WTO membership and globalization

Devel­op­ing economies want both glob­al­iza­tion and WTO mem­ber­ship as soon as pos­si­ble. Thir­ty years ago I was post­ed to Algiers as a young diplo­mat to help open the Aus­tralian mis­sion (lat­er closed). This sort of thinking—from the Pres­i­den­t’s adviser—would have been a trea­son­able offense, then. bq. Our econ­o­my is based too much on hydro­car­bons. We must diver­si­fy our econ­o­my. If not, Alge­ria will become lost in the glob­al mar­ket­place,” Abdel­hamid Tem­mar, chief eco­nom­ic coun­sel to Pres­i­dent Abde­laz­iz Boute­flila, said last week dur­ing meet­ings with finance and trade lead­ers in Wash­ing­ton. “We have to reform our bank­ing sys­tem. We have to open our land mar­kets for for­eign invest­ment. And we have to pro­mote the pri­vate sec­tor, which ‚Äî quite frankly ‚Äî is dis­ap­point­ing­ly too small.”
(“Mid­dle East Africa Finan­cial Network”:http://www.menafn.com/qn_news_story_s.asp?StoryId=71612) Alge­ria has kicked-off what it hopes are a final round of nego­ti­a­tions on its acces­sion to WTO, tar­get­ing entry in 2005.

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