International
Ethiopia Racing to join WTO Membership in 2026
Ethiopia is actively engaging with the WTO to conclude its accession negotiations as early as 2026 and to implement its accession commitments.
In a statement, WTO confirms : “As Ethiopia prepares for its 5th Working Party meeting in 2025, the Steering Committee agreed on an accession roadmap which outlines steps and timelines for concluding the negotiations, currently envisaged for 2026.
” Ethiopia is not a member of the WTO though Ethiopia’s gradual accession to the WTO has been underway since 2003.
In August 2023, Ethiopian negotiators lined up a fifth working party meeting with WTO, tentatively set up for March or April 2024.
However, Ethiopia then paused the process for eight years, primarily over concerns about liberalising its banking and telecom sectors.
In June 2019, Ethiopia’s Prime Minister, Abiy Ahmed, reactivated the process and formed a national committee of ten members to resume the accession procedure.
A high-level delegation from Ethiopia led by Kassahun Gofe Balami, Minister of Trade and Regional Integration and Chief Negotiator for WTO Accession, visited the WTO on 5-11 December to prepare for the reactivation of the country’s accession Working Party in early 2025.
The visit marked Ethiopia’s strong re-engagement in the accession process five years after the last Working Party meeting in January 2020. The visit began with a meeting between Minister Kassahun Gofe Balami and WTO Deputy Director-General Xiangchen Zhang on 5 December 2024.
Minister Kassahun Gofe Balami reaffirmed Ethiopia’s strong commitment to restarting and accelerating its WTO accession.
He underscores the recent progress in Ethiopia’s domestic economic reforms. He further expressed gratitude for the technical support provided by the WTO Secretariat and emphasized his Government’s needs for continued capacity-building, as a least-developed country (LDC).
The Minister also participated in the 9th Working Party Meeting of Uzbekistan on 5–6 December 2024. In his intervention at the meeting, he highlighted that Ethiopia shares Uzbekistan’s steadfast commitment to joining the WTO and noted the contribution of WTO accession to the diversification and liberalization of acceding economies.
The visit included briefing sessions on WTO Accession, jointly delivered by the World Bank and the WTO Secretariat on 9–10 December 2024.
Members of Ethiopia’s Steering Committee addressed the economic impact of WTO membership, key provisions and obligations across WTO Agreements, and specific issues in Ethiopia’s multilateral and bilateral accession negotiations.
The delegation recognized the significant benefits of WTO accession, including increased trade predictability, access to WTO instruments, and increased attractiveness of Ethiopia’s economy for foreign direct investment.
Photo Caption: Members of the Steering Committee: Ambassador Mesganu Arga Moach, State Minister of Foreign Affairs and Deputy Chief Negotiator on WTO Accession; Yasmin Wohabrebbi Saeed, State Minister of Trade and Regional Integration; Eyob Tekalign Tolina, State Minister of Finance; Belayihun Yirga Kifile, State Minister of Justice; Debele Kabeta Hursa, Commissioner for Customs; Fikadu Digafie Huriso, Vice Governor of the National Bank of Ethiopia; and Zeleke Temesgen Boru, Commissioner for Investment.
International
Trump says he thinks Putin is helping Iran
“I think he might be helping them a bit, yeah.”“I guess, and he probably thinks we’re helping Ukraine, right?”
President Donald Trump on Friday said he believed that Russian leader Vladimir Putin is helping Iran in its war against the United States and Israel.
According to CNBC, Trump’s comment came in a radio interview with Fox News host Brian Kilmeade, and a week after the president lashed out at Fox News reporter Peter Doocy for asking him at the White House about reports that Russia was aiding Iran.
Kilmeade asked Trump on Friday: “You think Putin is helping them?”
Trump replied, “I think he might be helping them a bit, yeah.”“I guess, and he probably thinks we’re helping Ukraine, right?” Trump continued.
“Yeah, we’re helping them also,” Trump said, referring to Ukraine, which has been at war against Russia since being invaded in early 2022.
“So he [Putin] says that, and China would say the same thing, you know,” Trump told Kilmeade.
“It’s like, ‘Hey, they do it, and we do it, in all fairness,’ ” Trump said. “They do it, and we do it.”
International
IEA agrees to release record 400 million barrels of oil to address Iran war supply disruptions
The IEA did not set out a timeline for when the stocks would hit the market
Merchant ship on fire hits by Iran in Strait of Hormuz.
The International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war, the largest such action in the organization’s history.
The IEA did not set out a timeline for when the stocks would hit the market.
It said that the reserves would be released over a time frame that is appropriate to the circumstances of each of its 32 member countries.
IEA members are primarily advanced economies in Europe, North America and northeast Asia. The organization is tasked with maintaining global energy security.
It was founded in 1974 in response to the oil embargo imposed by Arab producers over U.S. support for Israel during the 1973 Arab-Israeli war.
(CNBC)
International
Iran tells world to get ready for oil at $200 a barrel as it fires on merchant ships
The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global energy markets and transport into chaos.
(REUTERS): Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s.
The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global energy markets and transport into chaos.
Despite what the Pentagon has described as the most intense airstrikes since the start of the war, Iran also fired at Israel and targets across the Middle East on Wednesday, demonstrating it can still fight back.
On Wednesday, three vessels were reported to have been hit in Gulf waters as Iran’s Revolutionary Guards said their forces had fired on ships in the Gulf that had disobeyed their orders.
While Israel’s Defence Minister Israel Katz said the operation “will continue without any time limit, as long as required, until we achieve all objectives and win the campaign,” Trump suggested the campaign would not last much longer.
-
News3 days agoTinubu appoints Lamido Yuguda as CBN’s Deputy Governor
-
News3 days agoSenate confirms Oyedele as minister
-
Business1 day agoSenate will pass 2026 budget after Sallah break, says Akpabio
-
Entertainment1 day agoTiwa Savage foundation to train 100 African music talents
-
Politics1 day agoCourt bars Aiyedatiwa from re-contesting for third term
-
International3 days agoIran tells world to get ready for oil at $200 a barrel as it fires on merchant ships
-
International3 days agoIEA agrees to release record 400 million barrels of oil to address Iran war supply disruptions
-
International24 hours agoTrump says he thinks Putin is helping Iran
