Reforms of sponsorship, customs, and investment systems before the World Trade Organization

The Kingdom presented the ongoing reforms to abolish the sponsorship system and develop customs and investment procedures to World Trade Organization meetings. This came during the meeting organized by the General Authority for Foreign Trade between the Saudi team concerned with the third review of trade policies of the Kingdom, which is chaired by the Commission and whose membership includes representatives of (42) governmental bodies concerned with trade and investment policies in the Kingdom and experts of the organization’s secretariat, through video communication over a period of two days recently, within A series of meetings that have taken place since the start of the review procedures in March 2020, spanning an entire year. The Governor of the General Authority for Foreign Trade, Abdul Rahman bin Ahmed Al-Harbi, explained that the meetings aimed to inquire about some policies, information and data related to the Kingdom’s trade policies for the review period that starts from January 2016 to December 2020.

He indicated that the meetings come in preparation for holding the main meeting to review the trade policies of the Kingdom at the headquarters of the World Trade Organization in Geneva during the month of March 2021 AD, indicating that the review mechanism covers several axes, most notably the economic environment, trade and investment regulations, analysis of trade policy tools, and performance according to sectors

The Trade Policy Review Mechanism aims to contribute to improving the commitment of member states of the Organization to the rules, regulations and obligations established under the multilateral agreements and as a tool to increase awareness of the global trading system. The trade policy review process includes two reports: the “Secretariat Report” prepared by the Secretariat of the World Trade Organization, which is a detailed report on the trade policies of the member state. Prepared and included an explanation of the trade policies currently applied and mentioned the positive points that were not addressed in the Secretariat’s report, which reflects the developments and progress made by the Kingdom during the review period. Exports.

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