On 21 August 2024, Comoros joined the World Trade Organization (WTO) as its 165th member after 17 years of negotiating its accession terms. It is the 10th Least-Developed Country (LDC) to accede to the WTO through negotiations. The Comoros also announced its formal acceptance of the WTO Agreement on Fisheries Subsidies.
The 30-day countdown to Comoros's WTO membership was activated when the Comoros ambassador handed its instrument of acceptance of the Protocol of Accession to the WTO Director-General (DG) at a meeting of the General Council on 22 July 2024.
The Comoros submitted its instrument of acceptance of the Agreement on Fisheries Subsidies simultaneously, bringing the total number of acceptances of the Agreement to 82.
The WTO DG said, “I am particularly proud to welcome Comoros as the newest member of the WTO. Comoros can use WTO accession as a modernisation and economic transformation vehicle and complement the country's regional integration agenda on the African continent. Comoros's membership will add a valuable voice to the multilateral trading system as it has shown commitment to the values of the WTO and has demonstrated a willingness to adapt to its rules and principles.”
The DG thanked WTO members for their support throughout the accession process and said, "They will continue to accompany Comoros in the post-accession phase.”
The WTO members officially approved the WTO accession of Comoros during a special ceremony at the 13th WTO Ministerial Conference (MC13) in Abu Dhabi, United Arab Emirates (UAE) on 26 February 2024.
Comoros applied for WTO membership on 22 February 2007, and the Working Party was established in October 2007. Members of the Working Party concluded the negotiations on 09 January 2024. Following approval by WTO members at MC13, Comoros's National Assembly approved the Protocol of Accession on 10 June 2024.
Twenty-two (22) governments, including eight African countries, are still negotiating their WTO accession. Timor-Leste's WTO membership is due to become effective on 30 August 2024.
Agreement on Fisheries Subsidies
Adopted by consensus at the WTO's 12th WTO Ministerial Conference (MC12), held in Geneva, Switzerland, from 12 to 17 June 2022, the agreement sets new binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world's fish stocks.
For the agreement to enter into force, two-thirds of WTO members must formally accept the Protocol of the Agreement on Fisheries Subsidies by depositing an instrument of acceptance with the WTO.
The agreement recognises the needs of developing economies and LDCs. It establishes a fund to provide technical assistance and capacity-building to help them implement the agreement.
The agreement prohibits subsidies for illegal, unreported and unregulated (IUU) fishing, for fishing overfished stocks, and fishing on the unregulated high seas.
Members also agreed at MC12 to continue negotiations on outstanding issues and adopt additional provisions that would further enhance the disciplines of the agreement.