Minister of commerce and industry Dr Hashim Yamani has affirmed that the merger of the Saudi economy with other global economies constitutes one of the most distinguished advantages for the admission of the Kingdom of Saudi Arabia to the World Trade Organization (WTO). In a statement to newsmen here on Saturday, Dr Yamani said the countries which have joined the WTO have done so solely in their own interest and only for their own good. Dr Yamani reiterated the keenness of Saudi officials on making the Kingdom capable of standing on its own feet at the competitive international markets, and to becoming attractive for foreign investments. He pointed out that economic reforms were already going ahead in the Kingdom, but its admission to the WTO would make it necessary to accelerate the process of reforms. Dr Yamani said the Kingdom had not made any concession for completing its admission to the WTO, adding that the Kingdom is keen on preserving its deep-rooted religious and social principles, and for that reason negotiations for admission to the WTO had taken almost 12 years. -SPA 1055 Local Time 0755 GMT
