Seychelles, an archipelago of 90000 inhabitants became the 161st member of the World Trade Organization (WTO). It is one of the smallest nations among the WTO members. WTO approved ended Seychelles to become a member of WTO after 20 years since it last applied for WTO membership in May 1995.
Seychelles also became the 33rd government to accede to the rules-based multilateral trading system through Article XII negotiations since the WTO was established in 1995. The President of Seychelles, James Michel had signed the legal instrument for the island nation to the WTO on March 25, 2015 a day after the accession protocol was ratified by the Seychelles National Assembly.
As per the WTO rules, the 30-day countdown to its WTO membership was activated on March 27, 2015 and Seychelles officially became a WTO member on April 26, 2015.
It should be noted that the Protocol of Accession was signed by former Seychelles’ Minister of Trade, Finance and Investment Pierre Laporte and WTO Director General (DG) Roberto Azevedo.
Always Seek Knowledge:
About WTO:
- The World Trade Organization (WTO) is an intergovernmental organization which regulates international trade.
- The WTO’s current Director-General is Roberto Azevêdo.
- Total Membership: 161 Countries
- WTO was established in 1995 replacing General Agreement on Tariffs and Trade (GATT).
Nuts and Bolts of Seychelles:
- Capital: Victoria
- Language: French & English
- Largest City: Victoria
- Independence: 29th June 1976.
- Currency: Seychellois rupee
