What were the exceptions in the WTO Agreement?
The accession of Saudi Arabia to WTO meant the creation of a stronger economic and political relation between the two parties. Through the accession, Saudi Arabia was able to realize its objectives in the face of a growing market. These included maintaining its top performance in the industry as well as achieving consistent profitability. The strategic and operational exceptions of the WTO agreement included: a) The maximization of Saudi Arabia’s combined scale and operational dominance will be their sole undertaking; b) The transformation of innovative products from the traditional ones will be limited; c) Improving the country’s efficiency and cutting costs in operations will not be shouldered by WTO; and d) The continuous growth through selective acquisitions will be permitted for as long as they are able to create shareholder value.
