Azerbaijan pushes for early WTO membership following key talks with China

Azerbaijan is accelerating its efforts to join the World Trade Organization (WTO) following the first round of bilateral negotiations with China on January 13-14, 2025.

The discussions, held in Baku, centred around trade in goods and services, with both sides making headway on various key aspects of the accession process, Caliber.Az reports citing local media.

The two-day talks resulted in agreements that would fast-track the negotiation process and support Azerbaijan's ambition to secure early membership in the WTO.

Azerbaijan, which applied for WTO membership back in 1997, has long sought to join the global trade body. The process of accession typically spans several years, requiring extensive negotiations on market access, trade regulations, and other critical areas. However, in recent months, the process has gained momentum. This is reflected in the 16th meeting of the WTO Working Party on Azerbaijan's accession held on September 26, 2024. The meeting injected renewed energy into the accession process, especially following the appointment of a new chief negotiator. During the discussions, WTO members praised Azerbaijan's recent reform initiatives, emphasizing the need for continued progress in both regulatory and market access negotiations.

Despite its prolonged application, Azerbaijan's WTO accession is seen as a significant step in diversifying its economy and integrating more fully into the global trading system. The WTO's role in overseeing global trade, including regulating market access and resolving disputes, is crucial for Azerbaijan as it seeks to enhance its trade relations with the rest of the world.

The WTO, founded on January 1, 1995, as the successor to the General Agreement on Tariffs and Trade (GATT), currently consists of 164 member countries, accounting for more than 98% of international trade. This body ensures that trade flows smoothly and predictably, offering a platform for members to negotiate trade agreements and address disputes.

As the negotiations continue, both Azerbaijan and China are committed to advancing the process swiftly, reflecting Azerbaijan's determination to join the international trading community and strengthen its global economic partnerships.

By Tamilla Hasanova