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TREATIES AND OTHER INTERNATIONAL ACTS SERIES 03-731TRADE AND INVESTMENTAgreement Between theUNITED STATES OF AMERICAand SAUDI ARABIASigned at Washington July 31, 2003
NOTE BY THE DEPARTMENT OF STATEPursuant to Public Law 89—497, approved July 8, 1966(80 Stat. 271; 1 U.S.C. 113)—“. . .the Treaties and Other International Acts Series issuedunder the authority of the Secretary of State shall be competentevidence . . . of the treaties, international agreements other thantreaties, and proclamations by the President of such treaties andinternational agreements other than treaties, as the case may be,therein contained, in all the courts of law and equity and of maritimejurisdiction, and in all the tribunals and public offices of theUnited States, and of the several States, without any further proofor authentication thereof.”
SAUDI ARABIATrade and InvestmentAgreement signed at Washington July 31, 2003;Entered into force July 31, 2003.
AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED STA TES OFAMERICA AND THE GOVERNMENT OF THE KINGDOM OF SAUDI ARABIACONCERNING THE DEVELOPMENT OF TRADE AND INVESTMENT RELATIONSThe Government of the United States of America and the Government of the Kingdom of SaudiArabia (individually a "Party" and collectively the "Parties"):1)Desiring to enhance the historical bonds of friendship and spirit of cooperation between thetwo countries;2)Desiring to develop furtherinterrelationship;3)Recognizing the importance of fostering an open and predictable environment forinternational trade and investment and economic cooperation;4)Recognizing the benefits to each Party resulting from increased international trade andinvestment, and that trade-distorting investment measures and protectionism would deprivethe Parties of such benefits;5)Recognizing the essential role of private sector investment, both domestic and foreign, infurthering growth, creating jobs, expanding trade, enhancing economic development, andimproving technology;6)Recognizing that foreign direct investment confers positive benefits on each Party;7)Desiring to encourage and facilitate private sector contacts between the two countries;8)Recognizing the desirability ofresolving trade and investment problems as expeditiously aspossible;9)Acknowledging prior bilateral Agreements signed by the Parties, including the ProvisionalAgreement Between the United States of America and the Kingdom of Saudi Arabia inRegard to Diplomatic and Consular Representation, Juridical Protection, Commerce andNavigation, signed November 7, 1933 and the Joint Statement on Saudi Arabian-UnitedStates Cooperation signed June 8, 1974;10)Noting that this agreement is without prejudice to the rights and obligations of the Partiesunder the agreements cited in the precedent paragraph 9;11)Recognizing the increased importance of services in their economies and in their bilateralrelations;12)Taking into account the need to eliminate non-tariff barriers in order to facilitate greateraccess to the markets of both countries and the mutual benefits thereof;both countries'international tradeand economic
13)Recognizing the importance ofproviding adequate and effective protection and enforcementof intellectual property rights and the importance of adherence to international intellectualproperty rights standards;14)Recognizing the importance of protecting and enforcing worker rights in accordance witheach nation's own labor laws and of working toward the respect and promotion ofinternationally recognized core labor standards;15)Desiring to ensure that trade and environmental policies are mutually supportive infurtherance of sustainable development; and16)Considering that it would be in their mutual .interest to establish an additional bilateralmechanism between the Parties for encouraging the liberalization of trade and investmentbetween them.To this end, the Parties agree as follows :ARTICLE ONEThe Parties will seek to:1.Expand trade in goods and services between them , within the framework and terms of thisAgreement.2.Take appropriate measures to encourage and facilitate the exchange of goods and servicesand to secure favorable conditions for long-term development and diversification of tradebetween the two countries.3.Promote an attractive trade and investment climate between the two countries and facilitateexpanded contacts between their respective private sectors.ARTICLE TWOWithout prejudice to the work of the United States-Saudi Arabia Joint Commission on EconomicCooperation, the Parties shall establish a United States-Saudi Arabia Council on Trade andInvestment ("the Council"), which shall be composed ofrepresentatives of both Parties. The SaudiArabian side will be chaired by the Ministry of Commerce and Industry; and the U.S. side will bechaired by the Office of the U.S . Trade Representative ("USTR"). Both Parties may be assisted byofficials of other government entities as circumstances require. The Council will meet at least oncea year and at such times as agreed by the two Parties.ARTICLE THREEThe objectives of the Council are as follows:1.To monitor trade and investment relations, to identify opportunities for expanding trade and
investment, and to identify issues appropriate for negotiation.2.To hold consultations on specific trade and investment matters of interest to the Parties.3.To identify and work toward the removal of impediments to trade and investment flows.4.To facilitate expanded contacts between and seek the advice of the private sector in theirrespective countries on matters related to the work of the Council where the Parties deem itappropriate. Private sector representatives may be asked to participate in Council meetingswhenever both Parties agree it is appropriate.5.To promote an attractive trade and investment climate between the two countries as a meansof furthering growth, creatingjobs, expanding trade, enhancing economic development, andimproving technology.ARTICLE FOURFor the purpose of further developing bilateral trade and providing for a steady increase in theexchange of products and services and promoting an attractive investment climate in the twocountries, the Parties shall consider whether further agreements relating to trade, intellectualproperty, investment, vocational training, labor, environmental issues, and any other matters agreedupon by the Parties would be desirable.AR TI CLE FIVEI.Either Party may raise for consultation any trade or investment matter between the Parties.Requests for consultation shall be accompanied by a written explanation of the subject to bediscussed and consultations shall be held within 60 days ofthe request, unless the requestingParty agrees to a later date.2.Each party shall endeavor to provide for an opportunity for consultations before takingactions that could affect adversely the trade or investment interests of the other Party.ARTICLE SIXThis Agreement is without prejudice to the rights and obligations of either Party under its domesticlaw or under any other agreements, conventions, or other instruments to which either country is aparty. This Agreement may be amended through an exchange of notes between the Parties throughdiplomatic channels.ARTICLE SEVENThis Agreement shall enter into force on the date of its signature by both Parties.ARTICLE EIGHT
This Agreement shall remain in force unless terminated by mutual consent ofthe Parties or by eitherParty upon six months written notice to the other Party.IN WITNESS WHEREOF, the undersigned, being duly authorized by their respective governments,have signed this Agreement.DONE at Washington this 31 1 day of July 2003, in duplicate in the English and Arabic languages,both texts being equally authentic.FOR THE GOVERNMENT OF THEUNITED STATES OF AMERICA:FOR THE GOVERNMENT OF THEKINGDOM OF SAUDI ARABIA:MINISTER OF COMMERCEAND INDUSTRYHASHIM A. Y AMANI
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Cooperation, the Parties shall establish a United States-Saudi Arabia Council on Trade and Investment ("the Council"), which shall be composed ofrepresentatives ofboth Parties. The Saudi Arabian side will be chaired by the Ministry of Commerce and Industry; and the U.S. side will be chaired by the Office ofthe U.S .
