The Saudi Government has initiated several new policies and laws that have enhanced the business climate for foreign companies in the Kingdom. Saudi Arabia continues to make progress in integrating international standards. Strengthening standards in Saudi Arabia will positively affect foreign firms in many sectors including food, electrical goods, construction, chemicals, pharmaceuticals, and telecommunications.
The Saudi Government is pursuing individuals and companies that violate intellectual property rights. The Capital Market Law is expected to stimulate and expand Saudi Arabia's nascent stock exchange. The law will provide a legal and regulatory framework for capital-related activity and increase transparency and accountability in the market.
Saudi Arabia has been a member the World Trade Organization since December 2005. Membership in the WTO brought a wide range of benefits to Saudi Arabia, helping it move towards a more transparent, rules-based trade regime.