Trade
In recent years, Saudi Arabia sought to join the World Trade Organization. Negotiations have focused on the degree to which Saudi Arabia is willing to increase market access to foreign goods and services and the timeframe for becoming fully compliant with World Trade Organization obligations. In April 2000, the government established the Saudi Arabian General Investment Authority to encourage foreign direct investment in Saudi Arabia. Saudi Arabia maintains a negative list of sectors in which foreign investment is prohibited, but the government plans to open some closed sectors such as telecommunications, insurance, and power transmission/distribution over time. As of November 2005, Saudi Arabia was officially approved to enter World Trade Organization.
Read more about this topic: Economy Of Saudi Arabia
Famous quotes containing the word trade:
“Until the end of the Middle Ages, and in many cases afterwards too, in order to obtain initiation in a trade of any sort whatever—whether that of courtier, soldier, administrator, merchant or workman—a boy did not amass the knowledge necessary to ply that trade before entering it, but threw himself into it; he then acquired the necessary knowledge.”
—Philippe Ariés (20th century)
“The very hirelings of the press, whose trade it is to buoy up the spirits of the people ... have uttered falsehoods so long, they have played off so many tricks, that their budget seems, at last, to be quite empty.”
—William Cobbett (1762–1835)
“Killers, huh? I’d trade the pair of you for a good Camp Fire Girl.”
—Daniel Taradash (b. 1913)