After 17 years of negotiations with World Trade Organization members, Comoros has joined the body.
Members officially approved the WTO accession of Comoros last February, but the country became a full member on Tuesday.
The WTO Director-General Ngozi Okonjo-Iweala believes the move can be “a vehicle for modernization, economic transformation and a complement to the Comoro’s regional integration agenda on the African continent,”
Before this becomes a reality, Moroni will have to adjust to its new status and keep its commitments.
Indeed, since each accession Working Party takes decisions by consensus, all interested WTO Members must be in agreement that their individual concerns have been met and that outstanding issues have been resolved in the course of their bilateral and multilateral negotiations.
The WTO’s 165th member will for example have to “bind agricultural export subsidies at zero.”
The agricultural sector remains the backbone of the economy, with subsistence farming accounting for the largest share.
According to the EU GSP, the Comoros’ most important trading partners are the 27-nation bloc and the United Arab Emirates.
Twenty-two governments, including eight African countries, are still negotiating their WTO accession.
The WTO operates the global system of trade rules.
Source: Africanews
