Saudi Arabia Highlights Women's Role In Trade At G20 Trade And Investment Ministerial Meeting In Brazil

The Acting Governor of the General Authority of Foreign Trade (GAFT), Mohammad Abdul Jabbar, represented Saudi Arabia at the G20 Trade and Investment Ministerial meeting in Brasilia, Brazil. He attended on behalf of Minister of Commerce and Chairman of the Board of Directors Majid Al-Kassabi. The meeting focused on key issues such as reforming the World Trade Organisation (WTO), enhancing the multilateral trading system, promoting women's participation in international trade, and advancing sustainable development in trade and investment.

During his address, Mohammad Abdul Jabbar highlighted the critical role of the WTO in global trade. He praised Saudi women's contributions to the nation's economic growth and international trade. This recognition is reflected in improved indicators, notably the Kingdom's World Bank index for women, business, and law rising from 25 in 2019 to 71 in 2023.

The participation rate of Saudi women in the workforce has seen a significant increase, growing from 17.4% in 2017 to 34.6% by 2023. Additionally, women now own 42% of small and medium enterprises in Saudi Arabia. These advancements underscore their vital role in driving economic progress within the Kingdom.

Mohammad Abdul Jabbar stated, "The Kingdom has made substantial progress in achieving the Sustainable Development Goals. The National Investment Policy has facilitated the expansion of economic diversity. The Kingdom has implemented supportive policies and standards to achieve these objectives and establish itself as a global investment hub for sustainable development."

Saudi Arabia's commitment to sustainable development is evident through its alignment with international efforts and best practices exchange. This approach aims to create a more sustainable, flexible, and prosperous economy that benefits all stakeholders involved.

In addition to participating in the ministerial meeting, Mohammad Abdul Jabbar engaged in several bilateral discussions with delegation leaders present at the event. These interactions aimed to strengthen ties and explore opportunities for collaboration on shared goals related to trade and investment.

The focus on reforming global trade systems and promoting inclusivity highlights Saudi Arabia's dedication to fostering a robust international trading environment. By prioritising these areas, the Kingdom seeks to position itself as a leader in sustainable economic development on a global scale.

With inputs from SPA