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Wednesday, 12 September 2012

Vanuatu: the 157th WTO member

As the Ambassador of Vanuatu  to the EU, HE Roy Mickey Joy, stressed in an interview to the CTA Brussels Weblog, the Pacific country has recently  become 157th WTO member.  According to the WTO, from the date of accession Vanuatu is applying all provisions and not requiring recourse to any transitional period, except on intellectual property and on the publication of trade information.
Vanuatu is applying an average final bound rate of 39.7% and making specific commitments on 10 services sectors. The services sector has been growing and now accounts for three-quarters of Vanuatu’s GDP.
Also speaking  of Russia, which joined  WTO days before Vanuatu, WTO Director-General Pascal Lamy has stated: “Once again this year, we welcome two new members in the WTO family. It has been a long journey for both countries and they will undoubtedly strengthen the multilateral trading system”.

Source: WTO