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Saudi Commerce Minister Leads Delegation to Boost Trade with South Korea

Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi arrived in Seoul on Monday, leading a Saudi delegation on a three-day visit to bolster trade ties with South Korea. (SPA)
Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi arrived in Seoul on Monday, leading a Saudi delegation on a three-day visit to bolster trade ties with South Korea. (SPA)
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Saudi Commerce Minister Leads Delegation to Boost Trade with South Korea

Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi arrived in Seoul on Monday, leading a Saudi delegation on a three-day visit to bolster trade ties with South Korea. (SPA)
Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi arrived in Seoul on Monday, leading a Saudi delegation on a three-day visit to bolster trade ties with South Korea. (SPA)

Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi arrived in Seoul on Monday, leading a Saudi delegation on a three-day visit to bolster trade ties with South Korea.

The delegation, comprising officials from 10 government agencies and 55 business leaders from major national companies, aims to reinforce economic partnerships and participate in the Saudi-Korean Business Forum.

During a meeting with Korean Prime Minister Han Duck-soo, Al-Qasabi highlighted the importance of strengthening commercial ties between the two countries in line with the directives of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

The discussions centered on the progress in free trade agreement talks between South Korea and the Gulf Cooperation Council, as well as the impact of Saudi Arabia's Vision 2030 reform agenda on potential business opportunities for collaboration.

Saudi Ambassador to South Korea Sami bin Mohammed Al-Sadhan was present at the meeting.

Al-Qasabi also discussed with the Korean Minister of Small and Medium Enterprises and Startups, Oh Young-ju, to explore opportunities for knowledge sharing and talent exchange, drawing on Seoul’s experience in developing small and medium enterprises (SMEs).

He met with Naver CEO Choi Soo-yeon to discuss the company's plans to enter the Saudi market and collaborate on expanding e-commerce in the Kingdom.

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Saudi Commerce Minister Heads Delegation to Discuss Emerging Trends in Digital Trade Law in Austria

Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)
Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)
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Saudi Commerce Minister Heads Delegation to Discuss Emerging Trends in Digital Trade Law in Austria

Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)
Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)

Saudi Minister of Commerce and National Competitiveness Center (NCC) Chairman of the Board of Directors Majid Al-Kassabi participated in the high-level workshop, "Emerging Trends in Digital Trade Law," in Vienna.

The event was organized by the NCC in cooperation with the United Nations Commission on International Trade Law (UNCITRAL).

Al-Kassabi 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 Saudi ambassador to Austria Dr. Abdullah bin Khalid Tawlah and UNCITRAL Secretary-General Anna Joubin-Bret.

During the opening session, Al-Kassabi said the growing global adoption of digitization has transformed trade, making it more efficient, reliable, and transparent. He emphasized that leveraging advanced and emerging technologies has reshaped local and international trade as well as consumer behavior, noting that Saudi Arabia is keeping pace with the trend through economic reforms.

Joubin-Bret noted that digital trade plays a pivotal role in shaping the international trade landscape, explaining that UNCITRAL and its partners, including Saudi Arabia, are working to establish international trade laws that support digital trade. She also 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 participants in the workshop included the 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.