Website Dedicated to Platform of Saudi WTO Director General Candidate

Saudi Arabia’s candidate for the position of Director General of the World Trade Organization (WTO) Mohammad Al-Tuwaijri. (AFP)
Saudi Arabia’s candidate for the position of Director General of the World Trade Organization (WTO) Mohammad Al-Tuwaijri. (AFP)
TT

Website Dedicated to Platform of Saudi WTO Director General Candidate

Saudi Arabia’s candidate for the position of Director General of the World Trade Organization (WTO) Mohammad Al-Tuwaijri. (AFP)
Saudi Arabia’s candidate for the position of Director General of the World Trade Organization (WTO) Mohammad Al-Tuwaijri. (AFP)

Saudi Arabia’s candidate for the position of Director General of the World Trade Organization (WTO) Mohammad Al-Tuwaijri unveiled a website aimed at promoting his platform for heading the global organization.

The portal is available in English, Persian, Spanish and Arabic and is topped with a banner reading: “Trade is the foundation of peace and development.”

“Its sole goal is to establish a global system that adheres to laws. The WTO must now, more than ever, work on bolstering global cooperation.”

Separately, in remarks to Arrajol magazine, Tuwaijiri said the position of WTO chief, at the time of the coronavirus, is one of the most important internationally because it supports global trade and facilitates activities between nations.

On his vision for the organization, he said the WTO is need of great structural and administrative reform. This requires the cooperation of all of its members.

He spoke of a comprehensive plan he will submit to members that envisages the establishment of a strong and dynamic organization that can resolve all global trade problems, while remaining prepared for the 21st century and the challenges it has in store.

On how he will deal with the impact of the coronavirus pandemic on the global economy and trade, Tuwaijiri noted that repercussions will vary from one country to the other, all of which ultimately depend on the state of the global economy, infrastructure and trade.

Tackling the crisis lies in practical and realistic solutions that are based on facts and comprehensive studies and discussions among WTO members, he continued.

The WTO must be the main reference, which is why talks are focusing on sustainable development that should ensure that no wide gaps remain in the global trade system, he continued.



China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

 A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
TT

China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

 A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)

Efforts will continue in 2025 to stabilize and prevent further declines in China's real estate market, China Construction News reported, citing a work conference held by the housing regulator on Tuesday and Wednesday.

China will vigorously promote the reform of the commercial housing sales system, and expand the scope of urban village renovation beyond the addition of 1 million units, the report said.

China will strictly control the supply of commercial housing, while increasing the supply of affordable housing to help solve the living problems of a large number of new citizens, young people and migrant workers, it said.

Policymakers have stepped up efforts to revive the real estate by introducing new measures to encourage home demand after a government-led campaign to rein in highly leveraged developers triggered a crisis in 2021.

Since September, measures aimed at encouraging homebuying have included cutting mortgage rates and minimum down-payments, as well as tax incentives to lower the cost of housing transactions.

The real estate market has shown some momentum of stabilizing, with home transactions in October and November seeing year-on-year and month-on-month growth for two consecutive months, said the conference.

China's home prices fell at the slowest pace in 17 months in November, supported by government efforts to revive the sector, official data showed.

An official of the Central Financial and Economic Affairs Commission in December called for policy measures with direct impact on stabilizing the real estate market to be adopted as soon as possible, with local governments getting greater autonomy to buy housing stock.