The Kingdom of Saudi Arabia is actively participating in the World Trade Organization's Ministerial Conference , being held in Yaoundé, Cameroon, from March 26 to 29. The Kingdom's delegation to this prominent economic event is headed by Mr. Farid bin Saeed Al-Asali, Deputy Governor of the General Authority for Foreign Trade for International Agreements and Organizations, representing His Excellency the Minister of Commerce and Chairman of the Authority's Board of Directors, Dr. Majid bin Abdullah Al-Qasabi. This participation underscores Riyadh's commitment to strengthening international economic cooperation and developing mechanisms for joint trade action.
A historic journey of international trade cooperation
The World Trade Organization (WTO) was established in 1995 as the cornerstone of international trade regulation. Since Saudi Arabia officially joined the organization in 2005, it has played a pivotal role in supporting the multilateral trading system. The WTO Ministerial Conference the organization's highest decision-making body, typically convening every two years to assess the state of global trade and make crucial decisions on trade agreements. In light of current global economic challenges, the importance of these meetings is underscored in reshaping policies that ensure stable supply chains and sustainable growth for all member countries.
The most prominent issues on the table for discussion
This year's conference aims to underscore the vital importance of the World Trade Organization (WTO) in stabilizing the international trading system, while emphasizing the need to continue reforming the organization to keep pace with modern changes. Participants will discuss several key agenda items, most notably development issues specific to least developed countries and the e-commerce work program. The conference will also address the integration of the Investment Facilitation for Development and E-Commerce agreements into the WTO's comprehensive legal framework, which would contribute to creating a more transparent and equitable investment environment.
Saudi leadership to coordinate Arab positions
As part of its proactive preparations for the conference, the Kingdom hosted the preparatory ministerial meeting of Arab trade ministers this month. This step culminates the Kingdom's ongoing efforts, as it has held the position of coordinator of the Arab Group at the World Trade Organization for eight consecutive terms since 2011. This coordination aims to unify the negotiating positions of the Arab states and clearly define their demands, thereby enhancing their ability to contribute effectively to the conference discussions and achieve balanced outcomes that reflect their interests and development priorities.
The expected impact of the conference decisions on the regional and international economies
This event is of paramount importance and is expected to have a far-reaching impact at the local, regional, and international levels. Regionally, the ministerial statement issued by Arab trade ministers affirmed the commitment of the region's countries to play a constructive role in ensuring the conference's success and meeting the needs of developing nations. Internationally, the statement emphasized the critical importance of guaranteeing unimpeded access to food and agricultural inputs worldwide and the necessity of reducing unjustified export restrictions. Domestically, this momentum is reflected positively in the Saudi economy, with the Kingdom's trade volume with WTO member states reaching approximately $537 billion, while its exports totaled nearly $305 billion in 2024, underscoring the strength of the Saudi economy and its effective integration into the global market.
