2001 News Story

Sixth conference of Saudi businessmen opens today in Taif

Minister of Commerce Osama Faqih chaired the first working session of the sixth conference of Saudi businessmen, which opened today in Taif. The session covered the impact on the national economy of globalization and of the Kingdom's admission to the World Trade Organization (WTO). The speakers remarked that the Saudi economy has made great strides over the past three decades, positively contributing to the improvement of the citizens' standard of living. The Saudi economy, they noted, is based on the principles of free enterprise, and encourages businessmen and the private sector to play a significant role in the country's economic development.