Posted by: mulrickillion | December 30, 2011

WTO | 2011 News items – Montenegro’s WTO accession package adopted

WTO: 2011 NEWS ITEMS

5 December 2011

ACCESSIONS

Montenegro’s WTO accession package adopted

The Working Party on Montenegro’s accession paved the way for the country’s membership of the WTO by adopting, ad referendum, the country’s accession terms. Ministers are expected to accept Montenegro as a new WTO member at the 15-17 December Ministerial Conference. Montenegro will have until 31 March 2012 to ratify the accession package.

As part of its accession commitments, Montenegro has agreed to further liberalize its trade regime and accelerate its integration in the world economy. The country has also pledged to provide a transparent and predictable environment for trade and foreign investment.

From the date of accession, Montenegro has committed to fully apply all WTO provisions. WTO rules, including Montenegro’s Protocol of Accession, would be applied uniformly throughout its customs territory and other territories under its control. Montenegro would, two years after accession, establish an official journal dedicated to the publication of all legislation related to international trade.

“This is the fourth WTO accession this year. This is an important step in making the WTO a more global organization and shows that the WTO and multilateralism remain a priority for trade policy. WTO membership will enhance Montenegro’s capacity to be more competitive in trade through policy and legislative reforms. It will also provide Montenegro with the ’WTO label’, which is so important to attract investors,” said WTO Director-General Pascal Lamy. 

“This is a big step forward in integrating the multilateral trading system. WTO membership is one of the main priorities of the government. . . .

WTO | 2011 News items – Montenegro’s WTO accession package adopted

>>More on Montenegro: http://www.wto.org/english/thewto_e/acc_e/a1_montenegro_e.htm

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