Saudi’s ICC approves draft initiative for 4 digital projects

The four platforms will be available in the organization’s accredited languages as well as Arabic, and they are expected to support the spreading of policies, laws, and agreements regarding international commerce and commercial laws about the organization’s 142 member states.

The International Chamber of Commerce (ICC) and World Chambers of Commerce (WCC) approved a draft initiative by the Saudi Arabia International Chamber of Commerce to establish four international digital platforms with annual deals of around $1 billion and revenues of around $25 million for the Saudi Arabia International Chamber of Commerce and ICC.

This statement was made by Advisor Saif Al-Turki, Chairman of the Chamber and the Kingdom of Saudi Arabia’s representative at the ICC. This was done after the chamber delegation visited Mexico City to participate in the ICC World Council’s periodic meeting, as well as the regional economic forum for the Americas and the International Court of Arbitration conference.

He went on to say that the four platforms will be in the organization’s accredited languages as well as Arabic and that they are expected to help spread policies, laws, and agreements of international commerce and commercial laws pertaining to the organization’s 142 member states.

It will also review economic zones and investment opportunities for G20 countries, display logistic services for organization members, and establish a connection hub between supply and demand for companies and clients from all member countries.

The Kingdom of Saudi Arabia and Mexico have strong ties that go back more than 70 years, according to Haitham Al-Malki, the Saudi ambassador to Mexico. Saudi Arabia receives investment from Mexico and benefits from a fair competitive feature with a wealth of investment, economic, and commercial opportunities thanks to Mexico’s safe and energizing business climate.

Al-Malki hopes to expand economic and investment opportunities between the two countries, as well as trade exchanges while keeping stakeholders in mind.