Saudi unhindered to join WTO

Saudi unhindered to join WTO

DUBAI (Reuters): Saudi Arabia's Commerce Minister Osama al- Faqih said in remarks published on Sunday there were no obstacles preventing the kingdom joining the World Trade Organization (WTO) although membership talks were tough.

The Arabic daily al-Hayat said the minister denied there were any obstacles when asked by the newspaper and said that "joining demands the completion of the current negotiations".

He said the talks were "tough", which was indicated by the length of time they were taking, adding that the organization needed details of trade and investment in the kingdom.

Faqih held negotiations last month with the WTO in Geneva, the latest in scores of similar talks.

Saudi Arabia, still largely dependent on oil and petrochemicals although it has been seeking to diversify its economy, first applied to join the WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), in 1993.