Entry into force of the agreement on the liberalization of trade in services between Arab countries on 14 October

عبدالرحمن الحربي Free Membership

Mecca – Mecca

The liberalization of trade in services between Arab countries will enter into force after 42 days (October 14, 2019), after the completion of the ratification documents by three Arab countries: Saudi Arabia as the first country ratified by Egypt and Jordan, according to the General Assembly announced yesterday Foreign Trade.

Article 32 of the Agreement stipulates that "this agreement shall enter into force three months after the date of deposit of its instruments of ratification by at least three Arab countries". The agreement provided for the participation of ten Arab countries and should be ratified and deposited by the rest of these countries.

The Governor of the General Authority of Foreign Trade, Abdulrahman Al-Harbi, explained that the agreement aimed at liberalizing trade in services between Arab countries along three axes. The second axis is to promote the common interests of the Arab countries in the field of services on the basis of mutual benefit and the balance between rights and obligations, the third axis being focused on taking into account the conditions of development of each of the countries. States parties to the Convention. The situation of the least developed Arab countries.

The Arab countries are convinced that it is important to liberalize trade in services alongside the liberalization of trade in goods to achieve the objectives of the Great Arab Free Trade Area and in accordance with their commitments in the framework of 39, World Trade Organization.

Better access

The Agreement on Liberalization of Trade in Services between the Arab States offers Kingdom Service Providers better access to liberalized service sector markets under this Agreement, which exceed the limits of the commitments of the United Arab Emirates. WTO for the Arab Republic of Egypt. Percentage of liberalization in the following sectors: professional services (legal, architectural, engineering and related technical services, medical services), computer and related services, courier services, air transport services and Construction Services, Capital Markets Services Sector, Insurance Services Sector.

An exception of obligations

The governor of the General Authority of Foreign Trade said that the Kingdom had been exempted from engaging more commitments than within the framework of the World Trade Organization, after participating in a A series of negotiations with Arab countries that began in the first quarter of 2004, the Kingdom being one of the few countries it has made commitments in most service sectors during its accession process. 39; WTO.

The General Authority for Foreign Trade is due to hold a workshop for the private sector in September to introduce Kingdom service providers to the service sectors of member countries to maximize the benefits that the Kingdom will derive from its accession to this agreement .

Agreement on liberalization of trade in services between Arab countries

Entry into force October 14, 2019

Ratified by 3 Arab countries

• Saudi Arabia November 1
• 2018 Egypt March 25
• Jordan July 14

Goal

Liberalize trade in services between Arab countries along three axes:

1. Develop a framework for the gradual liberalization of trade in services between Arab countries and create an enabling environment to facilitate trade in services among themselves

2. Promotion of the common interests of the Arab countries in the field of services on the basis of mutual benefit and the balance between rights and obligations

3. Taking into account the conditions of development of each of the States Parties to the Convention, in particular the situation of the least developed Arab States.

What will Saudi Arabia benefit from?

• Provides Kingdom Service Providers with Better Access to Liberalized Service Sector Markets
• Exempt the Kingdom from making commitments that go beyond its commitments under the World Trade Organization