5 May 2011

WTO membership offers reassurance to investors in Vanuatu

8:53 am on 5 May 2011

World trade organisation membership for Vanuatu is expected to reassure investors who may be jittery about political instability in the country.

Vanuatu's been given the green light to join the WTO after fifteen years of negotiations and the legislature has six months to ratify a package of trade measures.

A Policy and Economic Officer with Vanuatu's Department of Trade and Industry, Andrea Giacomelli, says once a country joins the WTO it's very difficult to change the trade regime.

"This can of course build an interest for investors that want to invest in a country because they will be reassured that in terms of investment framework and export taxes, the situation will be stable so they will be able to do their budgeting."

Andrea Giacomelli says WTO membership will give Vanuatu a bigger voice on issues like the ban on kava in some European countries.