The Minister of Commerce and Industry of the Kingdom of Saudi Arabia, Dr Hashim bin Abdullah Yamani, and U.S. Trade Representative, Robert Zolick, on Thursday signed an agreement for the development of commercial and investment relations between the two countries.
During the meeting, they also discussed relations between the Kingdom and the United States of America in the fields of trade and investment.
A statement said that a Saudi-U.S. Council for Trade and Investment will be established, under the leadership of the Saudi Ministry of Trade and Industry and the U.S. Trade Representative’s Bureau, noting that the Council will meet on a yearly basis. The two sides will consider signing additional agreements on trade, protection of intellectual property rights, investment, vocational training and environmental issues.
The agreement was signed during a visit of the Saudi negotiating team to Washington, led by the Minister of Commerce and Industry, to hold negotiations with his U.S. counterpart to achieve the Kingdom’s accession to the World Trade Organization.
The delegation included Abdullah bin Ahmed bin Yosef Zainal, Minister of State and Cabinet Member, and other officials.
Source: SPA
