Government Submits Protocol of Accession and Instrument of Acceptance of the Agreement on Fishing Subsidies to the World Trade Organization
The Government of Timor-Leste is pleased to announce the submission of its Protocol of Accession and the Instrument of Acceptance of the Fisheries Subsidies Agreement to the World Trade Organization (WTO) today, 22 July 2024, in Geneva, Switzerland. This marks a historic milestone for the nation, paving the way for Timor-Leste to become an official WTO member by 30 August 2024.
With the full power attributed by the H.E Prime Minister Mr. Kay Rala Xanana Gusmão, the Deputy Prime Minister and Coordinating Minister for Economic Affairs, and Minister for Tourism and Environment, Mr. Francisco Kalbuadi Lay, presented Timor-Leste's Accession Protocol to the General Director of WTO, Dr. Ngozi Okonjo-Iweala.
This submission is the culmination of a national effort involving multiple government bodies, particularly the Interministerial Commission for Timor-Leste's WTO accession, the National of Parliament, led by Fernanda Lay the Presidency of the Republic Dr. José Ramos Horta, and the dedicated technical team from various ministries and autonomous agencies.
Timor-Leste first applied for WTO membership in April 2015, and on 7 December 2016, the WTO General Council established a Working Group to review Timor-Leste's application under Article XII of the Marrakesh Agreement.
The Deputy Prime Minister Francisco Kalbuadi Lay, representing the IX Constitutional Government in his remark, expressed profound appreciation for the contributions of all involved. "Our journey to becoming a full member of the WTO has been a testament to our resolve and collective effort. The submission of these documents is not merely a procedural formality but a declaration of our readiness to embrace the responsibilities and opportunities that come with WTO membership."
Timor-Leste's accession to the WTO will significantly enhance infrastructure development, human capital, and legislative-policy reforms. It will support the implementation of structural, legislative, and domestic policy reforms necessary to meet WTO commitments.
Furthermore, the submission of the Instrument of Acceptance of the Fisheries Subsidies Agreement, which was ratified by the National Parliament on 10 July 2024, underscores Timor-Leste's commitment to advancing blue economy initiatives and reinforces the government’s priority of diversifying the economy.
The Deputy Prime Minister Francisco Kalbuadi Lay also added, “To fully implement our WTO commitments and leverage the opportunities of WTO membership, support from both WTO members and our development partners remains essential. As we embark on this new chapter, we are confident that with your support, we will not only meet our commitments but also contribute positively to the global trading system.”
With the accession to the WTO, The Government of Timor-Leste is committed to addressing the challenges through continuous efforts on necessary reforms, capacity building, and strategic policy implementation. This will better prepared Timor-Leste for regional economic integration and cooperation, particularly with its imminent full membership, in principle, to ASEAN by 2025, and participation in future Free Trade Agreements.
As Timor-Leste steps onto the global stage, the Government is optimistic that WTO membership will serve as a catalyst for sustainable economic growth, fostering an environment where trade flourishes and the benefits are shared by all Timorese people.
