Comoros Officially Becomes The 165th Member Of The World Trade Organization

Comoros has officially become the 165th member of the World Trade Organization (WTO) as of 21 August, following 17 years of negotiations. This makes Comoros the 10th least-developed country to join the WTO through such discussions. The nation also confirmed its acceptance of the WTO Agreement on Fisheries Subsidies.

The Agreement on Fisheries Subsidies, adopted at the WTO's 12th Ministerial Conference in Geneva from 12-17 June 2022, introduces new binding rules to reduce harmful subsidies. These subsidies contribute significantly to the depletion of global fish stocks. Comoros's acceptance of this agreement brings the total number of acceptances to 82.

The formal process for Comoros's WTO membership began when Ambassador Sultan Chouzour submitted the instrument of acceptance to WTO Director-General Ngozi Okonjo-Iweala. This event took place during a General Council meeting, initiating a 30-day countdown to full membership.

Director-General Ngozi Okonjo-Iweala expressed her pride in welcoming Comoros to the WTO. She stated, "I am particularly proud to welcome Comoros as the newest member of the WTO. Comoros can use WTO accession as a vehicle for modernization, economic transformation and a complement to the country's regional integration agenda on the African continent."

Comoros's membership is expected to enhance its voice within the multilateral trading system. The country has shown a strong commitment to adhering to WTO values and principles, demonstrating its readiness to integrate into global trade norms.

Approval and Future Negotiations

The official approval for Comoros's accession was granted during a special ceremony at the 13th WTO Ministerial Conference held in Abu Dhabi on 26 February. Currently, twenty-two governments are still in negotiations regarding their potential accession to the WTO, including eight from Africa.

Comoros’s entry into the WTO marks a significant milestone in its economic development journey. The nation aims to leverage this membership for broader economic reforms and regional integration within Africa.

This strategic move is anticipated to bring about positive changes in Comoros’s trade policies and practices, aligning them with international standards and fostering economic growth.

By joining the WTO, Comoros is poised to benefit from increased trade opportunities and support for sustainable development initiatives. The nation's commitment reflects its dedication to participating actively in global trade discussions and adhering to established international trade regulations.

The inclusion of Comoros adds another valuable perspective within the multilateral trading system, contributing towards more inclusive global trade governance.

This development underscores Comoros’s efforts towards economic transformation and integration into broader regional frameworks, enhancing its role on both continental and global stages.

With inputs from WAM