The Kingdom of Saudi Arabia and the European Union on Sunday signed an agreement pertaining to markets in commodities and service sectors. This development is part of the Kingdom’s efforts to join the World Trade Organization (WTO).
The agreement was signed by Saudi Minister of Commerce, Dr Hashim Yamani, on behalf of the Kingdom, and European Commercial Commissioner, Baskal Lamy, who is currently visiting the Kingdom, on behalf of the EU.
The agreement confirms the keenness of the Kingdom and the WTO to work together to pave the way for admission of the Kingdom to the WTO.
The agreement will make the number of the bilateral agreements concluded by the Kingdom within the framework of its efforts to join the WTO total 14. Thus far, the Kingdom has signed bilateral agreements with Japan, Australia, New Zealand, Canada, Malaysia, South Korea, Mexico, Argentina, Brazil, Venezuela, Ecuador, Pakistan, Turkey, and the EU, which comprises 15 European countries.
Source: SPA
