On August 21, 2024, Comoros reached a crucial milestone in its economic development by becoming the 165th member of the World Trade Organization (WTO). This accession marks the culmination of a negotiation process that lasted 17 years, demonstrating the country’s determination to integrate into the global economy.
Comoros, an archipelago located in the Indian Ocean, thus becomes the tenth least developed country (LDC) to join the WTO through negotiations. This accession is particularly significant as it opens new prospects for the country’s economic development.
WTO Director-General Ngozi Okonjo-Iweala warmly welcomed Comoros into the organization. She emphasized the importance of this membership for the modernization and transformation of the Comorian economy, as well as for complementing the country’s regional integration program in the African continent.
A notable aspect of this accession is Comoros’ commitment to WTO principles. The country notably announced its formal acceptance of the WTO Agreement on Fisheries Subsidies, bringing the total number of acceptances of this agreement to 82.
The accession process began on February 22, 2007, when Comoros applied to join the WTO. After years of negotiations, WTO members officially approved the country’s accession at the thirteenth Ministerial Conference in Abu Dhabi on February 26, 2024. The National Assembly of Comoros then approved the Accession Protocol on June 10, paving the way for official membership.
This accession represents a major opportunity for Comoros to benefit from the advantages of international trade, while bringing a new voice to the multilateral trading system. It also testifies to the WTO’s ongoing commitment to integrating developing countries into the global economy.
As Comoros begins this new chapter in its economic history, all eyes are on how the country will leverage its WTO membership status to stimulate growth and improve the standard of living of its population.
