Iraq plans to join World Trade Organization
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Sulaiman
- . June 16, 2023
- . Update: June 16, 2023 8:04 pm
Iraq, a country in Western Asia, has planned to join the World Trade Organization (WTO), an intergovernmental organization that deals with the global rules of trade between countries.
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On Thursday, the Iraqi Ministry of Trade said that the government was planning to complete the requirements for Iraq’s accession to the World Trade Organization.
According to the Iraqi Ministry of Trade, the Iraqi authorities are currently working to complete the requirements for joining the WTO. Iraq’s General Customs Authority has been coordinating with the Iraqi Ministry of Trade to complete the modernization of the customs system and finalize the Tariff Law in order to join the WTO.
According to the Iraqi News Agency (INA), the Iraqi private sector and the Kurdistan region of Iraq are also coordinating with each other for Iraq’s accession to the WTO.
Earlier this year, Iraq announced its strategies to complete the requirements to join the World Trade Organization. Iran’s plan and strategy include completing technical accession files in terms of goods, services, and intellectual property, as well as coordinating legislation and laws with the agreements of the multilateral organization.
The Iraqi ministry also said that it would hold meetings at the WTO’s headquarters in Geneva, a city in Switzerland, and coordinate with the member states to enhance the accession procedures to make Iraq an active member of the WTO. Iraq also aims to be a partner in economic decisions and trade policies.
The World Trade Organization effectively cooperates with the United Nations System. It enforces the rules that govern international trade. It is the world’s largest international economic organization, with 164 member states. It represents more than 98% of global trade and global GDP. It also supervises and liberalizes world trade.
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Meanwhile, the WTO has provided additional time to its Dispute Settlement Body (DSB) to adopt the ruling of the WTO panel against the Republic of India.
