News in Depth
October 28, 2005

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World Trade Organization Accession: Saudi Arabia Gets "Green Light"

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Editor's Note

The Kingdom of Saudi Arabia has pursued membership in the world's leading international organization dealing with the rules for trade between nations since June 1993, about a year and a half before the formation of the World Trade Organization. In 1993 it was the General Agreement on Tariffs and Trade, or GATT, that was responsible for formulating international trade rules until the end of the Uruguay Round and the inauguration of the WTO on January 1, 1995. 

Since July 1993 Saudi Arabia's progress has been governed by a "Working Party" that oversaw every twist and turn of the multilateral and bilateral negotiations required to meet WTO accession requirements. Today that "Working Party" completed its work on negotiations for Saudi Arabian accession -- turning on the green light -- leaving only approval by the WTO Governing Council to complete the membership process.

This SUSRIS NID provides a wrap-up of reporting on the Working Party's completion along with information on what the WTO is and how it works, and links to other background material on Saudi Arabia's 12 year path to join the world's top trading organization.

WTO
http://www.wto.org/english/thewto_e/whatis_e/tif_e/tif_e.htm
GATT
http://www.ciesin.org/TG/PI/TRADE/gatt.html
Uruguay Round
http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact5_e.htm
Working Party
http://www.wto.org/english/thewto_e/acc_e/a1_arabie_saoudite_e.htm#top

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WTO Statement

Lamy welcomes conclusion of Saudi Arabia's WTO negotiations
Director-General Pascal Lamy, on 28 October 2005, welcomed the conclusion of the Working Party negotiations on the accession of Saudi Arabia to the WTO. �This is a very important step in Saudi Arabia's accession to the WTO. I am glad to see that the tremendous amount of work done by Saudi Arabia has now brought it closer to WTO entry. We look forward to confirmation by the General Council in the days to come,� he said.�

Source: WTO.org 

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News Reporting

WTO Members Approve Saudi Accession
P.K. Abdul Ghafour, Khalil Hanware & Maha Akeel, Arab News

JEDDAH, 29 October 2005 � Major trading nations yesterday approved Saudi Arabia�s accession to the World Trade Organization during a key meeting in Geneva as WTO chief Pascal Lamy called the decision historic.  Commerce and Industry Minister Hashem Yamani, who led the Saudi negotiating team, called it �a victory for the principles and objectives of the multilateral trading system.� Saudi economists applauded the WTO accession as �an important milestone� in the Kingdom�s history.

The WTO working team, including all major trading nations, yesterday approved the final package of Saudi entry terms, which must be endorsed by the ruling General Council on Nov. 11. Approval in the Council is seen as a foregone conclusion, officials said.

[more] 

Saudi Arabia gets OK to join WTO (Business Week) 
[more] 

Saudi Arabia gets nod for WTO entry by year-end (Reuters) 
[more] 

Saudis on brink of WTO membership (BBC) 
[more] 

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About the WTO -- by the WTO

The WTO was born out of negotiations; everything the WTO does is the result of negotiations.

>�What is the World Trade Organization?
http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact1_e.htm

>�Principles of the trading system
http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact2_e.htm

>�The case for open trade
http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact3_e.htm

>�The GATT years: from Havana to Marrakesh
http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm

>�The Uruguay Round
http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact5_e.htm

Ten benefits of the WTO

1. The system helps promote peace
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b01_e.htm

2. Disputes are handled constructively
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b02_e.htm

3. Rules make life easier for all
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b03_e.htm

4. Freer trade cuts the costs of living
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b04_e.htm

5. It provides more choice of products and qualities
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b05_e.htm

6. Trade raises incomes
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b06_e.htm

7. Trade stimulates economic growth
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b07_e.htm

8. The basic principles make life more efficient
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b08_e.htm

9. Governments are shielded from lobbying
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b09_e.htm

10. The system encourages good government
http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b10_e.htm

The Organization - The WTO is �member-driven�, with decisions taken by consensus among all member governments.

> Whose WTO is it anyway?

> Organization chart

> Membership, alliances and bureaucracy

> Secretariat chart

> Special policies

> Members list

> Least-developed countries listSource: WTO.org

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On SUSRIS

> WTO Accession: One Step Closer - SUSRIS IOI - Oct. 12, 2005


> WTO Accession Info