Saudi Arabia, leader of global trade Middle east

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Countries submitted their candidates for the chairmanship of the World Trade Organization, in place of the current president whose term ends at the end of next August, and Saudi Arabia, Egypt, Kenya, Britain, Moldova, Nigeria, South Korea and Mexico were nominated. The organization appears lately in a deplorable state, as the difference continues between the major global economies and prolonged negotiations have become an economic concern. All this, amid continuing skepticism that the organization is able to deal with current economic issues with the same systems, some of which have not changed for more than twenty years.
The role assigned to the World Trade Organization at this particular time is critical for several reasons; The first is that the organization has received many criticisms from many countries of the world in the past period. The European Union, Japan and the United States have blamed the organization’s regulations a lot for what they called China’s trade transgressions, but they even proposed a proposal early this year to change the organization’s regulations for this reason. Indeed, China has legally not violated The organization’s regulations, as China is – in the eyes of the organization – is still a developing country, due to a system that has long been criticized by Western countries, giving each country a right to classify itself as a developing country (a system that has not been affected since China joined the organization in 2001).
International trade disputes have also become more influential during the past two years. Many negotiations have stopped following the impact of these conflicts, and every country has started to depend on itself, in a step similar to the economic isolation of countries, as each country has started to increase customs duties on imported products to support their products. Local, without the organization having an effective role to counter these measures. The world seemed to prefer economic closure to free trade, and this support was not from closed countries that did not benefit from trade openness, but rather from countries like the United States!
The organization is currently experiencing a real challenge after the Corona crisis, which is an additional challenge that has added burden to burdens, as the global economy witnesses radical changes imposed by the pandemic, both at the levels of systems and supply chains. These changes, and based on the events that occurred during the pandemic, supported every country dispensing its products for others, which may destroy many of the previous efforts made by the organization, which does not currently appear in a healthy position to confront this wave. The organization had no effective role in the economic war between the United States and China, nor in “NAFTA” negotiations between the countries of the Americas, and even the rate of foreign investment began to slow in recent years in light of the trend of economic closure.
While 8 countries have submitted candidates to lead the organization, Saudi Arabia’s power emerges as a candidate to lead the organization in several ways. The first is that the Kingdom is one of the economic powers in the world, and it is a member of the Group of Twenty whose countries make up 85 percent of the world’s gross national product. The Kingdom is not biased towards economic power against another, as it is in constant agreement with China, which is a strategic ally of the United States, and its relationship with Russia as well in OPEC Plus was a fundamental factor in the stability of oil markets, which is an important economic partner of the European Union, with a fair trade exchange. It exceeds 50 billion dollars annually, and with a slight deficit of no more than 350 million dollars. These facts indicate that the Kingdom is a current economic partner for major global economies. Hence, the kingdom’s assumption of the World Trade Organization presidency makes sense at this time in particular, with the advantages that the Kingdom possesses that none of the developed countries collectively possess with candidates. The Kingdom is aware of current economic issues in its role as one of the largest oil producers in the world, and it is a member of the Group of Twenty, and its president in the current session, and it is a major partner for major economies, and its interest is largely in the prosperity of the global economy and integration among its parties. Also, its candidate, Muhammad Al-Tuwaijri, a former Minister of Economy for the Kingdom, and his candidacy file clarify his knowledge of the current problems of the organization, and its urgent need to restructure to restore its confidence among the countries of the world, especially with some countries announcing their intention to withdraw from the organization; This role seems to suit the Kingdom more than any other country, and more than ever.







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