Saudi foreign trade chief advocates WTO reform, women’s economic role at G20 meeting in Brazil

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The acting governor of Saudi Arabia’s General Authority for Foreign Trade represented the Kingdom at the Group of 20 Trade and Investment ministerial meeting, which was held on Thursday in Brasilia. (SPA)
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The acting governor of Saudi Arabia’s General Authority for Foreign Trade represented the Kingdom at the Group of 20 Trade and Investment ministerial meeting, which was held on Thursday in Brasilia. (SPA)
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The acting governor of Saudi Arabia’s General Authority for Foreign Trade represented the Kingdom at the Group of 20 Trade and Investment ministerial meeting, which was held on Thursday in Brasilia. (SPA)
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The acting governor of Saudi Arabia’s General Authority for Foreign Trade represented the Kingdom at the Group of 20 Trade and Investment ministerial meeting, which was held on Thursday in Brasilia. (SPA)
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The acting governor of Saudi Arabia’s General Authority for Foreign Trade represented the Kingdom at the Group of 20 Trade and Investment ministerial meeting, which was held on Thursday in Brasilia. (SPA)
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Updated 25 October 2024
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Saudi foreign trade chief advocates WTO reform, women’s economic role at G20 meeting in Brazil

  • Mohammed Al-Abduljabbar highlights women’s growing contribution to Kingdom’s economy
  • Open, rules-based multilateral trading system key to handling global trade, economic challenges, official says

BRASILIA: The acting governor of Saudi Arabia’s General Authority for Foreign Trade represented the Kingdom at the Group of 20 Trade and Investment ministerial meeting, which was held on Thursday in Brasilia.

Attending on behalf of Minister of Commerce Majid bin Abdullah Al-Qasabi, Mohammed Al-Abduljabbar joined global leaders to discuss trade and investment priorities, highlighting the importance of reforming the World Trade Organization, empowering women in international trade, and fostering sustainable development in global markets, Saudi Press Agency reported on Friday.

Al-Abduljabbar underscored the WTO’s role in maintaining an open, rules-based multilateral trading system, emphasizing the necessity for effective mechanisms to handle evolving global trade and economic challenges.

He also called for the reinforcing of member commitments, aligning with the principles set out in the Riyadh Initiative for the Future of the WTO.

In line with Saudi Vision 2030, Al-Abduljabbar celebrated women’s growing contributions to economic development in the Kingdom, citing policy reforms aimed at empowerment and capacity building.

He noted Saudi Arabia’s impressive rise in the World Bank’s Women, Business and the Law Index, jumping from a score of 25 out of 100 in 2019 to 71 in 2023.

Women in Saudi Arabia now account for 42 percent of small and medium-sized enterprises, with female workforce participation rising from 17.4 percent in 2017 to 34.6 percent last year.

Al-Abduljabbar also pointed to Saudi Arabia’s progress in achieving Sustainable Development Goals, bolstered by its National Investment Strategy that promotes economic diversification and sustainable growth.

The initiatives aim to make the Kingdom a global hub for sustainable investment, aligning with international best practices to foster a resilient, inclusive economy.

During the event, Al-Abduljabbar held talks with key trade officials, including China’s Vice Minister of Commerce Wang Shouwen, Turkiye’s Deputy Minister of Trade Mustafa Tuzcu, and Singapore’s Deputy Prime Minister Gan Kim Yong.

He also met with WTO Director-General Dr. Ngozi Okonjo-Iweala, and trade ministers from New Zealand, the UAE, and Indonesia.


Saudi weather authorities warn of thunderstorms, heavy rains across Kingdom

Updated 25 October 2024
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Saudi weather authorities warn of thunderstorms, heavy rains across Kingdom

RIYADH: Saudi Arabia’s meteorology authorities have forecast thunderstorms followed by moderate to heavy rainfall across several regions, with the inclement weather expected to last until Sunday.

The National Center for Meteorology said on Friday: “The forecasts indicate light to moderate rain will fall in the Riyadh region (Hawtah Bani Tamim, Al-Hariq, Al-Muzahmiyya, Al-Kharj, Riyadh, Haremla, Diriyah, Dharmah) from Thursday to Sunday.”

Keeping in view the NCM forecast, the General Directorate of Civil Defense issued inclement weather warnings accompanied by safety instructions as the country braces for heavy rainfall.

“The Civil Defense calls on everyone to take precautions and adhere to its instructions … Your cooperation is our goal, and your safety is our aim,” read a text message from the authority to residents.

The cloudy weather in the capital is expected to continue until the next weekend with only Monday expected to be a full sunny day.

Temperatures plummeted to a low of 17 degrees Celsius, while the maximum temperature was pegged at 27 degrees. Thursday night also saw cold winds blowing at high speeds, heralding the onset of winter in Riyadh.

Following the heavy rains forecast, the Civil Defense also issued a warning for potential flooding in multiple regions of Saudi Arabia.

“Residents are advised to take precautions, avoid areas prone to flooding, and follow safety guidelines disseminated through various media channels,” it said.

“The Makkah region is expected to experience moderate to heavy rainfall accompanied by hail and strong winds. Rainfall, ranging from light to heavy, will also affect the Riyadh region. Other regions anticipated to be impacted by significant rainfall include Madinah, Hail, Qassim, the Northern Borders, the Eastern Province, Al-Baha, Aseer, Jazan, and Najran. Tabuk and Jouf may experience lighter rainfall," it added.

The Civil Defense urged all citizens to prioritize their safety and adhere to authorities’ instructions provided through various media channels.

"When it rains, follow the instructions and stay away from valleys and waterlogged areas," the Civil Defense posted on X.


ROSHN Group launches 2024 edition of ROSHN Hackathon

Updated 25 October 2024
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ROSHN Group launches 2024 edition of ROSHN Hackathon

  • The hackathon, building on the success of the inaugural 2023 edition, has expanded to cover four key focus areas

RIYADH: ROSHN Group announced on Friday the launch of its ROSHN Hackathon 24, set to be the largest PropTech hackathon in the region.

Taking place during the Cityscape Global exhibition in Riyadh from Nov. 11 to 14, the event will gather hundreds of innovators from over a dozen countries to compete in developing ideas for the construction and real estate sectors.

The hackathon, building on the success of the inaugural 2023 edition, has expanded to cover four key focus areas, including green technology, energy efficiency, smart buildings, automation, and corporate social responsibility. 

Participants will compete for cash prizes, with the top teams winning SR300,000 ($79,872) to help bring their projects to life.

ROSHN Hackathon 24 is supported by key Saudi tech and business entities, including the Saudi Federation for Cybersecurity, Programming and Drones, and the Digital Entrepreneurship Center as SME partners, PwC as a knowledge partner, and Google and Future Workshops as technical partners. 

Innovators can register as individuals or teams on the ROSHN Hackathon 24 website, where they will be invited to present their business models over the four-day event. 

A panel of industry experts will evaluate submissions, with first-place teams awarded SR300,000, second-place teams SR150,000, and third-place teams SR50,000 to further develop their innovative solutions.


IsDB approves $156m deal for cancer treatment facilities in Turkmenistan

Updated 9 min 34 sec ago
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IsDB approves $156m deal for cancer treatment facilities in Turkmenistan

  • The three facilities in Balkanabat, Turkmenabat and Mary Region will provide advanced oncology services to 11,750 patients

RIYADH: The Islamic Development Bank has approved a $156.3 million financing agreement to build three state-of-the-art cancer treatment facilities in Turkmenistan.

The Jeddah-based IsDB is a multilateral development finance institution focused on Islamic finance for infrastructure development.

The three facilities in Balkanabat, Turkmenabat and Mary Region will provide advanced oncology services to 11,750 patients, the Saudi Press Agency reported.

The agreement was signed by IsDB Group Chairman Dr. Mohammed Al-Jasser and Chairman of the State Bank of Foreign Economic Affairs of Turkmenistan Rahimberdy Jepbarov, on the sidelines of the 2024 annual meetings of the IMF and World Bank Group.

In Turkmenistan, the IsDB has financed projects in various sectors, including energy, healthcare, information and communications technology, transportation and trade.

The bank has also supported major projects that enhance regional connectivity and boost Turkmenistan’s export potential, such as railways, gas pipelines and communications network enhancement projects.

Last month, Al-Jasser met Turkmenistan’s president, Serdar Berdimuhamedov, in a high-level meeting focused on enhancing longstanding cooperation.

It took place as part of Al-Jasser’s official visit to the country, aimed at discussing projects and exploring new areas of collaboration.

Both leaders reaffirmed their commitment to deepening the strategic partnership across key sectors, with a primary focus on healthcare and infrastructure development.


Saudi exports to Austria up by 146% last year, says envoy

Updated 25 October 2024
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Saudi exports to Austria up by 146% last year, says envoy

RIYADH: Imports from Saudi Arabia to Austria totaled €442.4 million ($477.9 million) in 2023, an increase of 146.2 percent on the previous year.

Oskar Wustinger, the Austrian ambassador to the Kingdom, said exports from his country to the Kingdom also showed a strong upward trend, increasing 11.9 percent to €537.8 million.

At a reception hosted by the Austrian Embassy in Riyadh, he described the growth in trade as “impressive” and said Austrian exports to Saudi Arabia during the first half of 2024 had also surged, up 57 percent on the same period last year.

Some 200,000 Saudis visited Austria last year, he added, describing it as “a big increase and new record with a further increase this year.”

According to the embassy’s website, Saudis made up the largest group of tourists from Gulf region with over 194,600 arrivals and 540,000 overnight stays.

The ambassador said he expected to see a further increase in tourism, with many visas already issued through the new “cascade” system.

Wustinger, who took up his current role in September last year, said the “very good relations” between Austria and the Kingdom were based on solid friendship and covered many fields.

During his tenure, he hopes to expand cooperation in the fields of infrastructure, mobility, mining, tourism, tourism infrastructure, the entertainment sector, green tech and renewable energy.

He said: “Vision 2030 is impressively bold and very ambitious,” adding he continued to be amazed by the rapid pace of change and the “energy, enthusiasm, and creativity of Saudi youth which is the biggest treasure of all.”

The ambassador also highlighted several Austrian companies which have established a presence in Saudi Arabia in the past few years, such as Hoerbiger and Andritz, adding that TUV Austria had celebrated the opening of its regional headquarters in Riyadh in May.

“Austrian businesses have world-leading expertise, break new ground, and think outside the box,” he said.

During his speech, the ambassador also listed numerous trade missions organized by the Austrian Embassy, including the commercial section which focused on green tech, tourism know-how and infrastructure.

He said another trade mission to Riyadh this month would bring a delegation to Abha to learn more about the developing tourist region of Aseer.

There was cooperation in the world of football, too, he said, with an increasing number of Saudi teams — including Al-Hilal — holding summer camps in Austria.

He also highlighted Austria’s National Day as “a very good occasion to bring together colleagues, Saudi friends, contacts and business people who are involved in trying to further enhance Austria and Saudi relations in the cultural field, economic and political fields.


Saudi Arabia making ‘significant strides’ in health tourism, expert says

Updated 25 October 2024
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Saudi Arabia making ‘significant strides’ in health tourism, expert says

  • Sustainability is a cornerstone of Kingdom’s health tourism strategy

RIYADH: Saudi Arabia is positioning itself as a top destination for health and wellness tourism, working to develop specialized healthcare facilities and wellness resorts to attract international visitors.

At the Global Health Exhibition, held in Riyadh Oct. 21-23, Dr. Saad Baslom, Advisor for Health Tourism and Complementary Medicine, shared valuable insights into Saudi Arabia’s growing prominence in health tourism.

Baslom participated in a session at the forum titled “Investment Opportunities in Health Tourism and Wellness in KSA,” where he discussed the country’s position as a leader in global health tourism.

Highlighting the Kingdom’s advancements, he told Arab News: “The Saudi Ministry of Health is actively transforming the healthcare system by fostering partnerships with the private sector and integrating complementary medicine into mainstream healthcare. Acupuncture and herbal medicine are now key components in providing holistic care.”

This integration positions Saudi Arabia as a destination offering a comprehensive health tourism experience, enriched by the nation’s deep-rooted customs and traditions, according to Baslom.

One prominent example of the country’s new wellness tourism offerings is AMAALA, a luxury wellness project on the Red Sea coast, the first phase of which is set to be completed by 2025.

It is expected to contribute SR11 billion ($2.9 billion) to the economy and create 50,000 jobs.

The AlUla Wellness Festival, another key initiative, promotes wellness travel. Held annually in one of Saudi Arabia’s most iconic heritage sites, AlUla, the festival focuses on physical and mental well-being through ancient healing practices, yoga sessions, meditation and other activities.

Baslom elaborated on the unique cultural context that makes Saudi Arabia stand out: “What distinguishes the emotional experience and perhaps creates the desire among medical tourism visitors is the nature and spirit of the Kingdom.

“It is this inheritance through successive generations in the history of this region… This is what creates the desire and that image that is formed in our minds when we want to experience something or want to visit a country.”

The blend of tradition and modern medical expertise appeals to international patients seeking not only treatment but also a meaningful connection with the culture.

Sustainability is a cornerstone of Saudi Arabia’s health tourism strategy. Baslom explained how the Kingdom prioritizes environmentally friendly practices: “Sustainability is an essential component of Saudi Arabia’s health tourism strategy.

“By prioritizing environmentally friendly practices in healthcare facilities, the Kingdom aims to minimize its ecological footprint while providing exceptional care.

“This commitment extends to the use of herbal treatments, which align with sustainable practices by promoting natural remedies that are both effective and respectful of the environment.”

He further emphasized the importance of digital health services that reduce travel needs and support environmental sustainability.

“The integration of digital health solutions, such as telemedicine and e-health services, further supports sustainability goals. These innovations reduce the need for travel, lowering carbon emissions and making healthcare more accessible,” he said.

Saudi Arabia’s healthcare infrastructure also plays a pivotal role, he said.

“The Kingdom’s commitment to achieving international accreditation for its healthcare facilities ensures that they meet rigorous quality standards,” Baslom said.

“This dedication enhances the appeal of the Kingdom as a destination for international patients seeking reliable and high-quality healthcare services.”

The Kingdom is actively building partnerships across healthcare, tourism, and other sectors to enhance the visitor experience.

“Facilities such as King Fahd Medical City and King Faisal Specialist Hospital are at the forefront of offering acupuncture and herbal medicine, supported by qualified practitioners who adhere to strict regulatory standards,” Baslom added.

As the Kingdom continues to expand its healthcare offerings, Baslom is optimistic about the future: “Saudi Arabia’s medical and wellness tourism is supported by a diverse network of partners, including prominent healthcare institutions and travel agencies, enhancing the overall visitor experience and showcasing the Kingdom as a destination for holistic wellness.”