The objectives of the Convention:
To liberalize trade in services among the members of the Convention on a progressive basis, to promote the interests of the parties on the basis of mutual benefit, achieve a balance of rights and duties and take into account the situation of the least developed Arab States.
Entry into effect: October 14, 2019.
Benefits:
- Access to markets of non-WTO members of the Arab States.
- The commitment of member States to make commitments in non-liberalized service sectors under WTO commitments.
- KSA is excluded from making commitments beyond its commitments made during its accession to the WTO. KSA is one of the few countries that made commitments in most service sectors while joining WTO.
- Granting service suppliers national treatment except as stipulated in the schedules of obligations.