Oman Becomes Member of WTO

Published July 7th, 2000 - 02:00 GMT

Oman has had its application to join the World Trade Organization (WTO) accepted, the sultanate's trade minister said Friday. 

"The WTO working group charged with examining Oman's bid to join the organization has unanimously approved it," Makbul Sultan told Al-Watan newspaper. 

Sultan, speaking from Geneva where he was heading an Omani delegation in talks with the WTO, which promotes and monitors world trade, said Oman's accession will be formalized at the organization's meeting in October. 

"The sultanate has filled all conditions necessary to join the WTO, particularly those concerning the opening up of its markets and the liberalization of trade," Sultan said. 

"The sultanate's accession to the WTO will have positive consequences for the country's financial and economic situation, boosting growth," he said. 

Oman, a non-OPEC oil producer, joins four other Gulf Arab states -- Bahrain, Kuwait, Qatar and the United Arab Emirates -- already to have membership, while Saudi Arabia remains in negotiations to join the Geneva-based organization - MUSCAT (AFP) 

© 2000 Al Bawaba (www.albawaba.com)

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