Saudi Arabia has agreed to end all economic boycotts of Israel, allowing the World Trade Organization (WTO) Friday to admit the kingdom as its 149th member, diplomats said.

According to the Wshington Times, American and Israeli officials confirmed the boycott issue had been resolved. "I am very satisfied with the fact that Saudi Arabia has complied with all the rules of the WTO," said Itzhak Levanon, Israel's envoy to the WTO. "I hope it opens the door to a better future on the horizon in the region," the Israeli envoy added.

The WTO's ruling general council, which includes the United States and Israel, endorsed the Saudi entry during a special session Friday.

To join, the oil rich kingdom agreed to cancel all economic boycotts and it pledged not to resort to any future discriminatory trade measures against the Israel, diplomats said.

© 2005 Mena Report (www.menareport.com)