Saudi Commerce Minister Majid Al-Kassabi Leads Delegation To Discuss Digital Trade Law Trends In Austria

Majid Al-Kassabi, Saudi Minister of Commerce and Chairman of the National Competitiveness Center (NCC), participated in a high-level workshop on "Emerging Trends in Digital Trade Law." This event was organised by the NCC in collaboration with the United Nations Commission on International Trade Law (UNCITRAL) in Vienna, Austria. Al-Kassabi led a delegation of 32 officials from 20 government entities during the sessions held over two days.

The workshop also saw participation from Dr. Abdullah bin Khalid Tawlah, Saudi ambassador to Austria, and Anna Joubin-Bret, UNCITRAL Secretary-General. In his opening remarks, Al-Kassabi pointed out that digitization is revolutionising trade by enhancing efficiency, reliability, and transparency. He noted that Saudi Arabia is aligning with this trend through economic reforms.

Joubin-Bret highlighted digital trade's crucial role in shaping global commerce. She explained that UNCITRAL and its partners, including Saudi Arabia, are working to develop international trade laws supporting digital trade. She stressed the importance of member states collaborating on laws to strengthen the digital economy.

During the first session, José Raúl Perale from the Global Alliance for Trade Facilitation discussed recent advancements in global digital trade law and comprehensive trade digitization. His insights provided valuable context for understanding current trends and challenges in this evolving field.

The workshop included representatives from various Saudi ministries such as Commerce, Justice, Finance, Economy and Planning, Industry and Mineral Resources, Energy, Foreign Affairs, and Education. Other participating entities were the General Authority for Foreign Trade; Zakat, Tax, and Customs Authority; Capital Market Authority; Small and Medium Enterprises General Authority; Saudi Authority for Data and Artificial Intelligence; Bureau of Experts at the Council of Ministers; Saudi Central Bank (SAMA); Board of Grievances; National Competitiveness Center; and Bankruptcy Commission.

Al-Kassabi emphasised that advanced technologies are reshaping both local and international trade along with consumer behaviour. He reiterated Saudi Arabia's commitment to keeping pace with these changes through ongoing economic reforms aimed at enhancing competitiveness.

The discussions underscored the need for cohesive international efforts to establish legal frameworks that facilitate digital trade. Such frameworks are essential for fostering a robust digital economy that benefits all participating nations.

With inputs from SPA