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.
Ministers meet in Ankara to discuss boosting trade volume from $10 billion to $30 billion
The 3 countries are agreed to expand scope of free trade deals by 2017, says Turkish economy minister
Under current conditions, the IEA expects global output to exceed demand until the second half of 2017, Fatih Birol told journalists on the sidelines of an energy conference in Singapore.
The decision comes as the steel arm of the sprawling $100 billion conglomerate struggles to offload its loss-making British assets while its carmaking business continues to be plagued by weak sales.
Water quality and shortages also remain threat to health of many with onset of diseases
Bank expects ‘solid rise in energy prices, led by oil' next year
Bank of Uganda Governor Emmanuel Tumusiime-Mutebile said in a statement the bank would remain open, continue to operate normally and that the central bank would protect deposits.
Four presidents meet, but hopes of diplomatic breakthrough for cease-fire in eastern Ukraine remain low
Having taken years to negotiate, some producers voiced impatience for the deal to now be finally sealed; others simply fail to see why anyone would reject it.
"The value of this project will be $10 billion with a final production level of 600,000 barrels of oil per day," he said in Tehran.
Bangladesh has been one of the worst victims of global warming, with thousands of people being killed by cyclones in recent years that have become more frequent and deadlier.
Exporting Israeli gas via Turkey to Europe is viable option, says Israeli Energy Minister
French energy group EDF views Turkey as 'growth country' with more room for nuclear, renewable and hydro projects, VP says
"If OPEC sticks to its new target, the market's rebalancing could come faster," it said.
Further warrants issued against police suspected of using ByLock messaging service
A stock index of firms compliant with the principles of Islamic Sharia law, in cooperation with Bosna Bank International was launched today