Washington Times

Saudi Arabia, U.S. to sign trade agreement

20 July 2005

(United Press International)

Saudi Arabia will sign a trade agreement with the United States in the next two days to pave the ground for entering the World Trade Organization.

Minister of Trade and Industry Hashem Yamani said in comments carried Wednesday by the Saudi Press Agency that "the technical Saudi team completed all negotiations with the U.S. and reached a settlement for pending technical problems."

"Only the signing of the bilateral trade agreement with Saudi Arabia’s biggest trade partner remains and this should happen later this week," Yamani said.

He said the agreement will help Saudi Arabia join the WTO.

Saudi Arabia is the only member of the six-state Gulf Cooperation Council not a member of the WTO. The others are Kuwait, Bahrain, Qatar, Oman and the United Arab Emirates.