Former Saudi minister vies for top post at WTO

Al Tuwaijri had served as minister of economy

Saudi Arabia has nominated Mohammad Al Tuwaijri for position of director-general at World Trade Organisation (WTO).

He was the kingdom’s minister of economy and planning from 2016, before being relieved in March. As minister, Al Tuwaijri oversaw sweeping changes the economy initiated as part of Vision 2030, which has set a target of raising the private sector’s contribution to GDP of 65 per cent from its current 40 per cent.

At this year’s World Economic Forum in Davos, Al Tuwaijri in an interview to Al Arabiya emphasised the importance of the non-oil sector in securing growth. “We care to increase the local content and provide jobs when looking into the economic growth and this is one of the main objectives of Vision 2030, from the privatisation program to the industry programme,” he said.

Before his appointment to the ministry, Al Tuwaijri had stints at Saudi British Bank as head of risk management before becoming managing director and CEO of JP Morgan Saudi Arabia, when it launched operations there.

After that, he moved to HSBC Holding, where he served as group managing director, deputy chairman and CEO of HSBC Bank Middle East and North Africa.

The race is on lead the World Trade Organisation out of the worst crisis of its 25year existence.

A hot contest ahead

According to Bloomberg, delegates from the WTO’s 164 members will select from a roster of eight candidates to become the seventh directorgeneral of the Geneva-based trade body. The nominations closed on Wednesday.