Afghanistan becomes 164th member of WTO

Afghanistan has become 164th member nation of the World Trade Organisation (WTO), global trade body after 11 years of negotiations.
WTO has formally approved Afghanistan’s membership proposal at its ongoing 10th ministerial conference in the Nairobi, Kenya.
In this regard, Protocol of Accession (PoA) was signed by WTO Director General Roberto Azevedo and Afghanistan’s First Deputy Chief Executive Mohammad Khan Rahmani.
The final accession to become a full member will come in to effect after PoA is ratified by Afghanistan Parliament till June 2016. It will be the 36th least developed country (LDC) to join the global trade body.
Advantages for Afghanistan

• By joining WTO, landlocked war-shattered Afghanistan hopes to reap the benefits of the WTO membership for its post-conflict reconstruction.
• Trade-led growth will help to create new economic opportunities in world’s poorest economy and create jobs especially for women and in turn help to reduce poverty.
• Post-conflict reconstruction will certainly contribute in a major way to reduce extremism and achieve regional peace and security.

Special Note: During the 10th ministerial conference in the Nairobi, Kenya two new members were added viz. Liberia (163rd) and Afghanistan (164th).

Month: Current Affairs - December, 2015