JEDDAH, 27 August 2004 — A Saudi team, led by Dr. Fawaz Al-Alamy, deputy commerce and industry minister, has left for Washington to hold another round of talks with US officials as part of the Kingdom’s efforts to join the World Trade Organization.
US Ambassador James C. Oberwetter has said in a published statement that his country will support the Kingdom’s WTO accession. “I am quite happy to understand (Saudi) ministers and officials have made progress in their negotiations,” Al-Riyadh Arabic daily quoted Oberwetter as saying.
The ambassador hoped the Kingdom would become a WTO member by the end of this year. “I am making contacts with officials in Washington to pursue the matter and do whatever possible to advance the Kingdom’s accession to the international organization.”
The United States is the only WTO member country, with which Saudi Arabia has not yet reached a bilateral agreement. However, Alamy has reported that negotiations with Washington had reached “advanced stages.”
“We have come a long way in our efforts to join the organization,” Alamy said, adding that the Kingdom has signed bilateral WTO agreements with 35 countries.
He said 148 countries are members in the organization, which control 89 percent of the world trade, 90 percent of financial transaction and 91 percent of the telecom sector.
Alamy also indicated that the Kingdom would become mandated by the organization’s 28 agreements before completing the membership procedure. He said 500 experts from various government ministries and institutes were involved in the negotiations.
The US warned recently that it could not support Saudi Arabia’s accession until issues relating to its financial services sector, fuel subsidies and intellectual property rights had been addressed.
