Why the Saudis joined the party

摘要

WHEN THE World Trade Organization(WTO)meets in Hong Kong on 13 December,Saudi Arabia will in all probability be sitting at the table as its 149th member.The invitation to the party comes after 12 years of persistence,and commits the kingdom to a range of trade measures.It must gradually lower trade barriers and expand market access for foreign goods.According to the WTO,Riyadh has bound all import tariffs.At the end of the 10-year implementation period,average bound tariff levels will fall to 10.5% for non-agricultural products.