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GGGI receives third approval and will become an international
organization in October
Seoul, Republic of Korea – Today, the Republic of Kiribati became the third country to confirm its approval of the conversion of the Global Green Growth Institute (GGGI) into an international organization. Kiribati’s approval follows ratification by the governments of the Denmark and Guyana of the Agreement on the Establishment of the GGGI and ensures the GGGI will become an international organization in October 2012.
Under international law, three countries must ratify the treaty to convert the GGGI into an international organization. In June this year, 16 countries signed the Establishment Agreement at a ceremony in Rio de Janeiro. Indonesia became the seventeenth country to join by signing the Agreement on September 17. The Establishment Agreement takes effect 30 days after deposit of the third instrument of ratification.
Korea’s Ambassador for Green Growth Boonam Shin confirmed that GGGI received the letter of ratification from the government of the Republic of Kiribati on Tuesday, September 18. He added that Kiribati’s ratification represents a significant milestone for the Institute as it now is on track to become an international organization to be headquartered in Korea.
As a result of Kiribati’s ratification, the Agreement on converting GGGI into an international organization will officially enter into force on October 18, 2012.
Denmark was the first country among the 16 signatories to approve GGGI’s conversion into an international organization in August and in a matter of a month, two additional signatories – the Cooperative Republic of Guyana and the Republic of Kiribati – joined to put the Agreement into force.
The remaining 13 signatory countries are currently undergoing the ratification or approval process. These include
Australia, Cambodia, Costa Rica, Ethiopia, Korea, Norway, Papua New Guinea, Paraguay, the Philippines, Qatar, the UAE, the United Kingdom, and Vietnam.
GGGI will scheduled to hold a Signatories Meeting in Seoul, Korea on Thursday, September 20, inviting the 17 signatories to discuss agenda items ahead of the Inaugural Meetings of the Assembly and the Council to be held later this year.
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