National Competitiveness Center, WEF Sign Agreement to Facilitate Trade in Services

The National Competitiveness Center (NCC) and the World Economic Forum (WEF) today, at the WEF headquarters in Geneva, signed a cooperation agreement to facilitate and develop the trade in services in the Kingdom of Saudi Arabia and increase its competitiveness in global markets.

Minister of Commerce and Chairman of the Board of Directors of NCC Dr. Majid bin Abdullah Al-Qasabi said that the agreement is part of the trade system in the Kingdom of Saudi Arabia to contribute to realizing initiatives of the Saudi Vision 2030 that aim to enhance sustainable economic development and increase the connectivity of the national economy regionally and internationally, where the trade in services in the Kingdom of Saudi Arabia is considered a promising opportunity in various vital sectors.

Dr. Al-Qasabi added that the agreement is a quality addition to international efforts that resulted from the reference paper of the World Trade Organization regarding the local organization of services and the protocol of the African Continental Free Trade Area (AfCFTA), where the agreement seeks to frame and facilitate the trade in services in partnership with WEF.

During the signing ceremony, Vice Minister of Commerce and CEO of the NCC Dr. Iman Al-Mutairi said that this agreement is part of the keenness to benefit from various international expertise to ensure following the best methods and practices that lead to enhancing the competitiveness of the Kingdom of Saudi Arabia through facilitating laws and regulations of the trade in services and exporting them, which would eventually support the Kingdom’s international trade.

Source: Saudi Press Agency