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Ethiopia Racing to join WTO Membership in 2026

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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.

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International

Japan opens door to global arms market with overhaul of defence export rules

“No single country can now protect its own peace and security alone, and partner countries that support each other in terms of defence equipment are necessary,” Japanese Prime Minister Sanae Takaichi said in a post on X.

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Japan’s old warship / Reuters image

Japan on Tuesday unveiled its biggest overhaul of defence export rules in decades, scrapping restrictions on overseas arms sales and opening the way for exports of warships, missiles and other weapons.

According to Reuters, the move aimed at strengthening Japan’s defence industrial ‌base marks another step away from the pacifist restraints that have shaped its postwar security policy.

Wars in Ukraine and the Middle East are also straining U.S. weapons production, expanding opportunities for Japan.

At the same time, U.S. allies in Europe and Asia are looking to diversify suppliers as Washington’s long-held security commitments look less certain under President Donald Trump.

“No single country can now protect its own peace and security alone, and partner countries that support each other in terms of defence equipment are necessary,” Japanese Prime Minister Sanae Takaichi said in a post on X.

The revision approved by Takaichi’s government removes five export categories that had limited most military exports to rescue, transport, ⁠warning, surveillance and mine-sweeping equipment.

Ministers and officials will instead assess the merits of each proposed sale.

Japan will keep in place three export principles that commit it to strict screening, controls on transfers to third countries and a ban on sales to countries involved in conflict.

But in a presentation outlining the changes, the government said exceptions could be made when deemed necessary for national security.

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South Korea Successfully Navigates First Oil Tanker Through Red Sea Amid Strait of Hormuz Blockade

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A South Korean oil tanker has safely transited the Red Sea, marking the country’s first successful crude oil shipment via this alternative route since the effective closure of the Strait of Hormuz earlier this year.

The development comes as South Korea intensifies efforts to secure its energy supplies amid ongoing geopolitical tensions and the blockade of one of the world’s most vital oil chokepoints, triggered by the prolonged conflict involving Iran.

According to the Ministry of Oceans and Fisheries, the tanker, which loaded crude oil at Yanbu port in Saudi Arabia on the Red Sea, has now exited the waterway. President Lee Jae-myung welcomed the news, describing it as a positive step for the nation’s energy security.

“It is good news that our vessel is transporting crude oil via the Red Sea for the first time since the blockade of the Strait of Hormuz,” President Lee posted on social media, commending officials and the crew for their efforts.

The move forms part of a broader strategy to diversify import routes and reduce reliance on the blocked Strait of Hormuz.

South Korea has already secured more than 270 million barrels (approximately 273 million barrels according to some reports) of crude oil and naphtha from the Middle East and Kazakhstan through alternative channels unaffected by the crisis.

These supplies are expected to sustain the country’s needs for several months.

Officials noted that the government plans to deploy additional Korean-flagged vessels to the Red Sea port of Yanbu in phases to further stabilise imports, despite risks such as potential threats from Houthi rebels in the region.

The successful transit highlights growing global shifts in energy logistics, as import-dependent nations adapt to disruptions in traditional shipping routes caused by the ongoing Middle East conflict.

South Korea, which relies heavily on Middle Eastern oil, continues to explore bypass options, including discussions on alternative pipelines and storage facilities, to ensure uninterrupted energy flows and protect its economy from volatility.

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International

BBC to Cut 2,000 Jobs in Biggest Downsize in 15 Years

The corporation announced a £600 million cost-cutting plan in February, saying that it would involve a reduction in headcount and the end of some programming.

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The BBC is to cut as many as 2,000 jobs in the biggest downsizing of the public service broadcaster in 15 years.

Staff were informed of the cuts, which will affect about 10 percent of the BBC’s 21,500 employees, at an all-staff meeting on Wednesday afternoon, the Guardian UK reported yesterday.

The round of job losses, the biggest at the BBC since 2011, is being set in motion before the former top Google executive Matt Brittin takes over as director general next month.

The corporation announced a £600 million cost-cutting plan in February, saying that it would involve a reduction in headcount and the end of some programming.

Tim Davie, the outgoing director general, said at the time that the BBC would need to cut 10 per cent of its approximately £6 billion annual cost base over the next three years.

Davie left the BBC on April 2, having announced his resignation in November after controversy over coverage of issues including Donald Trump, Gaza and trans rights.

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