2005 News Story

Commerce Minister: Kingdom will honor its WTO commitments

In remarks to the press, Minister of Commerce and Industry Dr Hashem Yamani again highlighted the importance of Saudi Arabia’s admission to the World Trade Organization (WTO). He stressed the Kingdom’s intent to honor its commitments towards the WTO, including cutting agricultural subsidies by 13.3 percent next year as well as reducing tariffs on some commodities.

Yamani headed Saudi Arabia’s delegation to the WTO meeting in Hong Kong, the Kingdom’s first as a full member of the organization since officially entering the trade organization on December 11.