DILI, 18 april 2024 (TATOLI) – The House Speaker, Maria Fernanda Lay, said the National Parliament will ratify Timor-Leste WTO’s accession package before the celebration of the restoration of Independence Day which will take place on may 20.
“The government has asked the National Parliament to ratify the accession package. We will certainly ratify it before may 20,” House Speaker Lay told reporters after meeting President Horta at the Presidential Palace, in Dili, on wednesday.
On february 26, Timor-Leste officially became a full member of the World Trade Organization (WTO) at the WTO’s 13th ministerial meeting, in Abu Dhabi.
The Protocol of the Accession of the Timor-Leste to WTO was signed at the end of the ceremony by the Vice-Prime Minister and Minister Coordinator for Economic Affairs and Minister of Tourism and Environment, Francisco Kalbuadi Lay, and WTO Director-General Ngozi Okonjo-Iweala.
According to WTO, once the membership is approved by the General Council of Ministerial Conference, the applicant is then free to sign the Protocol of Accession stating that it accepts the approved “accessions package” subject to ratification in its national parliament. Normally three months is given from signature of the Protocol of Accession for this to take place. Thirty days after the applicant government notifies the WTO Secretariat that it has completed its ratification procedures, the applicant government becomes a full Member of the WTO.
Timor-Leste has been granted WTO observer status since 2016, and the country keeps working to take another step towards fulfilling the membership terms to become a full member of the organization.
Timor-Leste submitted its application for accession to the WTO in november 2016 as part of a broader national trade strategy to integrate the country further into the world economy to promote economic growth and development.
Timor-Leste’s WTO accession process started on december 7, 2006, through the establishment of the Working Group.
Journalist: Jose Belarmino de Sa
Editor: Filomeno Martins
