THE SIGNS ARE positive that Saudi Arabia will participate in the World Trade Organisation ministerial conference in Hong Kong in December as the 149th member.
The country's decade-old efforts to join the organisation received a major boost, following the signing of a key trade agreement with the United States recently.
'The agreement was the result of nearly five months of intensive negotiations and was decisive in Saudi Arabia's drive to join the WTO,' said Commerce and Industry Minister Hashim Yamani.
At present, Saudi Arabia is the largest economy outside the WTO.
In preparation for WTO ascension, the kingdom has taken major steps towards privatisation and market liberalisation.
The Hong Kong conference is meant to set the seal on four years of negotiations for a comprehensive free-trade treaty. Saudi Arabia still needs to complete talks with other WTO members, but the deal with Washington removes one of the biggest obstacles that stood in the way of its membership. The kingdom has so far signed WTO accords with 38 countries, including China and the European Union.
