Trade Policy Review - Saudi Arabia: 2021

Trade Policy Reviews analyse the trade policies and practices of every member of the World Trade Organization. As well as analysing by sector and by trade measure, the reports also look into the country’s wider economic environment. The reviews consist of three main parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body following discussion of the review by the WTO membership.

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A key trade facts section at the front of the review provides a handy visual overview of the country’s major exports/imports, its main export destinations, the main countries of origin for its imports and other key economic data.

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The General Agreement on Tariffs and Trade (GATT) was created in 1947 and operated almost five decades on a provisional basis until 1995 when the WTO was established. Its goal is to improve the welfare of peoples of its member countries, specifically by lowering trade barriers and providing a platform for the negotiation of trade. The organization deals with the rules of trade between nations at a global or near global level; it is responsible for negotiating and implementing new trade agreements and charged with policing Member Countries’ adherence to all WTO agreements. In 2007 there were 150 Member States.