2000 News Story

SAGIA Governor stresses importance of WTO membership

Governor of the Saudi Arabian General Investment Authority (SAGIA) Prince Abdullah bin Faisal bin Turki has stressed the importance of the Kingdom acceding to membership of the World Trade Organization (WTO). Speaking in Dammam yesterday at a Chamber of Commerce event to honor five local companies for outstanding performance, he said that WTO membership is the key to penetrating international markets. The Kingdom, he said, has completed the building of its infrastructure and has achieved self-sufficiency in several sectors, and the target is now global. He urged the private sector to reach out for international markets, saying the Saudi market is currently very attractive for foreign investors, and expressing confidence that the new investment regulations will encourage many international companies to set up business ventures in the Kingdom.

Governor of the Eastern Province Prince Muhammad bin Fahd bin Abdulaziz commended the five companies for their efforts in promoting Saudi products abroad and presented them with awards for their excellent performance. The five companies are Saudi Arabian Alkaline Company, Qahtani Pipe Coating, Binzager Walls, Olayan, and Arabian Kimberly Clarke.