The bilateral negotiations between the Kingdom of Saudi Arabia and member states of the World Trade organization (WTO) have led to the signing of 7 bilateral agreements, the Arab News reported.
The Saudi Minister of Commerce and Industry and head of the negotiation team, Dr. Hashem Yamani, pointed out that the total number of bilateral agreements concluded has reached up to 24.
The Kingdom has signed agreements with Poland, Latvia, Hungary, Kyrgyzstan, South Africa, Taiwan and Paraguay.
Yamani also said negotiations with another group of WTO member states were in the final stages, adding that agreements could be reached with them next month. “Once we sign all these agreements, we will have fulfilled the main requirement for WTO accession,” he said.
The agreement with the United States is the last major bilateral hurdle for the Kingdom before it joins the WTO, the global trade body set up in 1995 to lower barriers to the exchange of goods and services among members.