2003 News Story

Saudi-U.S. agreement on commerce and investment

Minister of Commerce and Industry Dr. Hashem Yamani and U.S. Trade Representative Robert Zolick signed in Washington DC yesterday an agreement on the development of commercial and investment relations between their two countries. A statement was released, announcing the establishment of a Saudi-U.S. Council for Trade and Investment, to meet at least once a year. The two sides will review the signing of additional agreements on trade, protection of intellectual property rights, investment, vocational training, and environmental issues. The signing came on the sidelines of the visit of a Saudi negotiating team for an advance round of bilateral negotiations on the Kingdom's desired accession to the World Trade Organization (WTO).