Nov 12, 2015| By: Srinivas Mazumdaru | After nearly 11 years of negotiations, Afghanistan and the World Trade Organization (WTO) have finally agreed on the country’s terms of accession to the global trade body. But will this help revive the flailing economy?
“Our country’s accession to the WTO will serve as a catalyst for domestic reforms and transformation to an effective and functioning market economy that attracts investment, creates jobs and improves the welfare of the people of Afghanistan,” said Afghan President Ashraf Ghani following the agreement reached between his government and the trade body’s 161 members on November 11.
Trade ministers are set to formally approve the terms of the country’s membership to the global trade club in a meeting in Nairobi on December 15-18. Afghanistan will become a member 30 days after it ratifies the deal, which it will need to do by June 30, 2016.
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