Saudi Commerce Minister Touts Vision 2030 Progress at G20 Meeting

Saudi Arabia's Minister of Commerce Majid bin Abdullah Al-Qasabi participated in the G20 Trade and Investment Ministers' meeting in India, holding bilateral meetings with ministers from various countries to discuss trade and economic cooperation. The Kingdom's foreign trade increased by $172 billion over the past year, while non-oil exports rose by 40% between 2018-2022, totaling $28.7 billion.

Al-Qasabi also highlighted the impact of Vision 2030 reforms on the Saudi economy, mentioning that there are now 1.2 million small and medium enterprises in the Kingdom. The minister added that the annual growth rate of e-commerce reached 33% between 2016-2022, and that the Kingdom ranked second among G20 countries in digital competitiveness.

The meetings at the G20 meeting focused on developing relations and enhancing trade and economic cooperation, with Al-Qasabi reviewing the impact of Vision 2030 reforms during a session on 'Trade for Growth and Prosperity and WTO Reforms'. The minister also met with various officials, including Indian Minister of Commerce and Industry Piyush Goyal.

The G20 meeting will be hosted in India next month under the theme 'One Earth, One Family, One Future', which emphasizes the importance of cooperation among countries to address global challenges.