Seychelles became 161st Member of WTO [ Current Affairs ]
Seychelles became the 161st member of the World Trade Organization (WTO) which headquarters in Geneva. Seychelles archipelago of 90000 inhabitants became one of its smallest members. WTO (World Trade Organization) was established on 1 January 1995.Besides, Seychelles is also the 33rd government to accede to the rules-based multilateral trading system through Article XII negotiations.
- Pierre Laporte, former Minister of Trade, Finance and Investment of Seychelles and WTO Director General Roberto Azevedo were signed the Protocol of Accession.
- On 31 May 1995, Seychelles had applied for WTO membership and its accession was approved by the WTO members on 10 December 2014.
- This approval by WTO ended the 20-year long wait of the country for becoming a member of WTO, as the country was negotiating its accession terms since 31 May 1995.
- Earlier, WTO had 160 counties of member. In 2001, china had jointed as the member of WTO in Doha summit and WTO allowed 28 Agreement which related to the trade.
- Published on: May 1, 2015