Preparations for the 4th meeting to join the World Trade Organization
The Ministry of Trade intends to hold the fourth meeting of the Iraq Task Force as part of preparations for Iraq’s accession to the World Trade Organization.
Ministry spokesman Mohammed Hanoun told Al-Sabah: “The Ministry of Commerce activated the accession process through several axes, the most important of which was holding the third meeting of the Iraq task force, which was held in July of last year, 16 years after the second meeting.” He noted that “preparations are underway to hold the fourth meeting this year.”
He added, “The Ministry has prepared a focus area for updating files on goods, services, intellectual property, and agriculture, which have been completed in accordance with WTO standards, and sending them for negotiation.”
Hanoun explained that “technical work is underway with ministries and the Kurdistan Region to update the coordinated customs system from 2017 to 2022 and update the legislative plan for the laws.”
For his part, economic expert Nabil Jabbar Al-Tamimi said, “There are benefits that Iraq will gain by joining the World Trade Organization, in addition to the obligations that it will face.”
Al-Tamimi told Al-Sabah: “Iraq could gain benefits by joining the organization, most notably economic integration with member states, participation in reducing taxes and fees, and easing restrictions on exported goods, in addition to trade disputes that the organization could intervene to resolve.”
He continued: “Legislation and laws must be passed that are consistent with the goals of the World Trade Organization, and there must be a suitable environment for foreign investment and freedom.” He explained that “one of the obligations that Iraq could impose is opening local markets to imported goods and lifting restrictions on them,” noting that “such an obligation would restrict Iraq’s attempts to restore Iraqi industry to its former glory,” as he put it.
Al-Tamimi stressed that “it is better for Iraq to be an observer in the organization than to join it, because the obligations it would entail are very harsh.”
Minister of Trade Athir Al-Ghurairi said in a press statement last week that “Iraq has made significant progress in its accession process to the World Trade Organization,” stressing that “the national team responsible for completing accession requirements has completed responses to more than 450 technical questions submitted by WTO members, reflecting Iraq’s serious commitment and transparency in addressing the requirements of this important international process.”
He added, “The national team is fully prepared for the next round of meetings with the organization’s General Secretariat and working group members, and will represent Iraq with a unified position based on a national economic vision that seeks disciplined integration into the global economy.”
He pointed out that “joining the World Trade Organization constitutes a strategic step to support the business environment, stimulate investment, and develop productive sectors, particularly industrial and agricultural sectors, thus enhancing Iraq’s economic standing regionally and internationally.”
He continued, “The Ministry, in coordination with relevant ministries and institutions, will continue its technical and diplomatic efforts to ensure the best results in the service of the supreme national interest.”
Alsabaah.iq