Accord with U.S. opens way for Saudi World Trade Organization bid

The United States and Saudi Arabia have concluded a bilateral market access agreement, paving the way for Saudi Arabia to complete its accession bid to the World Trade Organization (WTO).

"This represents progress for Saudi Arabia, the United States and the WTO," said U.S. Trade Representative (USTR) Rob Portman in a September 9 press release. "As a result of negotiations on its accession to the WTO, we will see greater openness, further development of the rule of law, and political and economic reform in Saudi Arabia." As part of the new bilateral agreement, Saudi Arabia has revised many of its trade policies, particularly laws related to intellectual property rights, and lowered tariff and nontariff trade barriers.