Saudis Lift The Boycott

As per a condition to receive World Trade Organization membership, Saudi Arabia will no longer abide by the Arab League's economic boycott of Israel. Is this evidence that the Saudis finally came to the conclusion that Israel isn't going away? I doubt it, but it shows more and more acceptance of Israel in the Arab world. Israel has trade relations with a few Arab countries, but if it were to begin trade with Saudi Arabia, the holiest Muslim country, that would signify a major improvement in Israel's standing in that part of the world. While this move should have happened decades ago, better late than never I guess.