Saudi Arabia, Kingdom of
Concluding Remarks by the Chairperson of The Trade Policy Review Body, H.E. Mr. Mario Matus and He. Mr. Eduardo Muñoz Gómez at The Trade Policy Review of The Kingdom of Saudi Arabia 25 and 27 January 2012
This first Trade Policy Review of the Kingdom of Saudi Arabia has given us a better understanding of the evolution of its trade and related policies since its accession to the WTO in 2005 and enabled us collectively to measure the challenges it faces in maintaining its economic prosperity. Our discussion has proved more engaging thanks to the full and open participation of the Saudi delegation led by H.E. Dr. Tawfiq Al-Rabiah Minister of Commerce and Industry and by the insightful remarks made by the discussant H.E. Ambassador Joakim Reiter of Sweden as well as the active participation by numerous Members.
Report by the WTO Secretariat
Since its accession to the WTO in December 2005 the Kingdom of Saudi Arabia has continued a development strategy aimed at inter alia diversifying its economy away from crude oil and natural gas (23% of real GDP 91% of government income and 86% of export earnings in 2010). This is being done by promoting downstream industries improving education and health services and modernizing infrastructure. The development strategy has been centred on a liberal trade regime and has been accompanied by structural reforms that have created a more business-friendly environment.