Comoros and Timor-Leste submit WTO accession instruments, accept Fisheries Subsidies Agreement
WTO members officially approved the WTO accessions of both least-developed countries (LDCs) during a special ceremony at the 13th Ministerial Conference (MC13) in Abu Dhabi on 26 February.
“This moment marks a significant milestone in our nation history as we submit the instruments of acceptance of the Protocol of Accession and the WTO Fisheries Subsidies Agreement. This step symbolizes our commitment to the principle of free and fair trade, sustainable development and our dedication to the global trading system,” said Deputy Prime Minister Francisco Kalbuadi Lay of Timor-Leste.
“Our journey to becoming a full member of the WTO has been a testament to our resolve and collective effort. The submission of these documents is not merely a procedural formality, but a declaration of our readiness to embrace the responsibility and opportunity that come with WTO membership,” he added.
Ambassador Sultan Chouzour of Comoros said: “The Union of the Comoros has just taken a major step towards greater integration into the world trade and economic system, thanks in particular to the effective modernization of its public finance management system in accordance with WTO standards.” Ambassador Chouzour underlined the importance of implementing the Post-Accession Strategic Plan.
“I would particularly like to stress Comoros's needs in terms of capacity building and international expertise to help them reap all the benefits expected from their accession to the WTO,” he said.
“We are happy and proud that the WTO family is set to grow for the first time in eight years,” said DG Okonjo-Iweala.
“Today's handovers demonstrate just how seriously and responsibly both LDCs take their WTO obligations, especially in implementing the commitments which they undertook during their accessions. One such commitment was to accept the Fisheries Subsidies Protocol along with the Accession Protocol. The observance of this commitment has ensured that the threshold for entry into force of Fish I (the Agreement on Fisheries Subsidies adopted in June 2022 at the 12th WTO Ministerial Conference in Geneva) would not be delayed by the increase in the WTO membership,” she added.
DG Okonjo-Iweala noted that accession is just the beginning. “The benefits of WTO membership are not automatic, and new members will need a support network to continue domestic reforms and to operate effectively in the global economy.” She requested WTO members and partners “to provide necessary assistance to both of these LDCs in the post-accession phase with the same generosity as they did during accession.”
Comoros will become the 165th WTO member on 21 August, following today's deposit of the Protocol of Accession.
For Timor-Leste, the formal deposit of the Protocol of Accession will be dated 31 July, meaning that the country will become the 166th WTO member on 30 August. This date coincides with Popular Consultation Day in Timor-Leste, commemorating the 1999 referendum paving the way for the country's independence.
Under WTO rules, membership of an accession candidate takes effect 30 days after its instrument of acceptance is deposited at the WTO.
Comoros applied for WTO membership on 22 February and the Working Party was established in October 2007. Members of the Working Party concluded the negotiations on 9 January 2024. Following approval by WTO members at MC13, Comoros's National Assembly ratified the Protocol of Accession on 10 June.
Timor-Leste applied for WTO membership on 7 April 2015, with a Working Party established on 7 December 2016. Members of the Working Party concluded the negotiations on 11 January 2024. Following approval by WTO members at MC13, Timor-Leste's National Parliament ratified the Protocol of Accession on 3 June.
Fisheries Subsidies
With the acceptances of the Fisheries Subsidies Agreement by Comoros and Timor-Leste, 29 more formal acceptances are now needed for the Agreement on Fisheries Subsidies to come into effect. The Agreement will enter into force upon acceptance by two-thirds of the membership.
Adopted by consensus at MC12, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world's fish stocks. In addition, the Agreement recognizes the needs of developing economies and LDCs and establishes a fund to provide technical assistance and capacity building to help them implement the obligations.
The Agreement prohibits support for illegal, unreported and unregulated fishing, bans support for fishing overfished stocks and ends subsidies for fishing on the unregulated high seas.
The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here.
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