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Saturday, September 10, 2005
The current members of the WTO
Saudi Arabia signed on Friday a trade agreement with the United States, which was considered to be one the last major hurdles to the World Trade Organisation membership of the kingdom. Now, Saudis have to complete negotiations at the Geneva-based WTO on the formal accession document.
The deal opens Saudi markets to US farm and manufactured goods, as well as most services, including IT, financial, energy and tourism sectors. It also forced Saudis not to boycott US companies which are doing business with Israel.
The kingdom also promised to have normal trade relations with all 148 WTO members, which include Israel.
The other problem remains a Saudi-EU row over gas prices. The EU officials accused Saudi Arabia of selling the natural gas to their home petrochemicals at rates below international market prices, which could cause losses to the European producers.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
The text of this article has been released into the public domain. In the event that this is not legally possible, this article may be used for any purpose, without any condition, unless such conditions are required by law. This applies worldwide. Copyright terms on images, however, may vary, so please check individual image pages prior to duplication.
