pleas this is my second time posting this q ,if its hard for you just write ( 10

Question

pleas this is my second time posting this q ,if its hard for you just write (1000 word pleas) in generall

this link might help you:

https://docs.wto.org/dol2fe/Pages/FE_Search/FE_S_S006.aspx?Query=(%20(@Symbol=%20(wt/acc/sau/*%20or%20%20wt/acc/spec/sau/*))%20or%20(@Title=%20(working%20party%20on%20the%20accession%20of%20saudi%20arabia))%20%20or%20(@Title=%20(protocol%20of%20accession%20of%20the%20kingdom%20of%20saudi%20arabia)))&Language=ENGLISH&Context=FomerScriptedSearch&languageUIChanged=true#

B. Identify the impact of WTO’s role on any ONE of the industry [Petrochemical Industry or Telecommunications Industry or Financial Sectors] for the development of Industrial sector and economic growth of Saudi Arabia. [1000-1200] 4 Marks.

Explanation / Answer

It helped in smoothening the trade between countries. Saudi Arabia s ninety per cent of the export income comes from petroleum companies.WTO helped in resolving all export, legal related issues at ease. Saudi Arabia has one fifth of the oil reserves, it helped in exported oil to countries which are oil deficient and helped them to bring changes in economic and social development. As the employees of these oil companies are non-Saudi s, the laws and regulation helped in employing people from different nationality and that helped companies to employ skilled employees from across globe.

World trade organisation helped in the development of companies, it encouraged FDI. Now Saudi Arabian economy is open to foreign direct investment in the sectors of finance, telecommunications, and power distribution, insurance etc. Through this employment is created and economy has grown with riser corruption and higher standard of living. With the rising oil prices, the economy has benefited. Fdi encouraged globalisation and fdi is encouraged in insurance, finance and power etc. From 2005, Saudi Arabia is a member of WTO and it is supporting causes to lift poor countries from poverty through trade.

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