Saudi Press

Saudi Arabia and the world
Wednesday, Apr 08, 2026

Al-Qasabi: Saudi Arabia eyes economic diversification, increase trade exchange with Islamic countries

Al-Qasabi: Saudi Arabia eyes economic diversification, increase trade exchange with Islamic countries

Minister of Commerce and Chairman of the Board of Directors of the Saudi Standards, Metrology, and Quality Organization (SASO) Dr. Majid Bin Abdullah Al-Qasabi has stressed Saudi Arabia’s intention to move forward towards economic diversification and increasing trade exchange with Islamic and friendly countries to ensure stable and balanced economic growth.
He also voiced the Kingdom of Saudi Arabia’s aspiration to translate the efforts of the Standards and Metrology Institute for Islamic Countries (SMIIC) and other Islamic institutions concerned with standards and quality to contribute to developing the industry and increasing the level of trade exchange to the envisioned level that meets the aspirations and ambitions of Islamic leaders and peoples.

Dr. Al-Qasabi spoke at the inaugural session of the meetings of the General Assembly of SMIIC, which are being held at King Salman International Convention Center in Madinah with the participation of officials from the Organization of Islamic Cooperation (OIC), International Islamic Fiqh Academy, and the Gulf Cooperation Council Standardization Organization, in addition to representatives of several Islamic countries.

The minister of commerce said that the magnitude of challenges facing the global economy as a result of the novel coronavirus (COVID-19) pandemic and the big responsibility placed on our shoulders to develop the quality and safety of products and services to improve the levels of trade among Islamic countries and support the growth and diversity of the Islamic economy require us to exert more efforts and offer more constructive visions that would support integration among member states in the Organization of Islamic Cooperation.

The minister added: “I seize this opportunity, in the presence of leaders of standardization activities in Islamic countries, to ensure the importance of this phase and highlight the importance of revising our strategic plans in a way that supports the recovery stage from the pandemic, and enable us to effectively deal with the rapid technological developments and changes within clear priorities and accurate targets.”

For his part, SASO Governor and SMIIC Chairman Dr. Saad Bin Othman Al-Kasabi expressed pride in Saudi Arabia’s efforts over the past years when it chaired SMIIC presidency and the realized decisions, pledging to continue working to support these efforts and preserve the gains of the Islamic cooperation that have been achieved over the past years and to continue working on fostering integration and cooperation among member countries.

OIC Secretary General Dr. Yousef Bin Ahmad Al-Othaimeen, in a speech that was delivered on his behalf by OIC Assistant Secretary General for Economic Affairs Ahmad Kawesa Sengendo, called on all Islamic countries to exert more efforts and prepare to keep pace with the developments of the Halal products market whose value is estimated at $11.2 trillion by 2028.

Pakistan’s Federal Minister for Science and Technology Shibli Faraz voiced his gratitude for the Kingdom of Saudi Arabia for hosting SMIIC meetings, reviewing the main role played by the standards and metrology in supporting and empowering trade among various countries of the world.

For his part, Gulf Cooperation Council Standardization Organization Secretary General Saud Bin Nasser Al-Khusaibi stressed the importance of coordinating and matching efforts to unify standards, verification procedures and mutual accreditation, so as to remove technical barriers facing the trade movement in a way that contributes to supporting trade exchange and protecting public health, consumers and the environment.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
King Street Aligns with Saudi Sovereign Wealth Fund to Expand Alternative Investments in Middle East
Attack on Saudi Arabia’s Jubail Petrochemical Hub Raises Global Supply Concerns
Debate Emerges Over Saudi Strategic Decisions as Gulf Cooperation Council Dynamics Come Into Focus
Saudi Arabia Expands Full Workforce Localisation to 69 Professions in Major Labour Reform
Emerging Alliance of Pakistan, Turkey, Egypt and Saudi Arabia Signals New Regional Power Dynamic Amid Iran Conflict
Iran Linked to Strikes Across Gulf States Following Refinery Attack Escalation
Saudi Arabia Voices Concern Over Fragile US–Iran Ceasefire Stability
Starmer Warns Sustained Effort Needed to Ensure US–Iran Ceasefire Holds
Saudi Arabia’s Key East-West Oil Pipeline Targeted Following Ceasefire Announcement
Iran Targets Saudi Arabia’s East-West Oil Pipeline in Escalating Regional Tensions
Trump Warns of Civilizational Stakes as Iran Halts Negotiations
Saudi Companies Expand Remote Work Measures Ahead of Iran-Related Security Concerns
Iran Warns of Strikes on Saudi Energy Infrastructure if US Targets Its Facilities
Iran Urges Civilians to Form Human Shields Around Nuclear Sites as Diplomatic Deadline Approaches
Saudi Arabia Raises Oil Prices to Record Premiums Amid Supply Pressures Linked to Iran Conflict
Key Saudi-Bahrain Causeway Closed Amid Heightened Security Concerns Linked to Iran
Formula One Calendar Gap Explained as Fans Await Next Grand Prix
Growing Strain on the Petrodollar System Comes Into Focus Amid Iran Conflict
Reported Strike on Saudi Arabia’s Jubail Complex Raises Global Energy Supply Concerns
FedEx Introduces New Digital Tool to Streamline Imports into Saudi Arabia
Iran Claims Strike on Saudi Arabia’s Jubail Petrochemical Complex Amid Rising Regional Tensions
Taiwan to Source Oil Shipments from Saudi Arabia’s Red Sea Ports
Saudi Arabia Evacuates Riyadh Financial District as Precaution Amid Regional Tensions
Saudi Arabia Balances Ambitious Economic Vision Amid Regional Tensions and Financial Pressures
Budget Saudi Arabia Reports Strong Full-Year 2025 Financial Performance
Saudi Arabia Expands Investment in Capcom With Stake Reaching Six Percent
Saudi Arabia Assesses Significant Economic Impact From Regional Conflict Involving Iran
US Beef Secures Expanded Market Access in Saudi Arabia
Jordan and Saudi Arabia Declare Absolute Solidarity in Response to Iranian Threats
Saudi Arabia Raises Oil Prices to Record Premium Amid Strong Market Demand
California’s Salton Sea Emerges as Strategic Lithium Hub for Clean Energy Future
Iranian Drone Strike on US Embassy in Saudi Arabia Reportedly Targeted Intelligence Facility
Saudi Deputy Foreign Minister Meets French Embassy Official to Strengthen Bilateral Engagement
Saudi Arabia Calls on United States to Seize Strategic Opportunity to Reshape Middle East
Dating Apps Surge in Saudi Arabia as Social Norms Rapidly Evolve Among Youth
Saudi Arabia Detains Over Fourteen Thousand Illegal Residents in Week-Long Enforcement Drive
Saudi Foreign Minister Engages in Diplomatic Talks with Pakistan, Kuwait and Latvia on Regional Developments
Saudi Arabia Intercepts Cruise Missile as Regional Tensions Intensify
Saudi Stock Market Edges Higher as Tadawul Index Records Modest Gain
Underlying Rivalry Between Saudi Arabia and UAE Persists Despite Temporary Calm
Saudi Arabia’s Non-Oil Sector Contracts in March as Regional Tensions Weigh on Business Activity
Saudi Arabia Unveils Ambition to Establish Prestigious Global Prize Rivaling the Nobel
Saudi Crown Prince to Engage Wall Street in Push for Investment and Economic Expansion
Iran Accuses Saudi Arabia and UAE After Downing of Chinese-Made Drone
Saudi Arabia Condemns Attack on Hospital in Sudan, Calls for Protection of Civilians
Coordinated Drone Strike Targets CIA Facility Within US Embassy in Saudi Arabia
Italy’s Meloni Prioritises Energy Security and Strait of Hormuz Stability During Gulf Tour
Uncertainty Emerges Over Timeline and Direction of Saudi Arabia’s Ambitious Ski Resort Project
UAE and Saudi Arabia Escalate Strategy with Drone Operations Targeting Iran
Trump Delivers Characteristic Remarks on Saudi Crown Prince Amid Intensifying Iran Conflict
×