WTO Accepts Libya as Candidate for Membership
On July 27, 2004, the World Trade Organization's (WTO) General Council agreed to set up a Working Party to examine Libya's accession to the WTO. Establishing a Working Party is the first stage in the WTO membership process. Libya joins 24 other countries involved in WTO entry negotiations, including Saudi Arabia, the Russian Federation, Ukraine, Lebanon, Serbia and Montenegro. However, it will be many years before Libya becomes a WTO member. For example, the Working Parties for Saudi Arabia and the Russian Federation were established in 1993 and each country's accession process is incomplete.