The Vice-Director-General of the World Trade Organization (WTO), Xiangchen Zhang, is visiting Timor-Leste between February 3 and 13, as part of the implementation of the country’s post-accession strategy to the WTO.    During the visit, Xiangchen Zhang met with the Heads of State and Government to discuss the challenges and opportunities of integrating Timor-Leste into the multilateral trade system. 

At the end of the meeting with the Prime Minister, Zhang highlighted the importance of the visit for the implementation of the post-accession strategy, underlining the relevance of the conference taking place between February 9 and 12, which brings together representatives from key sectors to discuss ways of maximizing the benefits of WTO membership. 

The conference, entitled “Maximizing the Benefits of WTO Accession and Creating Greater Synergies with Regional Integration as a Path to Achieving Timor-Leste’s 2030 Development Goal”, will be attended by members of the Government, the National Parliament, development partners and representatives from the private sector, academia and civil society. 

At the opening session, the Vice-Prime Minister and Coordinating Minister for Economic Affairs, Francisco Kalbuadi Lay, reaffirmed Timor-Leste’s commitment to implementing the reforms needed to maximize the benefits of WTO membership “Timor-Leste sees accession to the WTO and continued integration into the ASEAN Regional Trade Agreement as strategic opportunities to accelerate internal reforms and achieve the objectives of the Strategic Development Plan (2011-2030).   . These processes are interlinked and are essential to achieving our vision of a modern and diversified economy by 2030, based on quality infrastructure and the growth of the middle class,” he said. 

The Vice-Prime Minister also acknowledged the challenges associated with the country’s new international obligations: “We are fully aware of the complexities of aligning our domestic regulations with WTO and ASEAN principles.   This harmonization is crucial to facilitating trade and attracting investment. We believe that WTO members will continue to play a key role in supporting our good governance initiatives To ensure a smooth transition, we have developed a Post-Accession Vision and Strategy document that sets out the priority pillars for successful implementation. This phase represents a valuable opportunity to deepen economic reforms, unlock our growth potential and realize the vision of a prosperous Timor-Leste with a robust, healthy and well-educated middle class.” 

He also stressed that “Timor-Leste believes that trade is an engine of development, and that the country has enormous untapped potential. As a full member of the WTO, we will be able to diversify the economy, integrate into global value chains and boost cross-border business opportunities.   We will have greater capacity to attract foreign investment and create an environment conducive to the growth of our companies, fostering sustainable and inclusive development.” 

Timor-Leste, represented by the Vice-Prime-Minister and Coordinating Minister for Economic Affairs, Francisco Kalbuadi Lay, signed the accession protocol to the World Trade Organization (WTO) on February 26, 2024, and finally became a full member on August 30, 2024, after a process that began in 2015.