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ADB support Samoas WTO accession

Written by Cherelle Jackson
Thursday, 17 April 2008
Vice-President of Asia Development Bank C. Lawrence Greenwood Jr Vice-President of Asia Development Bank C. Lawrence Greenwood Jr. says ADB supports Samoas accession to the World Trade Organisation. “Accession of nations such as Samoa to WTO is something we encourage and we are happy to support,” Lawrence told Samoan media last week. According to a submission made by Samoa to ADB the decision to enter WTO is in line with government reforms and complements forward looking economic policies by Government. The report states: “As a small open economy, dependent on a narrow resource base, Samoa’s economic activity is largely dependent on limited sectors including agriculture, tourism, small-scale manufacturing and fisheries. As such, its economic performance is impacted heavily by external factors in the form of commodity export prices, remittances, tourism and external aid resources.” But the accession status of Samoa has met with heavy criticisms from local Non Government Organizations and regional bodies. Oxfam New Zealand says that trade could help reduce hardship in the Pacific, but international trade rules are stacked in favour of rich countries. “Pacific governments are under pressure to open up their markets to goods and services from overseas yet history shows that opening up national markets too quickly or in the wrong way can increase hardship and poverty,” Oxfam stated. The Working Party on the accession of Samoa was established on the 15th of July 1998. The Memorandum on Samoa's Foreign Trade Regime was circulated in February 2000. A first revision of the draft Working Party Report was circulated in November 2006. Bilateral market access negotiations on goods and services are underway on the basis of an initial offer on goods and a revised services offer. The last draft working party report was made in November 2006…..WTO/NBR Comments (0) Subscribe to this comment's feed Write comment Name Email Title Comment

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