Saudi Candidate Sets 6-Axis-Framework to Head WTO

Saudi Candidate Sets 6-Axis-Framework to Head WTO
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Saudi Candidate Sets 6-Axis-Framework to Head WTO

Saudi Candidate Sets 6-Axis-Framework to Head WTO

With the end of the second phase of the nomination process, Saudi Arabia’s candidate for the presidency of the World Trade Organization (WTO), Muhammad bin Mazyad Al-Tuwaijri, has put in place an international framework of six strategic axes that will be the basis for his work if he gains the members’ confidence and succeeds in assuming the position of Director General.

The second phase of the process, in which the candidates “made themselves known to the members”, will end on Monday. On that day, the third phase will begin, extending over a period of two months, during which the Chair of the General Council, together with the chairs of the Dispute Settlement Body and the Trade Policy Review Body, will start to consult with all WTO members to assess their preferences and seek to determine which candidate is best placed to attract consensus support.

The first round of consultations between the members will be held between Sept. 7 and 16, to be followed by two additional rounds, during which the field of candidates will be reduced from eight to five to two candidates in the final round.

Tuwaijri, recently launched a website in four languages, in which he explained the features of a major action plan aimed at comprehensive reform within the corridors of the trade organization, taking into account the changes in the balance of powers, the acceleration of global technological advances, and international developments.

Challenges: The Benefits of Globalization

The official portal recently launched by Tuwaijri revealed that the most prominent challenges facing the World Trade Organization are recent developments, stating that the map of the great powers in the past decades has changed at an accelerated pace, as is the case for the geopolitical forces that link the world’s major economies.

The Saudi candidate added that the Covid-19 pandemic exposed the gaps that states face internally and among each other, raising questions about the benefits and fate of globalization, which has somehow revived nationalist tendencies.

As on the global level, Tuwaijri noted that recent developments have affected the framework of the intra-trade movement, warning of the existing trends that he said were a cause for concern. He underlined, in this regard, the need to commit to supporting the international system in order to promote sustainable development.

An Impartial Mediator

In light of the current circumstances, Tuwaijri said that the Kingdom of Saudi Arabia was an impartial mediator, with a role that works to bridge the rift and resolve the divisions between Africa, China, Europe, and the United States. He also noted that the World Trade Organization (WTO) has an opportunity to create a global framework commensurate with the requirements of the 21st century.

The Six Strategies

An Evaluation

The Saudi candidate focused on promoting joint action within six strategic areas, the first of which is the assessment of needs, where he is committed to understanding the experiences of all WTO members and their views during the first 100 days of his term. He would then conduct an in-depth assessment of the global economic landscape and its vulnerability to the consequences of the Covid-19 pandemic, to improve the organization’s approach to managing the multilateral trade system.

Data Acquisition: An Analysis

In the second strategy, Tuwaijri highlights the role of data in enhancing management and improving performance, based on his high-ranking positions in the public and private sectors. He said that he intended to give priority to analyzing the operations of the WTO, enhancing its efficiency, and improving its impact around the world.

Building Trust: A Principle

According to Tuwaijri, the principle of inclusiveness is one of the most important pillars of international trade, as it is intended to listen to all the opinions expressed by all members of the WTO and to enhance the spirit of openness and transparency at the internal and external levels.

In the fourth strategy, Tuwaijri added that disputes were a possibility in multilateral scenarios. “But the mechanisms available for resolving these disputes must be effective and adaptable to the growing and dynamic commercial relations,” he said on his website.

Stimulating Innovation: Collaboration

In the fifth strategy for reforming the organization, Tuwaijri said: “Given that intergovernmental institutions face more scrutiny, the cooperation among these institutions has become necessary to maximize their impact.”

In order for the organization to deepen its relations with its counterparts and with member states, the Saudi candidate intends to launch a roadmap that provides a clear vision of the organization’s work and contributes to improving awareness about international trade issues and their importance in people’s lives.

Commitment and Impartiality

The sixth principle of the organization’s reform approach, according to Tuwaijri’s vision, is achieving progress by abandoning preconceived ideologies and focusing instead on facts.

Therefore, he stressed his commitment to effective communication with various stakeholders, internally and externally, to understand their concerns and requirements, which contributes to enhancing the efficiency of the World Trade Organization in the interest of all.

The Saudi candidate intends to spend 50% of his time interacting with stakeholders, 40% of his time focusing on innovation, and 10% focusing on management, stressing that inclusiveness was required to enhance trade cooperation between countries.



Saudi Energy Minister: Two Billion People Worldwide Suffer from Energy Shortages

Saudi Minister of Energy Prince Abdulaziz bin Salman (OPEC website) 
Saudi Minister of Energy Prince Abdulaziz bin Salman (OPEC website) 
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Saudi Energy Minister: Two Billion People Worldwide Suffer from Energy Shortages

Saudi Minister of Energy Prince Abdulaziz bin Salman (OPEC website) 
Saudi Minister of Energy Prince Abdulaziz bin Salman (OPEC website) 

Saudi Energy Minister Prince Abdulaziz bin Salman has warned that the global energy transition must not come at the expense of economic growth and the cost of living. He highlighted that nearly two billion people around the world are currently facing energy shortages.

Speaking at the opening session of the 9th OPEC International Seminar in Vienna, the minister stressed that the path toward energy transition must be realistic and practical. He emphasized that this shift should not be viewed as a threat to oil producers, but rather as an opportunity for technological innovation.

Despite the growing use of renewable, nuclear, and hydrogen energy sources, Prince Abdulaziz maintained that oil and gas will remain essential and irreplaceable components of the global energy mix. He welcomed the fact that an increasing number of countries are adopting a more pragmatic view of the transition.

Also speaking at the seminar, UAE Energy Minister Suhail Al Mazrouei said on Wednesday that oil markets have been able to absorb OPEC+ production increases without a rise in inventories, indicating that global demand still requires more crude.

Al Mazrouei explained that the group is not concerned about oversupply and has seen no significant stockpile build-up, even after recent production hikes.

OPEC+, which supplies around half of the world’s oil, has been cutting production for several years to support market stability. However, the group recently began easing these cuts in response to rising global demand, particularly during the summer.

OPEC+ began unwinding its 2.17 million barrel-per-day production cut in April, increasing output by 138,000 barrels per day. That was followed by monthly hikes of 411,000 barrels per day in May, June, and July. On Saturday, the group approved a further increase of 548,000 barrels per day for August.

Al Mazrouei pointed out that the absence of a significant buildup in inventories despite these steady increases suggests that the market needed those barrels.

He added that stability - not just price - should be the focus, stressing that short-term thinking based solely on price is insufficient. He noted that oil prices must remain attractive enough to draw in new investments, warning that countries with large oil reserves still are not investing at the necessary levels.