Rédaction Africa Links 24 with Comores Infos
Published on 2024-02-26 07:21:57
As the Comoros prepares to join the World Trade Organization (WTO), this decision raises questions about its implications for a country that exports little and imports the majority of its goods. What are the potential disadvantages of such membership, and how could they affect the economy and local industries of the Comoros?
Leading a significant delegation including three ministers, administrative officials, and private sector actors, the President of the Republic of the Comoros, Azali Assoumani, began a visit to Abu Dhabi, United Arab Emirates, on Sunday, February 25. This visit is of particular importance as Abu Dhabi is hosting the 13th regular ministerial conference of the WTO from February 26 to 29, 2024.
The event provides an opportunity for WTO member countries to officially integrate the Comoros into the organization. The signing of the accession agreement, usually done by the head of state of the new member, will symbolize this integration.
Alongside President Assoumani, the ministers of Agriculture, Economy, and Posts and Telecommunications, as well as the special advisor to the head of state, will play a crucial role in formalizing this agreement. Representatives from the private sector, including the president of the Union of Chambers of Commerce, will also be present at this historic ceremony.
The process of the Comoros’ accession to the WTO, initiated in 2007 and formalized in 2013 with the submission of the accession memorandum, has required significant reforms, particularly in the development of trade policies and harmonization of national regulations with WTO standards. However, despite the potential benefits offered by the WTO to developing countries, it is crucial to closely examine the challenges that this membership could pose, especially for an economy that relies heavily on imports and could face increased competition in the domestic market.
ANTUF Chaharane
Read the original article(French) on Comores Infos
