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International trade

Iraq Takes Significant Step Towards Joining World Trade Organization

Strategic Insights

— 1 min read

In a significant development, Iraq's accession to the World Trade Organization (WTO) is gaining momentum, with key stakeholders expressing optimism about the country's prospects of membership. The Minister of Trade, Atheer Dawood Al-Ghurairi, met with the WTO's Director-General, Ngozi Okonjo-Iweala, in Geneva to discuss the latest developments in Iraq's accession process. The meeting marked a major step forward in Iraq's efforts to integrate into the global trading system.

Key Takeaways:

  • Iraq's accession to the WTO has been in the works for about sixteen years, with the National Accession Committee, chaired by the Minister of Trade, making significant progress in preparing the required documents and reports.
  • Iraq has committed to completing all technical and legislative requirements to ensure full membership in the WTO, with a focus on enhancing cooperation and coordination with the organization and its member states.
  • WTO Director-General Ngozi Okonjo-Iweala praised Iraq's commitment to accession, highlighting the country's economic potential and strategic location as a significant addition to the global trading system.
  • The accession process is underway, with a fourth meeting on Iraq's accession expected to take place soon.
  • Iraq's accession would mark the country's first major step towards integration into the global economy in about sixteen years.
  • Minister Al-Ghurairi emphasized the importance of completing the accession process to enhance Iraq's economic ties with other nations.

Statistics:

  • Sixteen years: the duration of Iraq's efforts to join the WTO
  • Four meetings: the number of meetings scheduled to discuss Iraq's accession to the WTO
  • 4th meeting: the next scheduled meeting on Iraq's accession, expected to take place soon
  • 16 years: the duration since Iraq's last significant economic integration efforts

Sources:

  • National Iraqi News Agency (NINA) about the meeting between Minister Atheer Dawood Al-Ghurairi and Director-General Ngozi Okonjo-Iweala
  • No explicit source provided for the 16-year duration of Iraq's accession efforts.

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