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Workshop on the WTO Accession of Iraq


DinarThug
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On 11/19/2017 at 6:47 AM, yota691 said:

Experts for the «morning»: reforms bring Iraq closer to the World Trade Organization

   
 

 
 The expert expected that Iraq will join the Organization during the next five years, provided it continues to implement reforms, and the promotion of productive sectors such as industry and agriculture.

 

This is because Iraq is following the multilateral path and on that path they are one step above the formation of the Worker Party which has around 6 more steps to go (given info from the WTO site for Iraq). In the next five years sounds about right. Although one may be tempted to just say "Soon..." 

Edited by Theseus
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On ‎11‎/‎19‎/‎2017 at 4:43 AM, soccercrazy said:

Indonesia too sir

 

On ‎11‎/‎19‎/‎2017 at 4:43 AM, soccercrazy said:
On ‎11‎/‎16‎/‎2017 at 7:23 PM, Donziman said:

I hate to burst bubbles but Vietnam became a member of WTO in jan 2007

and they still have worthless paper money.

Indonesia too sir

The accession process of this international organization may extend for several years, as well as the stage following the acquisition of membership may raise many important issues and effects and serious challenges that require attention and knowledge and skill in dealing with them

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On 11/16/2017 at 9:23 PM, Donziman said:

I hate to burst bubbles but Vietnam became a member of WTO in jan 2007

and they still have worthless paper money.

Conversion of Vietnamese dong into hard currency no longer requires foreign exchange approval and Vietnam abolished foreign exchange surrender requirement in 2003.  The Law on Investment allows foreign investors to purchase foreign currency at authorized banks to finance current and capital transactions and other permitted transactions.  The availability of foreign exchange has been an intermittent problem since mid-2008 largely because of persistent balance of trade deficits.

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How to join the WTO: the accession process

Any state or customs territory having full autonomy in the conduct of its trade policies may join (“accede to”) the WTO, but WTO members must agree on the terms. Broadly speaking the application goes through four stages:

redbulle.gif First, “tell us about yourself”.

The government applying for membership has to describe all aspects of its trade and economic policies that have a bearing on WTO agreements. This is submitted to the WTO in a memorandum which is examined by the working party dealing with the country’s application. These working parties are open to all WTO members.

redbulle.gif Second, “work out with us individually what you have to offer”.

 When the working party has made sufficient progress on principles and policies, parallel bilateral talks begin between the prospective new member and individual countries. They are bilateral because different countries have different trading interests. These talks cover tariff rates and specific market access commitments, and other policies in goods and services. The new member’s commitments are to apply equally to all WTO members under normal non-discrimination rules, even though they are negotiated bilaterally. In other words, the talks determine the benefits (in the form of export opportunities and guarantees) other WTO members can expect when the new member joins. (The talks can be highly complicated. It has been said that in some cases the negotiations are almost as large as an entire round of multilateral trade negotiations.)

redbulle.gif Third, “let’s draft membership terms”.

Once the working party has completed its examination of the applicant’s trade regime, and the parallel bilateral market access negotiations are complete, the working party finalizes the terms of accession. These appear in a report, a draft membership treaty (“protocol of accession”) and lists (“schedules”) of the member-to-be’s commitments.

redbulle.gif Finally, “the decision”.

The final package, consisting of the report, protocol and lists of commitments, is presented to the WTO General Council or the Ministerial Conference. If a two-thirds majority of WTO members vote in favour, the applicant is free to sign the protocol and to accede to the organization. In many cases, the country’s own parliament or legislature has to ratify the agreement before membership is complete.

https://www.wto.org/english/thewto_e/whatis_e/tif_e/org3_e.htm

Current status in the accession process

Click here to see the image below full size
 

https://www.wto.org/english/thewto_e/acc_e/a1_iraq_e.htm#status

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Iraq, November 23, 2017 

At an informal meeting of the Working Party on the Accession of Iraq held on 17 November 2017, WTO members welcomed Iraq’s stated determination to resume its WTO accession process after nine years of dormancy. The meeting further provided the opportunity for the government of Iraq and members to exchange views on next steps for that formal resumption in the near term.

Mr Adel Al-Masoodi, Director-General of the Foreign Economic Relations Department of the Ministry of Trade and Vice Chairman of the Iraqi National Committee on Accession to the WTO, said:

“We are here with you at the headquarters of the World Trade Organization to assure you that Iraq is fully committed to the process of economic reform and to be part of the global economic system.

“We look forward to opening new horizons for co-operation with the WTO, all international organizations and the international community.“

Ambassador Mouayed Saleh, Permanent Representative of Iraq in Geneva, also spoke on behalf of the Iraqi delegation. He said that Iraq is at the beginning of a long and complex WTO accession process “which will take years“, but he highlighted the firm and unequivocal will of the government and the people of Iraq to move forward and become an integral part of the international economic and trading system, following a very difficult time in Iraq’s recent history.

Indeed, Ambassador Saleh underlined that the main reason that Iraq’s formal accession process had fallen dormant had been the need for Iraq to focus on improving the security situation in the country in recent years.

The Iraqi delegation in Geneva included other high-level officials from the Ministry of Trade, the Council of Ministers, the State Commission for Customs, the Ministry of Planning, and the Central Bank of Iraq.

businessnews

 

http://iraqdailyjournal.com/story-z16261469

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IMO, NOT a requirement to an RV/RI.  This confirmation of intent is indeed, a very, very important step AND, quite a positive move in the right direction.

 

Some in dinarland thought that Iraq's much anticipated accession to the WTO would be a major sign that our ship was finally coming in - but I believe this is in no way is anything less.  It is not needed in order to change the value of the currency, as there are members with less stability and currency values less than Iraq.  

 

The fact that they are "picking up the ball and running with it" at this time, after all of these years of dormancy, is definitely a "sign" that SOMETHING is really happening!

Edited by fnbplanet
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  • 1 month later...

Ministry of Trade announced its delegation of the National Committee on the accession of Iraq to the World Trade Organization (WTO) in Geneva for a series of consultative meetings with specialists in this area

Picture

Mr. Adel Khudair Abbas Director General of Foreign Relations Department/head of the delegation and vice chairman of the National Committee on Iraq`s accession to the World Trade Organization WTO on behalf of the Minister of Trade Dr. Salman Al-Jumaili, said that the delegation included the Acting director General of the General Authority for free Zones , the Director General of the Central Organization for standardization and Quality Control and the adviser of Central Bank of Iraq and the official employees of the accession files to the WTO.
Adding that the delegation had held a series of meetings with experts at the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO).
Mr.Adel said that the efforts of the government to join the World Trade Organization continues and leaded by National Committee (the national team) to join the organization, which is headed by the Minister of Trade and includes in its membership several representatives of the concerned ministries , he also pointed that the World Trade Organization history and the experiences of countries that joined the organization thro the process of negotiation confirmers that our process may as well extend for several years, as well as the stage following the acquisition of membership may raise many important issues and challenges which requires a serious attention, knowledge, skills in dealing with it and predicting the them by the State And its negotiating team due to Iraq economic implication that will applied by the legal obligations and comprehensive detailed reforms.
Iraq was accepted as an observer member of the organization in 2004 and the membership to the organization needs to full fill several legal and legislative procedures and change other laws in line with the laws of the WTO, which is composed of 160 countries and 21 observer member States

http://www.mot.gov.iq/

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