164th member of WTO: Afghanistan [ Current Affairs ]
The World Trade Organization (WTO) has globally permitted Afghanistan to become 164th member after 11 years of negotiations. At its ongoing 10th ministerial conference in the Nairobi, Kenya WTO has formally approved Afghanistan’s membership proposal.
- WTO Director General Roberto Azevedo and Afghanistan’s First Deputy Chief Executive Mohammad Khan Rahmani has signed Protocol of Accession (PoA) regarding to this.
- After PoA is ratified by Afghanistan Parliament till June 2016 the final accession to become a full member will come in to effect.
- With this It become the 36th least developed country (LDC) to join the global trade body.
Advantages for Afghanistan to join WTO:
- By joining WTO, for its post-conflict reconstruction Afghanistan hopes to reap the benefits of the WTO membership as landlocked war-shattered.
- It will create new economic opportunities in world’s lowliest economy and create jobs especially for women and in turn help to reduce poverty with the help of Trade-led growth.
- To reduce extremism and achieve regional peace and security Post-conflict reconstruction will certainly contribute in a major way.
- Published on: December 21, 2015