Ethiopia is close to securing membership of the World Trade Organisation (WTO) with the final round of negotiations are set for late February or early next month, a senior official has disclosed.
Speaking to the media on Monday, the trade and regional integration minister Kassahu Goffe said Ethiopia’s negotiations to join the WTO has reached a pivotal level, marking a significant step to integrate the country into the international trading system after years of extensive preparation and reform.
Ethiopia first applied for WTO membership in 2003 and has since undertaken substantial economic and trade policy reforms to meet the organisation’s stringent requirements. The upcoming talks which will take place in Geneva, will focus on finalising key competition contracts, including market access commitments and necessary domestic regulatory adjustments.
Ethiopia’s long-standing ambition to join the WTO is nearing a pivotal moment, with the next round of negotiations scheduled for late February or early March.
“This is a historic opportunity for Ethiopia to strengthen its economy and attract foreign investment,” said Gofe.
“Joining the WTO opens new doors for exporters and creates a platform for sustainable growth” the minister added.
A high-level Ethiopian delegation, led by Kassahun, recently met with the WTO Secretariat in Geneva. The delegation, which included representatives from various institutions, successfully completed all necessary documentation for distribution to member states, paving the way for the fifth round of negotiations.
The negotiations will cover critical aspects such as tariff structures, the liberalisation of service sectors, agricultural subsidies, intellectual property protections, and adherence to global trade standards.
A crucial element of these negotiations is Ethiopia’s commitment to ensuring fair competition while protecting local industries from potential external market shocks.
In a recent interview with local media, state minister of trade and regional integration Yasmin Wohabrebbi reiterated that the upcoming round of negotiations represents a crucial step toward Ethiopia’s WTO membership.
MG/as/APA