Join WTO now: cabinet urged
 |
29 April, 2009 – Bhutan could be a step closer to the WTO after the ministry of economic affairs (MoEA) – in a report to the prime minister and the cabinet – strongly advocated that the country join WTO as soon as possible, at a time when its environment was friendly to the least developed countries (LDCs).
The report says that, if the government wanted, Bhutan could accede by late 2009 or early 2010. But, if delayed, the accession process would be slowed down and the benefit of a positive environment, favourable to LDCs, created by the Doha round, would be lost.
It further states that the progress achieved so far in the accession effort would be meaningless and that Bhutan’s image of a committed and serious negotiator would suffer. It also said that, if accession negotiations were to be restarted in future, the terms could be more demanding on Bhutan.
The cabinet will, however, have the final say. The prime minister has asked the centre for Bhutan studies and the Gross National Happiness commission for their feedback.
The report claims there is no big loss or gain for Bhutan from joining WTO, but it would be the baseline for other bilateral and regional trade negotiations and promote a rule-based system on the lines of good governance.
It says that Bhutanese agriculture would not be affected due to high duties on agricultural imports. There would also be no risk of a flood of consumer and industrial goods, because of higher duty rates and complete freedom on internal VAT rates, it said. WTO complements GNH and national sovereignty, according to the report.
The report further states that, sooner or later, Bhutan will have to become a member of WTO and asks the government how it should move forward.
What WTO is about
Deals with regulation of trade between member countries
Has 153 members, representing more than 95% of total world trade
Doha was launched for equity of poorer countries but negotiation has been dogged by disagreements
Source: Kuenselonline