Saudi Minister Al-Qasabi Joins UNCTAD 60th Anniversary in Geneva

Saudi Arabia’s Minister of Commerce and Chairman of the National Competitiveness Center (NCC), Dr. Majid bin Abdullah Al-Qasabi, participated in the 60th-anniversary celebration of the UN Trade and Development Organization (UNCTAD) in Geneva on June 13, 2024. The high-level event, themed “Charting a New Development Course in a Changing World,” brought together UN Secretary-General António Guterres and government representatives from 120 countries to discuss pressing global trade and development issues.

Context and Background

UNCTAD, established in 1964, serves as the United Nations’ principal body for trade and development, with a mandate to help developing countries integrate into the global economy. The 60th-anniversary celebration provided a platform for member states to reflect on six decades of progress and chart a forward-looking agenda amid economic uncertainties.

Saudi Arabia’s participation underscores its growing role in shaping international economic policies and its commitment to multilateral cooperation. As the world’s largest oil exporter and a key player in global trade, the Kingdom has increasingly leveraged forums like UNCTAD to advocate for sustainable development and inclusive growth.

Key Details

During the ministerial sessions, Dr. Al-Qasabi highlighted the transformative potential of e-commerce, describing it as a vital component of Saudi Arabia’s development strategy under Vision 2030. He noted that the Kingdom’s e-commerce sector is projected to reach approximately SAR260 billion by 2025, reflecting robust growth.

He also shared impressive statistics: Saudi delivery companies processed around 200 million orders last year, supported by 14,000 logistics warehouses across the Kingdom. Investment in emerging e-commerce companies surged by 152% over the past two years, totaling SAR1.6 billion.

Dr. Al-Qasabi emphasized the Kingdom’s regulatory reforms, including the establishment of the E-Commerce Council, comprising 17 government agencies, and the Saudi Center for Economic Business, which provides government services to the business sector to enhance ease of doing business online.

“E-commerce is a cornerstone of our economic diversification efforts, and we are committed to creating a conducive environment for its growth,” Dr. Al-Qasabi said.

Implications and Impact

Saudi Arabia’s active engagement at UNCTAD signals its intention to play a leadership role in global trade discussions, particularly in areas like digital economy and sustainable development. The Kingdom’s e-commerce advancements serve as a model for other nations seeking to harness technology for economic transformation.

Regionally, Saudi Arabia’s progress could spur similar initiatives across the Gulf and the broader Middle East, fostering economic integration and diversification. Internationally, the Kingdom’s emphasis on inclusive digital growth aligns with UNCTAD’s mission to promote equitable development.

Vision 2030 Alignment

The priorities outlined by Dr. Al-Qasabi at UNCTAD directly reflect Saudi Vision 2030’s goals of economic diversification, private sector empowerment, and digital innovation. By fostering a thriving e-commerce ecosystem, the Kingdom aims to reduce oil dependence, create jobs, and position itself as a global logistics and technology hub. As Saudi Arabia continues to implement Vision 2030, its role in international forums like UNCTAD will remain pivotal in shaping a prosperous and interconnected future.

20 Questions

Q1. What event did Dr. Al-Qasabi attend in Geneva?

A1. Dr. Majid bin Abdullah Al-Qasabi attended the 60th-anniversary celebration of the UN Trade and Development Organization (UNCTAD) in Geneva on June 13, 2024.

Q2. What was the theme of UNCTAD’s 60th-anniversary celebration?

A2. The theme was “Charting a New Development Course in a Changing World.”

Q3. Who else attended the UNCTAD celebration?

A3. UN Secretary-General António Guterres and high-level government representatives from 120 countries, including leaders and ministers, attended.

Q4. What were the major ministerial sessions focused on?

A4. The sessions focused on activating industrial policy for trade and development, preparing for future economies, development strategies in a world characterized by successive crises, and restructuring foreign direct investment.

Q5. What key topic did Dr. Al-Qasabi emphasize at the event?

A5. He emphasized the significance of e-commerce as a vital element in Saudi Arabia’s development strategy outlined in Vision 2030.

Q6. What is the projected volume of Saudi e-commerce by 2025?

A6. The Kingdom is expected to reach approximately SAR260 billion in e-commerce by 2025.

Q7. How many orders did Saudi delivery companies handle last year?

A7. Saudi delivery companies handled around 200 million orders last year.

Q8. How many logistics warehouses are there in the Kingdom?

A8. There are 14,000 logistics warehouses in the Kingdom.

Q9. What was the growth rate in investment in emerging e-commerce companies over the past two years?

A9. The growth rate was 152%, amounting to SAR1.6 billion.

Q10. What regulatory efforts has Saudi Arabia undertaken for e-commerce?

A10. The Kingdom has reviewed regulations related to e-commerce and reengineered procedures, requirements, and stipulations to regulate the sector.

Q11. What government agencies has Saudi Arabia established to support e-commerce?

A11. Saudi Arabia established the E-Commerce Council, comprising 17 government agencies, and the Saudi Center for Economic Business, which provides government services to the business sector.

Q12. How does e-commerce align with Vision 2030?

A12. E-commerce supports Vision 2030’s goals of economic diversification, private sector empowerment, and digital innovation, reducing oil dependence and creating jobs.

Q13. What is the role of the National Competitiveness Center?

A13. The NCC, chaired by Dr. Al-Qasabi, aims to enhance Saudi Arabia’s competitiveness by improving the business environment and fostering economic growth.

Q14. How many countries were represented at the UNCTAD celebration?

A14. High-level representatives from 120 countries attended the event.

Q15. What is UNCTAD’s main purpose?

A15. UNCTAD serves as the United Nations’ principal body for trade and development, helping developing countries integrate into the global economy.

Q16. What is the significance of Saudi Arabia’s participation in UNCTAD?

A16. It underscores the Kingdom’s growing role in shaping international economic policies and its commitment to multilateral cooperation.

Q17. How might Saudi Arabia’s e-commerce advancements impact the region?

A17. They could spur similar initiatives across the Gulf and broader Middle East, fostering economic integration and diversification.

Q18. What did Dr. Al-Qasabi say about e-commerce?

A18. He said, “E-commerce is a cornerstone of our economic diversification efforts, and we are committed to creating a conducive environment for its growth.”

Q19. What investment figure did Dr. Al-Qasabi highlight for emerging e-commerce companies?

A19. He highlighted SAR1.6 billion in investment over the past two years, representing a 152% growth rate.

Q20. How does Saudi Arabia’s e-commerce growth reflect Vision 2030?

A20. It demonstrates progress in economic diversification, digital transformation, and private sector development, key pillars of Vision 2030.

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