GENEVA (AP) — Oil-rich Libya yesterday was accepted as a candidate for membership in the World Trade Organization, its latest success in moving from pariah state to international respectability.
WTO members agreed unanimously to allow Libya to start negotiations to join the body that sets global rules on international trade. The process is likely to take several years.
Libya first applied for membership in December 2001, but the issue had never been formally put to the WTO before because it was clear that the United States would oppose the request. Under WTO rules, all decisions are made by consensus.
But Libya has been slowly moving back toward international acceptance since leader Moammar Gadhafi gave up his nuclear weapons program, revealed secrets about the nuclear black market and took responsibility for the 1988 bombing of Pan Am 103, promising to pay compensation to relatives of the 270 victims.
Washington has resumed formal diplomatic ties with the country, which has been ruled by Col. Gadhafi for 35 years.
Libyan Ambassador Najat al-Hajjaji said it was important for her country to join the WTO.
“Sometimes developing countries might not get all the benefits they need, but it is something that we cannot stay outside. It is a disadvantage to the country to stay outside of this organization,” she said.
The WTO, which has 147 members, sets legally binding rules for trade that are designed to give all countries an equal opportunity to sell their exports. It is negotiating a new “round” that would cut import duties and reduce subsidies. Members hope this will give a boost to the world economy.
Please read our comment policy before commenting.