This paper analyses countries' responses to the FAO's International Treaty on Plant Genetic Resources for Food and Agriculture. The treaty establishes a system of multilateral exchange of plant genetic resources and equitable benefit-sharing. By estimating a multinomial logit model the paper shows that a country with less dependency on foreign genetic resources and higher per capita GDP is likely to sign and ratify the treaty. In addition, the paper takes into account the ordering of ratification by estimating various forms of survival analysis. The results show that the level of dependency is the most significant factor that affects the timing of ratification or accession. Again, a country less dependent on foreign genetic resources is likely to ratify the treaty represents mainly the interests of centers of diversity not those of developed countries wihich possess most of the property rights on the developed seeds. The estimated models predict that Korea has to ratify the treaty nolater than early months of 2006.