2005 News Story

Minister of Commerce says Saudi Arabia will benefit from WTO entry

In Hong Kong for the World Trade Organization (WTO) summit, Minister of Commerce and Industry Dr Hashem Yamani said Saturday that one of the greatest advantages of Saudi Arabia’s entry into the WTO is that it will make the Kingdom more competitive in international markets.

In remarks to the press, Yamani said that admission to the WTO would accelerate the pace of reform already underway in the Kingdom.

The minister said that Saudi Arabia did not make many concessions in order to enter the WTO, and that negotiations for its admission took almost 12 years because the Kingdom was concerned with preserving its religious and social values.