The General Assembly of the World Trade Organization today accredited the credentials of the accession of the Kingdom of Saudi Arabia to the WTO, making the Arab country the organization's 149th member.
Dr. Hashim bin Abdullah Yamani, the Minister of Commerce and Industry, led the Kingdom's delegation to the meeting, which was attended by delegates of the other 148 members.
In a key address, Chairman of the meeting, Amna Mohammed lauded the hard efforts exerted by the Saudi negotiating team over the last ten years which culminated in joining the WTO.
The Director General of the Organization, Pascal Lame (from France) said the admission of the Kingdom of Saudi Arabia to the WTO enhances the organization's status due to the effective leverage of the Kingdom at the international arena.
On his part, Yamani thanked the members and officials of the Organization for accrediting the Kingdom's bidding to join the WTO.
He reiterated the Kingdom's commitment to the laws and regulations of the organization and vowed that his country would cooperate with other members to enhance the pioneering role of the Organization in the world.
He said the Kingdom would be looking forward to working with the developing countries to ensure increasing its contributions to development efforts, developing its trade system, enhancing its role and upgrading its development ability.
The Kingdom's accession to the WTO was also lauded by a number of members who addressed the meeting.
The U.S. representative welcomed the Saudi membership to the WTO, lauding the relations binding his country with the Kingdom, particularly in the economic field.
Following the meeting, Yamani, Mrs Mohammed and Lame held a joint press conference. The chairman of the meeting described this day, marking the accession of the Kingdom of Saudi Arabia to the WTO, as historical.
She said the Kingdom would become a full member of the organization 30 days from today. The Kingdom is now eligible to attend the WTO Hong Kong's meeting on 11th of December 2005, she told reporters.
On his part, Lame said the accession of the Kingdom to the WTO was in the interest of the Kingdom, its trade partners and the WTO itself which, he said, has won a new important member.
On his part, Yamani said this historic step would definitely help in merging the Saudi economy with the world economy, increasing domestic and external investments, creating new job opportunities for Saudi nationals and increasing the ability of Saudi products and services to have access to international markets.
Then Yamani and the Director General of the WTO co-signed the documents announcing the accession of the Kingdom of Saudi Arabia to the organization.
Then a photo-taking session followed.
