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Article: Additional countries seek entry into WTO: Saudi Arabia, Russia must open markets as condition of membership.(Capitol Comments)
- Article from:
- Nonwovens Industry
- Article date:
- November 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Rodman Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It looks like the 148-member World Trade Organization (WTO) is about to add at least one--and possibly two--new member countries within the coming months. Indeed, at present, there are 31 nations actively pursuing WTO membership and, regardless of size, each of these countries has the potential to alter the global economic landscape once they become members.
This is largely due to the fact that a condition of WTO membership is a commitment to open markets, and several of the countries now seeking to join the organization have had somewhat closed economies for decades. History also shows that WTO membership can dramatically elevate the economy of a newly acceded ...