Vatican Admitted To World Trade Body As Observer
The Vatican, which has minimal foreign trade but says its presence in international bodies helps strengthen global economic progress, was admitted on Wednesday as an observer to the World Trade Organisation (WTO).
Delegates to the currently 131-member WTOs ruling General Council approved the move by consensus and agreed to waive a requirement that observers have to apply for full membership of the organisation within five years.
In its request for observer status, the Holy See which argues it is a champion of the worlds poorer states said that the insignificant size of its international trade....does not warrant any special economic or trade policy.But it wanted official and permanent relations with the Geneva-based WTO to follow its future development and to co-operate in its activities.
The Holy See saw a fair international trading system as one of the key factors for development and that the 1994 treaty setting up the body could promote a better international understanding, suitable for the economic progress of all countries, including the least-developed ones..The WTOs activity seems destined to promote a legal framework of international trade law with decisive influence on the whole span of relations between countries, including the strengthening of peace, the formal text of the request said.
As an observer, the Vatican will join 30 other countries including China and Russia and other smaller developing countries and emerging economies whose applications for full membership of the WTO are pending.
Observers in the body are allowed to sit in on most meetings, including the monthly General Council sessions, attend Ministerial conferences the WTOs highest forum held every two years and have access to documents.
Their representatives are allowed to speak if there is no objection from full members present, but they cannot block any WTO decisions, all taken by consensus, by witholding approval.
The Vatican is a permanent observer in many bodies of the United Nations system to which the WTO does not belong and a full member of the Geneva-based trade and development agency UNCTAD and the World Intellectual Property Organisation, WIPO.