Russia last major nation to gain WTO acceptance
Source: Agencies |
December 17, 2011, Saturday
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The World Trade Organization accepted Russia as a member yesterday, ushering in the last major economy after more than 18 years of negotiations.
Russian lawmakers have six months to ratify the obligations that come with membership.
With global trade talks at an impasse, the highlights of the WTO's biennial ministerial meeting that began yesterday are the accessions of Russia, Samoa and Montenegro and a landmark accord that opens up government-procurement contracts worth as much as US$100 billion to more foreign competition.
"Today is an historic day," Stefan Johansson, chairman of the Russia working group, told ministers in Geneva.
The WTO will formally welcome Samoa and Montenegro to the fold tomorrow and is preparing for the membership of Vanuatu, which won approval to join in October and is set to ratify its terms by December 31.
"It is a matter to celebrate as we see the simultaneous accession of Vanuatu and Samoa," two of the world's poorest countries, Patricia Francis, executive director of the International Trade Center, said at the opening session of the conference yesterday.
Hours earlier, the WTO approved an amended government-procurement agreement that covers 42 of the trade arbiter's 153 members.
The WTO's three-day meeting has few bright spots, with leaders saying the only way forward on global trade is a change in how negotiations are conducted.
WTO Director-General Pascal Lamy urged major governments to show leadership, muster the political courage to act together to open trade and to make poor countries' needs their top priority "I don't think we can any longer bury our head in the sand," Lamy said. "We need to understand the root causes" of the deadlock."
"How do we move forward? This should be done step by step, gradually moving forward parts that have been agreed and finding solutions ...where differences remain," he said.
US Trade Representative Ron Kirk said the current impasse "comes down to one single vexing quandary: The WTO has not come to terms over core questions of shared responsibilities among its biggest and most successful members."
The WTO's inability to craft a global trade accord isn't necessarily a bad thing, said Kevin Gallagher, an associate professor of international relations at Boston University. The delay gives the WTO time to "adjust to new 21st-century realities, such as the rise of the BRICs and crises in food, climate change and finance," he said.
Russian lawmakers have six months to ratify the obligations that come with membership.
With global trade talks at an impasse, the highlights of the WTO's biennial ministerial meeting that began yesterday are the accessions of Russia, Samoa and Montenegro and a landmark accord that opens up government-procurement contracts worth as much as US$100 billion to more foreign competition.
"Today is an historic day," Stefan Johansson, chairman of the Russia working group, told ministers in Geneva.
The WTO will formally welcome Samoa and Montenegro to the fold tomorrow and is preparing for the membership of Vanuatu, which won approval to join in October and is set to ratify its terms by December 31.
"It is a matter to celebrate as we see the simultaneous accession of Vanuatu and Samoa," two of the world's poorest countries, Patricia Francis, executive director of the International Trade Center, said at the opening session of the conference yesterday.
Hours earlier, the WTO approved an amended government-procurement agreement that covers 42 of the trade arbiter's 153 members.
The WTO's three-day meeting has few bright spots, with leaders saying the only way forward on global trade is a change in how negotiations are conducted.
WTO Director-General Pascal Lamy urged major governments to show leadership, muster the political courage to act together to open trade and to make poor countries' needs their top priority "I don't think we can any longer bury our head in the sand," Lamy said. "We need to understand the root causes" of the deadlock."
"How do we move forward? This should be done step by step, gradually moving forward parts that have been agreed and finding solutions ...where differences remain," he said.
US Trade Representative Ron Kirk said the current impasse "comes down to one single vexing quandary: The WTO has not come to terms over core questions of shared responsibilities among its biggest and most successful members."
The WTO's inability to craft a global trade accord isn't necessarily a bad thing, said Kevin Gallagher, an associate professor of international relations at Boston University. The delay gives the WTO time to "adjust to new 21st-century realities, such as the rise of the BRICs and crises in food, climate change and finance," he said.
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