Free Trade Agreements

Saudi Arabia is a member of the Gulf Cooperation Council (GCC), which consists of Kuwait, Qatar, Bahrain, the UAE, Oman, and Saudi Arabia.  Membership confers special trade and investment privileges within those countries.  The GCC implemented a Customs Union on January 1, 2003 that stipulates free movement of local goods within member states.  Leaders of the GCC have approved to allow Yemen gradual entry into their Council.  Saudi Arabia is also a member of the Arab League which implies that Saudi Arabia is a  member in the Pan Arab Free Trade Area.

Kingdom of Saudi Arabia is a member in many world trade and economic organizations, such as:

  • World Bank (WB)

  • International Monetary fund (IMF)

  • Arab Monetary Fund (AMF)

  • Inter-Arab Investment Guarantee Corporation

  • Inter-Arab Free Trade Zone.

  • Standing Committee for Economic and Commercial Cooperation.

  • Islamic Development Bank (IDB)

Since December 2005, Saudi Arabia became a member of the World Trade Organization (WTO)

Saudi Arabia and the WTO