US, CHINA NEED TO REBUILD TRUST.
SAUDI CANDIDATE AL TUWAIJRI IS RUNNING FOR WTO’S TOP JOB ON A REFORM AGENDA
The trade dispute between the United States and China, which has weakened the World Trade Organisation (WTO), and threatens to hamper the global economic recovery, cannot be solved overnight but needs small steps to rebuild bilateral confidence, Saudi Arabia’s nominee to head the global agency said yesterday.
“I am an optimist and believe the WTO is the only party that can tackle such dispute,” Mohammad Al Tuwaijri told Gulf News during an online media briefing. “The lessons we have learnt from the Covid-19 crisis will be helpful in pushing for a solution. But I don’t expect the dispute can be solved overnight; I would introduce small solutions that will help the two countries bridge their differences,” he said.
Al Tuwaijri, who served as Economy and Planning Minister from 2016 to 2020 during which he oversaw the Kingdom’s Vision 2030 plan, said he was running for the WTO’s director-general post, against seven other candidates, on a reform agenda. “The need for reforms in the WTO today is unprecedented in line with the historic changes faced by the organisation,” he said, adding such challenges include the economic impact of the coronavirus pandemic and the rise of the electronic trade. “The ultimate challenge is the rising uncertainty in the global economy and trade,” he added, noting that the agency is not prepared for the 21st century. He said the need of the hour was to bring about administrative reforms to make “the WTO a more effective organisation with clear performance indicators.”
“An organisation with the size and the mandate of WTO needs a system that can help us navigate through these challenges and the extremely volatile conditions to serve the interests of the global trade and the member states.”
The current WTO chief, Brazilian diplomat Roberto Azevedo resigned in May, one year before his second term. The 64-member body is expected to choose its new chief by September.
The former Saudi minister is hopeful of getting the job saying he would bring to the table more than 25 years of experience in the private financial sector and the public economic sectors.
Former Saudi economy minister Mohammad Al Tuwaijri at a media event in Geneva, following his hearing, as part of the application process to head the World Trade Organisation.
The need for reforms in the WTO today is unprecedented in line with the historic changes faced by the organisation.”
Mohammad Al Tuwaijri | Former Saudi minister
Geographically important
He said the agency’s goals are compatible with the Kingdom’s global trade objectives and practices. “Saudi Arabia is a balanced trade partner with almost all countries in the world and one of the first countries to apply all the standards and polices required by the WTO.
Geographically, Saudi Arabia is an important link between Europe, Africa, and Asia, he noted.
“I have all the respect for the other candidates, I hope the result would be in the best interests of the WTO,” he said.