Comoros becomes 165th member of the World Trade Organisation

The Comoros on Wednesday became the 165th member of the World Trade Organisation after negotiating terms for 17 years.

"I am particularly proud to welcome Comoros as the newest member of the WTO," said the organisation's director-general Ngozi Okonjo-Iweala.

"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 clearly demonstrated willingness to adapt to its rules and principles."

The archipelago of three islands and about 850,000 people join 35 other members in the least-category of developed countries. Categories approved Comoros' accession during the trade body's 13th ministerial conference in Abu Dhabi in February.

Accession can take years as it entails long negotiations with all WTO members, each of whom has the power to block a country from joining.

Afghanistan and Liberia were the last two countries to join the WTO in 2016. Kazakhstan and the Seychelles joined in 2015.

Twenty-three countries have accessions in progress. East Timor's membership is due to become effective on August 30, after their application was approved at the February meeting.

Comoros President Azali Assoumani, a former military ruler who came to power in a 1999 coup, said in Abu Dhabi that joining the WTO would be "immensely beneficial for our entire economy, public and private enterprises, and consumers.

"It will contribute to our country's trade diversification and partnership efforts, to its integration into regional, continental and global value chains."

In joining the Geneva-based WTO, the Comoros also announced its formal acceptance of the WTO Agreement on Fisheries Subsidies.

The 2022 deal bans subsidies that contribute to fishing that is illegal, unreported or unregulated.

It also bans subsidies for fishing of overstretched stocks in unregulated high seas, with additional flexibility for developing nations.

The agreement has now been accepted by 56 members, including the European Union, the United States, China, and Russia.

For the agreement to enter into force, two-thirds of WTO members, now 110 members, must formally accept the protocol.