Ruggiero's speeches, 1995-99
Oman's forthcoming accession is a new vote of
confidence in the WTO, said Mr. Moore. No
nation, large or small, can secure its future alone, and
the Multilateral Trading System provides a stable and
predictable framework for economic engagements between
nations and for the business community. That in turn
promotes growth, employment and prosperity.
Moore added: About thirty candidates are lining up
to join the WTO. They see the benefits of a system based
on the rule of law and not by the exercise of power.
Its a system that has served us well now for more
than fifty years and has provided for open markets and an
unprecedented economic growth.
Moore welcomed the conclusion of Oman's negotiations,
which started in April 1996, and looked forward to the
Sultanate becoming a full Member of the Organization.
Maqbool ali Sultan reiterated that the Sultanate of Oman
attaches great importance to its membership of the WTO.
He stressed that Oman sincerely believes in the
principles of the multilateral trading system embodied in
the WTO rules, and in fact, Oman has been following these
principles for a long time. Mr. Sultan added that
Membership of the WTO is a reaffirmation of Oman's
commitment to the principles of the Multilateral Trading
main merchandise exports are mining products,
particularly fuels, which account for 78 percent of the
Sultanate's total exports. The main merchandise imports
are manufactures, in particular machinery and transport
equipment. The Sultanate is now in the process of
diversifying its economy after making efforts to
introduce or amend legislation to ensure that its WTO
obligations are fulfilled from the date of accession.
countries in the Middle Eastern region are already
members of the WTO : Bahrain, Egypt, Israel, Jordan,
Kuwait, Qatar and the United Arab Emirates. Two others
are still in the process of negotiation : Lebanon and
28 governments are currently negotiating to join the WTO:
Algeria, Andorra, Armenia, Azerbaijan, Belarus, Bhutan,
Bosnia and Herzegovina, Cambodia, Cape Verde, People's
Republic of China, Former Yugoslav Republic of Macedonia,
Kazakstan, Lao People's Democratic Republic, Lebanon,
Moldova, Nepal, Russian Federation, Samoa, Saudi Arabia,
Seychelles, Sudan, Chinese Taipei, Tonga, Ukraine,
Uzbekistan, Vanuatu, Vietnam and Yemen.
completed negotiations on October 2nd and the WTO's
General Council is due to approve the accession in