some closed sectors such as telecommunications, insurance, and power transmission/distribution over time. Saudi Arabia became a full WTO Member on 11 December 2005. In 2019, the government established the General Authority for Foreign Trade to enhance the kingdom's international commercial and investment activities. In early July 2020, Saudi Arabia announced the nomination of its former Minister of Economy and Saudi royal court adviser, Mohammad Al-Tuwaijri, for the role of WTO's director-general. The nominations were made public about a month after the World Trade Organization reported the kingdom for copyrights infringement following distribution of pirated sports broadcasting content on the state-owned broadcast service, BeoutQ. The nomination of al-Tuwaijri received criticism from human rights groups in mid-August 2020, demanding the rejection of the Saudi nominee due to the kingdom's violation of human rights in addition to his silence over it. On 7 October 2020, Al-Tuwaijri along with other nominees from the UK and Kenya, lost the bid for WTO due to lack of support for their bids, as compared to the nominees from Nigeria and South Korea who qualified for the final round of selection. Saudi Arabia is part of the following trade organizations: World Trade Organization (WTO) International Monetary Fund (IMF) International Chamber of Commerce (ICC) International Organization for Standardization (ISO) World Customs Organization (WCO) Challenges Among the challenges to the Saudi economy include halting or reversing the decline in per capita income, improving education to prepare youth for the workforce and providing them with employment, diversifying the economy, stimulating the private sector and housing construction, and diminishing corruption and inequality. In answer to the question of why the Saudi economy is so dependent on foreign labor, the UN Arab Human Development Report blamed stunted social and economic development inhibited by lack of personal freedom, poor education and government hiring based on factors other than merit, and exclusion of women. Income drop Despite possessing the second largest petroleum reserves in the world, per capita income dropped from approximately $18,000 at the height of the oil boom (1981) to $7,000 in 2001, according to one estimate. As of 2013, due to the rapid population growth of Saudi Arabia, per capita income in Saudi was "a fraction of that of smaller Persian gulf neighbors", even less than petroleum-poor Bahrain. Unlike most developed countries where gross domestic product growth is a function of increases in productivity and inputs such as employment, in Saudi the