Impact of WTO in the Kingdom of Saudi Arabia

1. IMPACT OF WTO IN THE
KINGDOM OF SAUDI
ARABIA
Student Name : Ayah Leen Adel
Instructor :Dr.Rehana Parveen

2. •Saudi Arabia joined the WTO in 2005 and got to be one of the member
states in this imperative exchange association. By this, Saudi buyers will
appreciate a more extensive territory and nature of items and
administrations at lower costs. It will open up the Saudi economy to more
prominent straightforwardness, assurance of copyrights, and more
remote speculation. In the meantime, it will permit Saudi exporter's fair
access to WTO nations.

3. •Saudi Arabia being a member in WTO could specially affect the country's
different modern segments, particularly on some key industries, for
example, the petrochemical, broadcast communications and the financial
industries.

4. THE PETROCHEMICAL INDUSTRY
•The petrochemical industry is overwhelmed by the dominant part claimed Saudi Arabian
Basic Industries (SABIC).
•The Saudi petrochemical industry is for the most part focused as far as levies connected
by driving industrialized nations that are as of now members of WTO.
•Saudi Arabia has resolved to lower its taxes and open its business sectors to imported
petrochemical items with duties on polyethylene, polypropylene and polystyrene
lessened from 12% to 8% between time period 2008-2010.

5. BROADCAST COMMUNICATIONS
•Saudi Arabia is generally perceived as the biggest broadcast communications showcase
in the Middle East, with an expected 30% development/annum.
•Mobily is making somewhere in the range of 5,000 occupations throughout the following
four years. From its side, STC found a way to advance its upper hands by presenting
numerous administrations (e.g., Qitaf Point)

6. FINANCIAL INDUSTRY
•while Saudi banks see WTO as a chance to profit by their neighborhood customer
learning and specialty retail, purchaser and Islamic financing items. It is in the Saudi
protection segment that the most effect will be felt with remote organizations forcefully
pushing for a bigger piece of the overall industry in a yet moderately undiscovered
individual, corporate and institutional protection segment.

7. TRADE FACILITATION AGREEMENT (TFA)
•The Ministry of Commerce and Investment declared that Saudi Arabia stores its
instrument of acknowledgment to the WTO to confirm the Trade Facilitation Agreement.
In this manner, Saudi Arabia is the second Arab nation to inform the "WTO" with that.
•This confirmation will help the kingdom to achieve the goal towards upgrading promising
outside venture chances to build the odds of the wanted financial advancement
incorporated the kingdom's vision 2030 and the National Program of Transformation
2020.

8. CONCLUSION:
•Saudi Arabia has settled on a vital choice to join the World Trade Organization (WTO) to
profit by globalization and exchange opportunities. Of course WTO has both its negative
and positive impact on KSA, but the positives are way more than the downsides.

9. •Thank you