Syria gains observer status at WTO

Geneva - Syria was granted observer status at the World Trade Organization Tuesday, in the first step towards becoming a member of the global body.

Syria's effort to join the body was aided by Egypt and the group of Arab countries at the Geneva-based organization. No state objected to the proposal, and the European Union, Israel and the United States made no comment at all, WTO officials confirmed.

Developing and emerging markets backed Syria, with statements of support coming from Brazil, China, India and Pakistan.

Damascus has been trying to join the WTO since 2001, but has had its efforts thwarted in back-room negotiations.

Joining the WTO would "contribute both to global welfare and the welfare of the people of Syria," said Faysal Hamoui, Damascus' envoy to Geneva.

A working group will now be established for Syria to begin negotiating the terms of its accession. The process could take a number of years and no end result is certain.

Iran saw a working group established in 2005 on its accession, but that process has been mired ever since in procedural issues.

Russia also still is a candidate - one of the few remaining large economies outside of the global trading bloc.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/show/321973,syria-gains-observer-status-at-wto.html.