Nepal to become 147th member of WTO

Nepal to become 147th member of WTO

On April 23, 2004 Friday Kingdom of Nepal became the 147th member of the World Trade Organization (WTO), 30 days later after the Protocol of Accession consisting of terms and conditions of WTO membership was ratified and accepted by Nepal. Although WTO already has least developed member countries as General Agreement on Tariffs and Trade (GATT) became the WTO nine years ago, Nepal is the first least developed member of WTO since its establishment in 1995. Nepal had started accession negotiations in 1989. Cambodia completed negotiations in 2003, however hasn't approved the protocol yet. Another 24 countries, including Saudi Arabia, Russia and Ukraine, are in the process of negotiation to become WTO members.