Afghanistan formally gained accession to World Trade Organization (WTO) during the Ministerial Conference of WTO on Thursday.
The terms of accession by Afghanistan to World Trade Organization was formally adopted during the 10th Ministerial of WTO organized in Nairabi, the capital city of Kenya.
Afghanistan will become the 164th Member of the World Trade Organization once it ratifies today’s decision by the Ministerial Conference of WTO until 30 June 2016.
The World Trade Organization is a global trading organization that accounts for about 95 percent of the commerce of the world and the membership of WTO is expected to provide a number of rights for the country including the critical right to transit besides opening lucrative markets.
Congratulating Afghanistan on gaining accession to WTO, the US Ambassador to Afghanistan, P. Michael McKinley said “As we acknowledge the importance of this development, we want to congratulate Afghanistan in becoming a member of the WTO.”
“The government of Afghanistan has not only met most of the requirements for membership but has undertaken reforms that will benefit Afghan consumers and businesses. By joining the WTO, Afghanistan also becomes more attractive to investors and facilitates the growth of trade and economic ties with the region. Afghanistan’s people and businesses will benefit from greater job opportunities, administrative transparency, and confidence in the future,” Ambassador McKinley added.
Source: The Khaama