The WTO holds that free market, rules-based economies are more transparent than state-run economies and sees them as more fit for membership. Joining the WTO will force Saudi Arabia to further liberalize its economy and would place its economic policies under international scrutiny, depriving Saudi policy makers of a certain degree of freedom. The organization requires the removal of barriers to Saudi trade protectionism, lower import tariffs and opening up key service sectors to foreign participation in all policies that remove the protection of local producers from competition.
The WTO holds that free market, rules-based economies are more transparent than state-run economies and sees them as more fit for membership. Joining the WTO will force Saudi Arabia to further liberalize its economy and would place its economic policies under international scrutiny, depriving Saudi policy makers of a certain degree of freedom.
ReplyDeleteThe organization requires the removal of barriers to Saudi trade protectionism, lower import tariffs and opening up key service sectors to foreign participation in all policies that remove the protection of local producers from competition.