JEDDAH, 13 September 2005 — Saudi Arabia will deal with all members of the World Trade Organization (WTO) in accordance with WTO agreements when it joins the world body, Commerce and Industry Minister Dr. Hashem Yamani, who led the Kingdom’s WTO negotiating team, announced last night.
He said the secondary and tertiary boycott of Israel had been abrogated with the Cabinet decision dated 14/1/1426 based on a resolution taken by the GCC summit in December 1993. Yamani expressed his confidence that the Kingdom’s accession to the WTO would strengthen the economy, especially the industrial sector. “The Kingdom’s imports and exports represent about two-third of the gross domestic product, which is higher than that of many other member states,” he pointed out.