Editing Economy of Saudi Arabia (section)

== Trade ==
[[File:2006SaudiArabian exports.PNG|thumb|upright=1.5|Saudi Arabian exports in 2006]]

In April 2000, the government established the [[Saudi Arabian General Investment Authority]] to encourage foreign direct investment in Saudi Arabia. Saudi Arabia maintains a negative list of sectors in which foreign investment is prohibited, but the government planned to open some closed sectors such as telecommunications, insurance, and power transmission/distribution over time.<ref>{{Cite web |title=Foreign Investment Act and Executive Rules {{!}} The Embassy of The Kingdom of Saudi Arabia |url=https://www.saudiembassy.net/foreign-investment-act-and-executive-rules |access-date=2022-06-23 |website=www.Saudiembassy.net |archive-date=16 June 2022 |archive-url=https://web.archive.org/web/20220616002103/https://saudiembassy.net/foreign-investment-act-and-executive-rules |url-status=live }}</ref>

Saudi Arabia became a full World Trade Organization (WTO) member on 11 December 2005.<ref name="Saudi WTO">{{cite web|url=https://www.wto.org/english/thewto_e/countries_e/saudi_arabia_e.htm|title=Kingdom of Saudi Arabia – Member information|publisher=[[World Trade Organization]]|access-date=20 April 2021|archive-date=21 April 2021|archive-url=https://web.archive.org/web/20210421092349/https://www.wto.org/english/thewto_e/countries_e/saudi_arabia_e.htm|url-status=live}}</ref> In 2019, the government established the [[General Authority for Foreign Trade (Saudi Arabia)|General Authority for Foreign Trade]] to enhance the kingdom's international commercial and investment activities.<ref>{{Cite web|url=http://live.saudigazette.com.sa/article/561914/SAUDI-ARABIA/New-head-of-foreign-trade-thanks-King-for-his-trust|title=New head of foreign trade thanks King for his trust|date=24 March 2019|website=Saudigazette|language=en|access-date=9 July 2019|archive-date=9 July 2019|archive-url=https://web.archive.org/web/20190709174427/http://live.saudigazette.com.sa/article/561914/SAUDI-ARABIA/New-head-of-foreign-trade-thanks-King-for-his-trust|url-status=live}}</ref>

In early July 2020, Saudi Arabia announced the nomination of its former Minister of Economy and Saudi royal court adviser, [[Mohammad Al-Tuwaijri]], for the role of WTO's director-general.<ref>{{cite news|url=https://www.reuters.com/article/us-trade-wto-saudi-idUSKBN2492H2|title=Saudi Arabia nominates a candidate to head WTO: document|access-date=8 July 2020|website=Reuters|date=8 July 2020|archive-date=9 July 2020|archive-url=https://web.archive.org/web/20200709063523/https://www.reuters.com/article/us-trade-wto-saudi-idUSKBN2492H2|url-status=live}}</ref> The nominations were made public about a month after the WTO reported the kingdom for copyrights infringement following distribution of pirated sports broadcasting content on the state-owned broadcast service, [[BeoutQ]].<ref>{{cite web|url=https://www.wto.org/english/tratop_e/dispu_e/567r_e.pdf|title=Saudi Arabia – Measures Concerning the Protection of Intellectual Property Rights|access-date=16 June 2020|website=World Trade Organization|archive-date=17 June 2020|archive-url=https://web.archive.org/web/20200617063437/https://www.wto.org/english/tratop_e/dispu_e/567r_e.pdf|url-status=live}}</ref> The nomination of al-Tuwaijri received criticism from human rights groups in mid-August 2020, demanding the rejection of the Saudi nominee due to the kingdom's [[human rights in Saudi Arabia|violation of human rights]] in addition to his silence over it.<ref>{{cite web|url=https://www.adhrb.org/2020/08/wto-urged-to-reject-saudi-arabias-nominee-for-director-general/|title=WTO Urged To Reject Saudi Arabia's Nominee For Director General|access-date=17 August 2020|website=Americans for Democracy and Human Rights in Bahrain|date=17 August 2020|archive-date=26 September 2020|archive-url=https://web.archive.org/web/20200926142929/https://www.adhrb.org/2020/08/wto-urged-to-reject-saudi-arabias-nominee-for-director-general/|url-status=live}}</ref> On 7 October 2020, Al-Tuwaijri, along with other nominees from the UK and [[Kenya]], lost the bid for the role due to lack of support, as compared to the nominees from Nigeria and South Korea who qualified for the final round of selection.<ref>{{cite news|url=https://www.reuters.com/article/us-trade-wto/nigerian-south-korean-women-through-to-final-round-in-wto-chief-race-sources-idUSKBN26S2SH|title=Nigerian, South Korean make last round of WTO chief race – sources|access-date=7 October 2020|website=Reuters|date=7 October 2020|last1=Farge|first1=Emma|archive-date=9 October 2020|archive-url=https://web.archive.org/web/20201009091435/https://www.reuters.com/article/us-trade-wto/nigerian-south-korean-women-through-to-final-round-in-wto-chief-race-sources-idUSKBN26S2SH|url-status=live}}</ref>

Saudi Arabia is part of the following trade organizations:
* [[World Trade Organization]] (WTO)<ref name="Saudi WTO"/>
* [[International Monetary Fund]] (IMF)<ref name="kasinomics.com">{{cite web |url=http://www.kasinomics.com/articles/membership-of-key-economies-in-international-organisations/ |title=Membership of Key Economies in International Organisations |publisher=Kasinomics |access-date=28 September 2012 |url-status=dead |archive-url=https://web.archive.org/web/20130116170618/http://www.kasinomics.com/articles/membership-of-key-economies-in-international-organisations/ |archive-date=16 January 2013}}</ref>
* [[International Chamber of Commerce]] (ICC)<ref>{{cite web|url=http://www.iccwbo.org/id2620/index.html |archive-url=https://web.archive.org/web/20110221112857/http://www.iccwbo.org/id2620/index.html |archive-date=21 February 2011 |title=ICC – The world business organization |publisher=Iccwbo.org |date=21 February 2011 |access-date=28 September 2012}}</ref>
* [[International Organization for Standardization]] (ISO)<ref>{{cite web |url=http://www.iso.org/iso/about/iso_members.htm |title=Members |publisher=ISO |access-date=28 September 2012 |archive-date=3 May 2012 |archive-url=https://web.archive.org/web/20120503204538/http://www.iso.org/iso/about/iso_members.htm |url-status=live }}</ref>
* [[World Customs Organization]] (WCO)<ref>{{cite web |url=http://www.wcoomd.org/reports/default.aspx?lid=1&id=294 |archive-url=https://archive.today/20120918010012/http://www.wcoomd.org/reports/default.aspx?lid=1&id=294 |url-status=dead |archive-date=18 September 2012 |title=WCO – Reports |publisher=Wcoomd.org |date=3 May 2011 |access-date=28 September 2012 }}</ref>