His Excellency the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al-Qasabi, extended his thanks and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Highness the Crown Prince on the occasion of the Cabinet’s two decisions approving the establishment of the General Authority of Foreign Trade (GAFT) and the regulation of the National Competitiveness Center (NCC).
Dr. Al-Qasabi stressed that these two decisions will maximize the Kingdom's trade and investment gains, improve and develop competitiveness, and contribute to achieving the goals of the Kingdom's Vision 2030.
H.E. stated that the establishment of the GAFT and the NCC complements the entities that contribute to improving the business environment and attracting investments, after the establishment of the General Authority of Small and Medium Enterprises, the Intellectual Property Authority, and the General Authority of Exhibitions and Conferences to integrate their efforts with the General Investment Authority.
The Minister of Commerce and Investment indicated that the establishment of the GAFT aims to enhance the Kingdom’s international trade and investment gains and consolidate its position as a regional and global center, through negotiating and concluding trade and investment agreements to enable access to the markets targeted for non-oil exports and reduce the obstacles it faces, and to represent the Kingdom in relevant international organizations, especially the World Trade Organization, and follow up on its commitments in international trade agreements and treaties.
Dr. Al-Qasabi explained that GAFT will contribute to enabling the private sector to actively participate in foreign trade, and provide protection for national products from practices that are harmful to international trade, in addition to providing services and facilities through commercial attaches abroad.
H.E. stressed that the National Competitiveness Center establishes the work of the Tayseer Executive Committee to improve business performance in the private sector and stimulate it to raise the efficiency and quality of government performance, and aims to improve and develop the competitive environment in the Kingdom and raise the Kingdom's ranking in global indicators and reports, and is interested in studying the obstacles facing the private sector, analyzing them and proposing solutions and initiatives to address these obstacles.
H.E. stated that the NCC specializes in reviewing regulations, proposing the necessary amendments, and following up the commitment of government entities to carry out reforms to improve the Kingdom's competitiveness, in addition to monitoring and analyzing global indicators and reports that affect the competitive environment, and polling and monitoring public opinions with the aim of improving the business environment in the Kingdom.