1996 News Story

Talks continue in Geneva on Saudi membership of WTO

The second round of talks on the membership of the Kingdom of Saudi Arabia in the World Trade Organization (WTO) are under way today. At the first session yesterday, leader of the Saudi delegation Minister of Commerce Osama Faqih delivered a speech spotlighting the steps taken by the Kingdom to meet the conditions of membership, including written answers to questions raised concerning Saudi trade systems. The Saudi delegation also briefed the meeting on Saudi laws covering copyright, and regulations governing investment and foreign capital in accordance with WTO standards. Minister Faqih later met with the Director-General of WTO and reviewed with him the importance of the Kingdom's membership in view of its tremendous regional and international economic weight.

In 1995 the Kingdom of Saudi Arabia was placed number 27 in the list of exporting countries of the world, with a value of exported goods amounting to U.S. $ 38.9 billion.