Ethiopia to Join World Trade Organization in 2018
August 31, 2017 - Ethiopia is scheduled to join the World Trade Organization (WTO) in November next year after Ethiopia agreed to open up its economy. Ethiopia has accepted to liberalize its economy in phases according to the agreement.
Comoros’ membership is expected to be ratified during the WTO ministerial conference taking place in November this year. Kenya stands to be the biggest beneficiary if Ethiopia and Sudan are accepted to join the World Trade Organization next year.
For a long time now, Kenya, East Africa’s most advanced economy has been trying without much success to enter Ethiopia’s economy which has a gross domestic product of more than 80 billion dollars.
Trade between Kenya and Ethiopia is expected to be worth about 45 billion shillings tilted in the favor of Kenya. Kenya’s representative to the World Trade Organization, Ambassador Stephen Karau, says Kenyan companies will be allowed easier access to Ethiopia, boosting trade between the two nations.
For close to 20 years now, Ethiopia has been working in order to meet the strict requirements set by the world trade organization.
Speaking during the end of a regional dialogue for the accession to WTO Ambassador Karau says war torn South Sudan will have to wait for a whole year since it is yet to develop the required capacity to be admitted to the 163 member country WTO club.
The Indian Ocean island of Comoros is expected to become the latest African country to join WTO, with the accession date set for November this year in Argentina.
So far 11 African countries have applied to join the global trade body, with four of them expected to be admitted in the next one year.
Source:- The Star