Economist: Iraq needs for the development of all economic sectors to enter WTO
Date: Tuesday, 17-07-2012 09: 59 am
Baghdad (News) … A. the star suggested Economist, economic Conference on the possibility of Iraq’s entry into the World Trade Organization and identify mechanisms to join, Noting that the terms of accession requires development in all economic sectors.
He said the star (News Agency news) on Tuesday that Iraq needs approximately (10-15) in order to be eligible for membership in the World Trade Organization (WTO) as a result of poor infrastructure and increase the production cost and the scarcity of raw materials within the domestic industry, as well as the vulnerability of local products to foreign competition.
He added: the enlarged economic Conference of experts and specialists in the economic field to discuss how Iraq’s accession to the WTO and international gains through the development of mechanisms and plans for the advancement of economic sectors and create sustainable development in the country.
He noted: the WTO recognize the competition and said Iraq lacked domestic goods that can compete with foreign goods, due to the suspension of the treatment of industrial and deteriorating infrastructure.
The WTO was established in 1995 and is one of the smallest age global organizations, is the successor of the General Agreement on tariffs and trade (GATT), which was established in the aftermath of the second world war, with the primary objective to help trade flow and force the strings and freedom, and the WTO’s membership includes more than 140 members representing over (90%) Of world trade.