Wednesday 18, November 2020 23:46 | Economical
Baghdad / NINA / – The Minister of Trade, Alaa Ahmed Al-Jubouri, said: Joining the World Trade Organization is the way to build a vibrant Iraqi economy.
A statement by the Ministry stated that: Al-Jubouri chaired the 34th meeting of the National Committee for Iraq’s accession to the World Trade Organization to discuss the stages of Iraq’s accession and the most important technical files that were completed during the past years, including the file of the memorandum of the foreign trade system for Iraq, the file of goods, services, intellectual property and the implementation plan.
The statement added: The challenges facing the accession process were also discussed and led to impeding the accession process as required, in addition to discussing practical and professional solutions that would reduce the impact of these challenges.
Al-Jubouri stressed the need to clarify the importance of Iraq’s accession to the organization as it allows the establishment of a balanced trading system in addition to raising the standard of living, creating job opportunities, and eliminating unemployment through the development of investments, development of real income and increased production.
He considered this file one of the important files that contributes to comprehensive economic reforms.
During the meeting, five important items were discussed and in accordance with the requirements of the current stage and preparation for holding the third round of negotiations with the organization, which are the foreign trade policy memorandum for Iraq, goods files, the implementation plan for Iraq , the trade in services and service sectors completed, and the intellectual property file.
It is noteworthy that Iraq was accepted as an observer member in the organization in 2004, which comes as a prelude to full accession, as this period of time allows acquaintance with the agreements that the World Trade Organization supervises their application and which form part of the multilateral trading system./ End