World Bulletin / News Desk
Yemen has resolved a months-long spat with Ukraine that had threatened to derail its bid to join the World Trade Organization, the WTO said on Thursday.
The agreement puts Yemen back on course to join the world trade body as early as the end of 2012. That would make it the 159th member after Russia and Vanuatu, which will both become members in August, and Laos, which is finalising entry terms.
Every new WTO member has to bring its own laws into line with WTO standards and agree to open trade to satisfy every existing member. That gives every member an effective veto on new joiners.
WTO spokesman Keith Rockwell said Ukraine had agreed terms with Yemen, enabling the WTO's working party on Yemen's accession to hold a final meeting in late September. The wider WTO membership will then approve Yemen's membership package and send it back to Yemen for ratification.
Ukraine's tough demands on Yemen had caused friction at the WTO, where some diplomats saw its stance as going against the grain of a new push to make it easier for poorer countries such as Yemento join.
Three senior WTO diplomats were helping to facilitate the negotiations between Yemen and Ukraine, but Ukraine warned them earlier this month not to interfere in its sovereign right to negotiate withYemen and to demand lower trade barriers.
Ukraine's insistence on wringing concessions out of Yemen had mystified many WTO diplomats, since it does very little trade with the Arab country.
It had also earlier held out against Laos' membership, but the two sides reached a deal at the start of June.
Gas pipeline will also link Turkmenistan, Afghanistan, Pakistan, and India via roads, railways, and fiber optics
Inflation among EU19 countries down 0.1 percentage point from Dec. 2017, says Eurostat
BIST 100 rises 0.51 pct; USD/TRY exchange rate stays at 3.79 while EUR/TRY exchange rate drops to 4.66
Deal does not mean much unless countries resolve arbitration case, define pipeline route and get licenses: OME hydrocarbons Dir.
Bank's net profit rose to €1.3B last year, up around 7 pct from 2016
Over last decade, Turkey earned over $200M from hazelnut exports to China
BIST 100 index drops 0.15 pct, US dollar slightly up to 3.7970 Turkish liras, euro-lira rate down to 4.6640
BIST 100 index rises 1.40 pct, U.S. dollar up to 3.7910 liras, euro-lira rate climbs to 4.6740
10 Turkish agricultural machinery producers and exporters explore Ethiopian market during visit to Addis Ababa
Turkish firms' know-how' in construction sector is an advantage to have in joint projects in Africa: Japanese bank manager
BIST 100 index gains 0.48 percent at opening; USD/TRY stands at around 3.75
Office workers, farmers and radio hosts are taking on new nationalities, relocating their businesses or looking forward to lucrative alternative trade deals, as politicians struggle to come up with a plan.
The International Monetary Fund was going to be "attentive" to the consequences of the reform, which notably includes a sharply lower corporate tax rate, she told French radio station France Inter.
More than 9,000 new companies established in January, according to major business body
Company reaches settlement with EPA following investigation started in 2014