Roundup: New accessions reaffirm WTO's appeal, role

The World Trade Organization's (WTO) appeal to the international community, especially to the least developed countries(LDCs), surged to new levels this week with the admission of Afghanistan and Liberia to the Geneva-based global trade body.

High-ranking officials, trade experts and analysts attending the ongoing 10th WTO ministerial conference in Nairobi hailed the re-integration of the two post conflict states into the multilateral trade regime.

Ellen Johnson Sirleaf, the Liberian President and her Kenyan host, Uhuru Kenyatta witnessed the West African nation's formal admission to WTO.

The two leaders agreed Liberia's formal entry into the multilateral trade regime will accelerate the West African nation's reconstruction after decades of civil strife and devastations caused by the Ebola epidemic last year.

"Liberia's accession to WTO marks another turning point in our country's history as we accelerate economic transformation," said Sirleaf, adding that her country supports the multilateral trading system and will play an active role in WTO.

The accessions of Afghanistan and Liberia would bring the number of least developed countries (LDCs) in WTO to 36, and the list is growing with realization it heralds brighter prospects for them in terms of increased trade, investments and technology transfer.

This also reaffirms the global trade body's universal appeal despite criticism from some quarters who allege it is an elitist club that advances the interests of rich nations.

Heads of delegations and trade experts attending the Nairobi meeting were emphatic developing countries' interests would be served better if they remained members of the trade body.

"Developing countries will benefit immensely from a rule-based multilateral trade system advanced by WTO," remarked Amina Mohamed, Kenyan Foreign Minister and Chairperson of the 10th WTO ministerial conference.

She added that membership to WTO will enable least developed countries accelerate domestic reforms to attract foreign direct investments.

The least developed countries comprise one fifth of the entire membership to WTO, hence their strategic position to negotiate for better trade deals.

So far, there are 19 countries that are negotiating for membership to the global trade body while six of them are LDCs.

Roberto Azevedo, WTO Director General on Thursday revealed that Somalia had formally submitted its application for membership to the trade body.

As the World Trade Organization celebrates its 20th birthday this year, developing countries are more optimistic on its ability to deliver its core mandate of promoting free trade.

Delegations from least developed countries agreed sweeping reforms on the internal structures of WTO were an imperative to enable it discharge its mandate effectively.

The Chairman of LDCs group and current minister of commerce in the republic of Bangladesh, Tofael Ahmed, said that reforms in the WTO were urgent to fast-track conclusion of trade deals on agricultural products, manufactured goods and intellectual property.

"The LDCs have faith in the ability of WTO to deliver meaningful outcomes to the ongoing negotiations to establish a fair and equitable multilateral trade regime," Ahmed remarked

Developing countries' major concerns at the meeting revolved around agricultural subsidies, market access, intellectual property and trade in services.

Ahmed said the LDCs will continue to press their developed counterparts to drop agricultural subsidies that hurt poor farmers.

"Subsidies have created unfair competition in the global market for agricultural commodities. They should be dropped to protect the sovereignty of our farmers," said Ahmed

He urged developed nations to eliminate protectionism that hinder market access for agricultural produce originating from the poor south.

The least developed countries support WTO instruments that advance a level playing field in the global market for goods and services. Experts stressed that speedy implementation of key WTO instruments is key to fully integrate LDCs into the global value chain.

Chiedu Osakwe, Director of WTO Accession Division, said LDCs have made a huge contribution to help advance reform in the multilateral trade regime.

"The LDCs are an important bloc whose contribution will be critical to help iron out contentious issues revolving around free trade," Osakwe said. Endit