Yemen joining WTO-assessment [Archives:2005/832/Business & Economy]

April 11 2005

The negotiating team of the WTO assigned with the file of Yemen's accession to the World Trade Organisation (WTO) has assessed the Yemeni republic's capabilities for joining the organisation through taking into consideration the stages and measures it has taken during the past period in order to approach gaining membership of the organisation.

The WTO team that has visited Sana'a last week has affirmed the importance of involving all sectors concerned with the accession process, including the private sector and the legislative establishment in order to facilitate the process.

The negotiating team, during its meeting with Yemeni officials, has also admitted importance of holding consultative meeting to discuss developments regarding Yemen's joining of the organisation with the aim of benefiting from advantages the WTO provides for countries gaining the membership.

Though there are some fears expressed by the Yemeni private sector regarding Yemen' joining of the organisation, the government desires taking advantage from the organisation tendency to establishment of a free market with multi parties or bilaterally in a manner helping it attract external funds for investment in Yemen.

The ministry of industry and trade in Yemen, in corporation with the WTO, had organized a meeting on the process of preparation and negotiation for joining the organisation and there the concerned parties had discussed the practical steps for accession. Participants in the meeting have affirmed that future of Yemen requires more development and growth in various investment fields and transfer of technology as well as diversity in national production.

Yemen is considered among the least developed countries seeking for joining the WTO to benefit from it in activating the existing stagnancy in performance of its economy and activation of its national exports.