The Seychelles on Wednesday sealed its entry to the World Trade Organization, the Geneva-based body whose 160 members set the rules of global commerce.
The Indian Ocean island, which has spent nearly 20 years negotiating to join, will automatically become the organisation`s 161st member in 30 days.
"Joining the WTO ensures that we are not bystanders while global processes are shaped and directed by others," Seychelles President James Michel said after signing a protocol for accession to the body, approved the previous day by parliament.
"It ensures that we can create more opportunities for our people while also defending their right to development," he said.
WTO entry negotiations can take several years because aspirants are required to strike deals with a range of individual economies already inside the organisation, before such accords are folded into one overarching entry package.
The WTO`s member economies craft trade rules among themselves in an attempt to ensure a level playing field and spur growth by opening markets and removing trade barriers, including subsidies, excessive taxes and regulations.
But bitter differences have meant that they repeatedly have failed to conclude their Doha Round of trade liberalisation talks, launched in 2001 with the stated goal of harnessing trade to underpin development in poorer nations.
Tourism and fisheries are the main pillars of the island nation`s economy, with the main export being canned tuna destined mainly for the European market.
Seychelles also depends heavily on food imports with up to 90 percent of goods consumed coming by air and sea cargo.
