Trade signed a joint document with the Kurdistan region to complete the files of Iraq's accession to the World Trade Organization

[Floridian]

The exchange rate is a key determinant of  international trade. When a company in one country wants to import goods from a company in another country, it typically must pay for the exporting either in that country’s currency or in the currency of one of the world’s major economies. These currencies– the United States dollar, the European euro, the British pound sterling, the Japanese yen, and the Swiss franc–are collectively known as hard currencies. Most countries do not use a hard currency in their domestic economy; you could not use them to buy a Big Mac in Thailand or a soda in Russia.  In order to participate in the international economy, however, countries must have some stock of a hard currency.

 

http://www.globalization101.org/currencies-and-exchange-rates/

[Integrativedoc]

31 minutes ago, Floridian said:

The exchange rate is a key determinant of  international trade. When a company in one country wants to import goods from a company in another country, it typically must pay for the exporting either in that country’s currency or in the currency of one of the world’s major economies. These currencies– the United States dollar, the European euro, the British pound sterling, the Japanese yen, and the Swiss franc–are collectively known as hard currencies. Most countries do not use a hard currency in their domestic economy; you could not use them to buy a Big Mac in Thailand or a soda in Russia.  In order to participate in the international economy, however, countries must have some stock of a hard currency.

 

http://www.globalization101.org/currencies-and-exchange-rates/

Thanks Floridian. That answers the question. They continue to buy and sell in USD as long as they desire. I forget the name of the currency law they must adopt to not function with a dual currency system. That is what we should be watching for IMO.

[3n1]

46 minutes ago, Floridian said:

The exchange rate is a key determinant of  international trade. When a company in one country wants to import goods from a company in another country, it typically must pay for the exporting either in that country’s currency or in the currency of one of the world’s major economies

 

thanks floridian , i brought this up in a past thread a question was asked does iraq need to RV or have a improved currency rate to engage in international trade ? so heres the scenario iraq wants to sell a couple of tons of dates to europe according to the article Europe can either pay in iraqs official currency the IQD or in one of the accepted world currencies , if i were europe i would go with the one thats valued at 2 tenths of a penny , IMO this is why Iraq needs a competitive currency for international trade or they will continue to lose in a big way globally .. cheers   

[BETTYBOOP]

2 hours ago, presence said:

Botswana,

 

I wish this thing would hit this month -and even tonight - for personal reasons. However, I intuitively think it will be in May and no later than July. I base the latter dates on forms of energy testing, which I use every day all day  all day long, in other areas of life. The key to getting the correct answer is being quiet and aware  enough, to 'hear' it, and making sure to focus on asking the right question.

 

It's a simple process that becomes overly complex uf too much emotion or volatility gets in the way.Comolivating my perception is the fact that my real estate fraud trial goes back to court this month for a re-trial in the State Of Connecticut. The GoFund Me Campaign entitled "Help two Victims Of Real Estate Fraud" tells the story in case you're intetested.

.

Sorry to get off track - I just wanted to explain the personal challenge with nailing the date down...all in all, I don't see this going through the end of July and am pretty certain it's going to hit before then 

I agree. My energy tells me the same thing. July at the latest.

[davis411]

1 hour ago, BETTYBOOP said:

I agree. My energy tells me the same thing. July at the latest.

Well been a while

going blind

i miss alot

not that smart

 

glad to see u back

dont forget to vote for me

[BETTYBOOP]

12 minutes ago, davis411 said:

Well been a while

going blind

i miss alot

not that smart

 

glad to see u back

dont forget to vote for me

Hi davis411, Great to be back. Just needed a break from it all and life has been a wee bit mental.😂😂

[davis411]

25 minutes ago, BETTYBOOP said:

Hi davis411, Great to be back. Just needed a break from it all and life has been a wee bit mental.😂😂

Friends can call me davis

 

or mr prez 

your choice 

 

lol glad your back

hopefully for the final show

[Mxmann]

2 hours ago, BETTYBOOP said:

I agree. My energy tells me the same thing. July at the latest.

Okayyy!  I can wait til July!!!  I too have a feeling we are there, as soooo much has actually been, and is being accomplished, with a strong sense of (never before) urgency!!!  

[ChuckFinley]

7 minutes ago, Mxmann said:

Okayyy!  I can wait til July!!!  I too have a feeling we are there, as soooo much has actually been, and is being accomplished, with a strong sense of (never before) urgency!!!  

July works for me. Lets get this done.  

[DinarThug]

From The WTO Site ...

 

 

 

WTO accessions

Any state or customs territory having full autonomy in the conduct of its trade policies may become a member (“accede to”) the WTO, but all WTO members must agree on the terms. This is done through the establishment of a working party of WTO members and through a process of negotiations.

https://www.wto.org/english/thewto_e/acc_e/acc_e.htm

ACCESSIONS IN PROGRESS

Algeria

Andorra

Azerbaijan

Bahamas

Belarus

Bhutan

Bosnia and Herzegovina

Comoros

Equatorial Guinea

Ethiopia

Iran

Iraq

Lebanese Republic

Libya

Sao Tomé and Principe

Serbia

Somalia

South Sudan

Sudan

Syrian Arab Republic

Timor-Leste

Uzbekistan

Edited April 8, 2018 by DinarThug

[ChuckFinley]

Thanks Thug - starting my morning with you.  

[climber7]

7 hours ago, DinarThug said:

 

ACCESSIONS IN PROGRESS

 

So not truly a full member yet 

[magawatt]

On 4/6/2018 at 10:26 PM, DoD said:

Another article states that Iraq is years from being a full member of the WTO. Biggest problem is they export 0, nothing...Lucky for us becoming a member of the WTO has 0 to do with the RV....Great reading though. 

Oil doesn't count as an export?

[danielchu]

Iraq is the world´s seventh biggest producer and exporter of oil. Shipments of crude oil account for 99 percent of total exports. Main export partners are: United States (25 percent of total exports), India (14 percent), China (12 percent) and South Korea (9 percent). Others include: Italy, Japan, France and Syria. This page provides - Iraq Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraq Exports - actual data, historical chart and calendar of releases - was last updated on April of 2018.

https://tradingeconomics.com/iraq/exports

Edited April 8, 2018 by danielchu

[ChuckFinley]

8 minutes ago, danielchu said:

Iraq is the world´s seventh biggest producer and exporter of oil. Shipments of crude oil account for 99 percent of total exports. Main export partners are: United States (25 percent of total exports), India (14 percent), China (12 percent) and South Korea (9 percent). Others include: Italy, Japan, France and Syria. This page provides - Iraq Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraq Exports - actual data, historical chart and calendar of releases - was last updated on April of 2018.

https://tradingeconomics.com/iraq/exports

Thanks Danielchu for the info. Never hurts to have data to work from.

[Theseus]

This topic was brought up last year when Iraq met with the WTO in some EU country (Switzerland or Netherlands?). I brought the chart up back then as well. They have not moved in the process since then and have many many steps to go before becoming a full-fledged member. Another give away this is happening in the future is the article uses future tense meaning soon, sometime in the future Iraq will be a full member of the WTO but not today or the near future (unless you use the Iraqi definition of "near" which is akin to their definition of "soon").

[DoD]

1 hour ago, danielchu said:

Iraq is the world´s seventh biggest producer and exporter of oil. Shipments of crude oil account for 99 percent of total exports. Main export partners are: United States (25 percent of total exports), India (14 percent), China (12 percent) and South Korea (9 percent). Others include: Italy, Japan, France and Syria. This page provides - Iraq Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraq Exports - actual data, historical chart and calendar of releases - was last updated on April of 2018.

https://tradingeconomics.com/iraq/exports

magawatt, this should answer your question. 99 percent of total exports reenforces my previous statement about Iraq exports 0, nothing. I'm not counting the 1 percent of dates, corn, sugarcane that they deliver to Iran or Jordan....

Theseus I remember your post on this topic an totally agree, it could still be a year away from membership. Iraq has been an observer member for years now but needs to finish some laws an economic problems...

[10 YEARS LATER]

6 hours ago, climber7 said:

 

So not truly a full member yet 

 

Yes indeed "7" - I commented a few minutes ago in another thread; They say that something is done, when in reality it's still a work in progress. Its duplicitous and misleading, however, " It's What They Does " They'll get there - SOON. 

 

the waiting continues 

[ChuckFinley]

At least you did not say "in the coming days". 

[10 YEARS LATER]

3 hours ago, ChuckFinley said:

At least you did not say "in the coming days". 

 

It did cross my mind . . . However, I didn't want to appear to be a real " Richard " about it. 

Edited April 8, 2018 by 10 YEARS LATER

[ChuckFinley]

1 minute ago, 10 YEARS LATER said:

 

It did cross my mind . . . However, I didn't want to appear to be a real " Richard " about it. 

That is to funny. Have to have a sense of humor with this investment.  

[nannab]

1 minute ago, ChuckFinley said:

That is to funny. Have to have a sense of humor with this investment.  

 

Big time !!!!!! 

[10 YEARS LATER]

18 minutes ago, ChuckFinley said:

That is to funny. Have to have a sense of humor with this investment.  

 

Ain't it the truth . . . That, and the nearby Gun Shop what has an Indoor Firing Range for me to work out my Blinding Rage on.  

[ChuckFinley]

33 minutes ago, 10 YEARS LATER said:

 

Ain't it the truth . . . That, and the nearby Gun Shop what has an Indoor Firing Range for me to work out my Blinding Rage on.  

Ah therapy, like it.  

[Theseus]

4 hours ago, ChuckFinley said:

At least you did not say "in the coming days". 

We may not know when "in [the] coming days" but we all know "Winter is Coming".