade, which may open new horizons for e-commerce in the region, contributing to economic growth.
Regional Significance
Saudi Arabia's support for WTO reform represents an important step towards enhancing economic cooperation between Arab countries and developing nations. Improving the e-commerce environment and facilitating procedures can contribute to increasing foreign investments and boosting economic growth in the region.
These efforts also reflect Saudi Arabia's commitment to supporting sustainable development in the region, enhancing opportunities for cooperation among Arab countries in trade and investment.
In conclusion, through its active participation in the WTO Ministerial Conference, Saudi Arabia emphasizes the importance of necessary reforms to enhance global trade, contributing to achieving sustainable development for member countries.