TEHRAN, Iran — “Now that years of intensive negotiations have finally cleared all the misunderstandings around Iran's nuclear activities, we are taking the next step toward integrating more deeply into the global economy. … Finalizing WTO membership is therefore a priority for the Iranian government,” said Industry Minister Mohammad Reza Nematzadeh at a ministerial meeting of the World Trade Organization (WTO) in Nairobi late last year.
Unlike the UN Security Council, in which only the five permanent members wield veto power, any decision at the WTO must be approved by all member states. This means that even the objection of a single state effectively results in a veto.