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Article: WTO challenges Arab world: all Arab countries except Saudi Arabia have now signed an agreement with the World Trade Organisation, in the hope that membership will offer economic rewards. But many are facing difficult adjustments. (Business & Finance)(Cover Story).(World Trade Organization)(Cover Story)
- Article from:
- The Middle East
- Article date:
- November 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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From Morocco to Oman, governments are beginning to realise the challenges as well as benefits of membership in the World Trade Organisation. The reasons for joining were obvious: membership in the WTO provides developing countries easier access to markets and investment capital. But membership also mandates reduction of trade and investment barriers, which has threatened weaker Arab economies, where protected economies have helped maintain economic and social stability.
WTO-style globalisation confers a number of strategic benefits on nations that are open and integrated into the world economy. "Those countries that are becoming more integrated with the world ...