Uzbekistan Finalizes Its WTO Accession Negotiations With Philippines
Date
12/2/2024 2:20:53 AM
(MENAFN- Trend News Agency)
TASHKENT, Uzbekistan, December 2. Uzbekistan
completed bilateral negotiations on accession to the World Trade
Organization (WTO) with the Philippines, Special Representative of
the President of Uzbekistan on WTO Issues Azizbek Urunov wrote on
his LinkedIn page, Trend reports.
“Despite it being Sunday, we had a signing ceremony on the
conclusion of bilateral negotiations with the Philippines in Geneva
at the Philippines mission,” he said.
He noted that the Philippines is one of four countries with
which Uzbekistan finished negotiations past two months, making the
total number of conclusions twenty-two, including the other three:
El Salvador, the US and China.
The working group for Uzbekistan's entrance to the WTO was
formed in 1994. The procedure was officially reinstated after the
fourth meeting of the working group in July 2020. Four additional
meetings of the working group occurred between 2022 and 2024.
Uzbekistan is gearing up to throw its hat in the ring for WTO
membership before the 14th ministerial conference rolls around in
Cameroon in 2026, according to Deputy Prime Minister Jamshid
Khodjaev, who is at the helm of the country's delegation at the
eighth meeting of the working group on Uzbekistan's bid to join the
WTO.
The WTO was established on 1 January 1995; however, its trading
system dates back fifty years. The WTO comprises 166 members,
representing 98 percent of global trade. All members have entered
the system by agreement; hence, membership entails a balance of
rights and responsibilities. More than 20 nations are in
negotiations to join the group. All WTO members are required to
undergo regular evaluations of their trade policies and procedures,
with each assessment including reports from the respective country
and the WTO Secretariat.
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