Saudi Gazette report

VIENNA — Saudi Minister of Commerce and Chairman of the Board of Directors of National Competitiveness Center (NCC) Majed Al-Qasabi highlighted that the growing global adoption of digitization has transformed trade, making it more efficient, reliable, and transparent.

He made the remarks while speaking at the opening session of a high-level workshop titled "Emerging Trends in Digital Trade Law," organized by NCC in cooperation with the United Nations Commission on International Trade Law (UNCITRAL) in Vienna, Austria.

Al-Qasabi emphasized that leveraging advanced and emerging technologies has reshaped local and international trade as well as consumer behavior. “Saudi Arabia is keeping pace with the trend through economic reforms,” he noted.

Al-Qasabi headed a delegation of 32 officials representing 20 government entities who participated in the workshop sessions held on Thursday and Friday. The workshop was also attended by the Saudi Ambassador to Austria Dr. Abdullah Tawlah and UNCITRAL Secretary General Anna Joubin-Bret.

In her speech, Joubin-Bret noted that digital trade plays a pivotal role in shaping the international trade landscape, explaining that UNCITRAL and its partners, most notably Saudi Arabia, are working to establish international trade laws that support digital trade, stressing the need for member states to collaborate on laws that bolster the digital economy.

In the first working session, Global Alliance for Trade Facilitation Deputy Director José Raúl Perale discussed the latest developments in global digital trade law and comprehensive trade digitization.

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

The workshop highlighted the future vision and the need to develop model international trade laws that help countries update their legislation to keep pace with global transformations, including digital trade, in addition to enhancing international cooperation to develop solutions to emerging challenges, which helps resolve disputes and enhance the transparency of international trade transactions.