GENEVA, 28 march 2023 – Ambassador of the Permanent Mission of the Democratic Republic of Timor-Leste to the United Nations Office and other International Organizations in Geneva, Maria de Lourdes Martins de Sousa Bessa, and Ambassador of the Permanent Mission of the European Union to the World Trade Organization (WTO), João Aguiar Machado, on monday (03/27) signed a Memorandum of Understanding on Bilateral Negotiations between Timor-Leste and European Union on the accession of Timor-Leste to the WTO.
The deal signed between the two parties marked the conclusion of the bilateral market access negotiations on services and goods as part of Timor-Leste’s accession process to the WTO.
As stated by the EU representative, by concluding the bilateral negotiations, Timor-Leste can have access to lower tariffs for goods and for opening up services markets once it joins the WTO.
Accession to the WTO is a strategic priority for Timor-Leste and the country is committed to maintaining the momentum of negotiation to reach the goal of accession to the World Trade Organization in 2023 for the adoption of the accession package by MC13 in Abu Dhabi.
The conclusion of Timor-Leste’s accession to the WTO is critical, as it would complement the existing economic policy of diversifying the economy of the country, with the view of further developing the country’s economy and integration into the regional and global trade system.
Ambassador of Portugal to the UN, Rui Macieira, and other International Organizations in Geneva, also attended the signing ceremony.
Journalist: Filomeno Martins
Editor: Nelia Borges
