The Kingdom of Saudi Arabia stands to benefit from the ongoing shifts in global supply chains - from fair trade to a managed and rule-driven trade model - as it can play a vital role as a connector economy linking Africa with Europe and Asia, said Majid A. Alkassabi, the Minister of Commerce.

He was speaking at a special session titled ‘Many Shapes of Trade’, on the concluding day of the World Economic Forum Annual Meeting in Davos yesterday (January 23).

Addressing the gathering, Alkassabi said: "Trade today is definitely shifting from fair trade to a managed and rule-driven trade model. For us in Saudi Arabia, we have a strategic location, we have a lot of resources, we could become a bridge economy."

"We could become a connector economy where we can connect with Africa, with Europe, with Asia,becoming a logistic hub," he stated.

Ahmed A. Alkhateeb, Minister of Tourism, in a session called ‘The New Geography of Travel: Elevating Destinations, Expanding Opportunity’, said: "UN Tourism is projecting the number of tourists to grow to 2 billion by 2030, which means adding 500 million. This is a lot, and this is very encouraging for Saudi Arabia – for its hotel operators, investors and technology providers. This is an industry of amazing potential."

Mohammed A. Aljadaan, Minister of Finance, said: “Our role as policymakers is to ensure that a predictable environment is provided for businesses, and we are doing so by strengthening the resilience of our economy and giving the private sector the confidence it needs."

Abdullah A. Alswaha, Minister of Communications and Information Technology, in ‘Converging Technologies to Win’, said: "In AI, the kingdom is tackling the energy wall and the memory wall. We’re issuing a call to our partners, that in the Intelligence Age, you need a partner that can accelerate AI, but more critically adopt AI and the kingdom stands as your partner of choice."

Bandar I. Alkhorayef, the Minister of Industry and Mineral Resources, in ‘A Collective Voice on the Future of Minerals: Aligning Policy, Investment and Supply’, said: "The Kingdom adopts a multilateral approach to international cooperation, creating platforms that enable dialogue and partnership. The Future Minerals Forum stands at the forefront, now a globalconvening platform uniting governments, industry, finance, academia, and technology leaders."

Speaking in ‘Redefining Economic Partnerships: From Dialogue to Delivery’, FaisalF. Alibrahim, Minister of Economy and Planning, said: "I believe there is a world where every country can unlock its economic potential and still keep dialogue open."

"There has never been a more blank canvas or a wider opportunity for us to design the future," he added.