https://arab.news/8t72z
- Mohammed Al-Abduljabbar highlights women’s growing contribution to Kingdom’s economy
- Open, rules-based multilateral trading system key to handling global trade, economic challenges, official says
BRASILIA: The acting governor of Saudi Arabia’s General Authority for Foreign Trade represented the Kingdom at the Group of 20 Trade and Investment ministerial meeting, which was held on Thursday in Brasilia.
Attending on behalf of Minister of Commerce Majid bin Abdullah Al-Qasabi, Mohammed Al-Abduljabbar joined global leaders to discuss trade and investment priorities, highlighting the importance of reforming the World Trade Organization, empowering women in international trade, and fostering sustainable development in global markets, Saudi Press Agency reported on Friday.
Al-Abduljabbar underscored the WTO’s role in maintaining an open, rules-based multilateral trading system, emphasizing the necessity for effective mechanisms to handle evolving global trade and economic challenges.
He also called for the reinforcing of member commitments, aligning with the principles set out in the Riyadh Initiative for the Future of the WTO.
In line with Saudi Vision 2030, Al-Abduljabbar celebrated women’s growing contributions to economic development in the Kingdom, citing policy reforms aimed at empowerment and capacity building.
He noted Saudi Arabia’s impressive rise in the World Bank’s Women, Business and the Law Index, jumping from a score of 25 out of 100 in 2019 to 71 in 2023.
Women in Saudi Arabia now account for 42 percent of small and medium-sized enterprises, with female workforce participation rising from 17.4 percent in 2017 to 34.6 percent last year.
Al-Abduljabbar also pointed to Saudi Arabia’s progress in achieving Sustainable Development Goals, bolstered by its National Investment Strategy that promotes economic diversification and sustainable growth.
The initiatives aim to make the Kingdom a global hub for sustainable investment, aligning with international best practices to foster a resilient, inclusive economy.
During the event, Al-Abduljabbar held talks with key trade officials, including China’s Vice Minister of Commerce Wang Shouwen, Turkiye’s Deputy Minister of Trade Mustafa Tuzcu, and Singapore’s Deputy Prime Minister Gan Kim Yong.
He also met with WTO Director-General Dr. Ngozi Okonjo-Iweala, and trade ministers from New Zealand, the UAE, and Indonesia.