Economy

Breaking News: Saudi Arabia to Lead WTO Dispute Settlement Body!

Saudi Representative Saqer Al-Moqbel to Chair WTO’s Dispute Settlement Body

In a historic move, Saudi Arabia’s permanent representative to the World Trade Organization, Saqer Al-Moqbel, has been appointed to chair the entity’s Dispute Settlement Body for the year 2024-2025.

The decision was made unanimously by the WTO’s General Council during its meeting on March 22, marking Al-Moqbel as the first Arab permanent representative to hold this prestigious position.

Role of the Dispute Settlement Body

The DSB plays a crucial role in addressing issues referred by WTO members regarding their commitments under the organization’s agreements and resolving disputes that may arise among them.

As the chair, Al-Moqbel will have the authority to establish dispute settlement panels, refer matters to arbitration, and oversee the implementation of recommendations and rulings contained in reports. He can also authorize the suspension of concessions in cases of non-compliance.

Saudi Arabia’s Leading Role in the WTO

This appointment is a testament to Saudi Arabia’s leading role in the WTO, having previously held multiple roles such as coordinating the Arab Group and heading various committees.

The Kingdom’s presidency of the General Council for the year 2025-2026 further solidifies its influence within the organization.

Implications of the Decision

Saudi Arabia’s presidency of the meeting of Arab trade ministers last month highlights its “pioneering role” in the world, the Middle East, and the Arab region.

This decision reflects the Kingdom’s commitment to promoting trade relations and upholding international agreements within the WTO.