EU, Afghanistan sign deal on WTO accession

The EU and Afghanistan Monday signed a deal concluding their bilateral negotiations on Afghanistans accession to the World Trade Organisation (WTO) in Geneva. "I am convinced that WTO membership will help Afghanistan's stabilisation and economic development," said EU Trade Commissioner Karel De Gucht, in a statement here today. "Kabul has continuously highlighted its commitment to speeding up its WTO accession process and today's signature in Geneva is a milestone in this respect," he added. The EU is one of Afghanistan's main trading partners, accounting for almost 9 percent of its exports and 12 percent of its imports. In 2012 the total value of EU goods exported to Afghanistan was 935 million euro (USD 1.2 billion), while imports from Afghanistan amounted to 56 million euro (USD 76.3 mn). Afghanistan mainly supplies the EU market with skins and leather products, fruits/nuts, but also electronic products, which together represent more than 50 percent of its exports to the EU. The main EU exports to Afghanistan are vehicles, mineral fuels, machinery and electrical equipment.