Iraq In Advanced Position Paving The Way For Completion Of The WTO Requirements For Full Membership."

[Luigi1]

Here's an article of Dinarian interests...

Direct from The SANDBOX Report.

Iraq in advanced position paving the way for the completion of the WTO requirements for full membership."

Treat as a rumor.  Not verified.  Your opine.

 

 

FROM IRAQI SOURCES:   Iraq's Accession To The World Trade Organization (WTO) Is Proceeding Steadily & Carefully.

ARTICLE: The Ministry of Trade announced on Monday that Iraq's accession to the World Trade Organization (WTO) is proceeding steadily & carefully.  While indicating the completion of seven major files, it confirmed the preparation of accurate answers to 175 questions related to Iraq's accession to the organization.

 

The ministry's spokesman, Mohammed Hanoun, said in a statement to the official agency, followed by Mawazine News, that "the current government's efforts to secure Iraq's accession to the World Trade Organization (WTO) have surpassed all previous measures combined," noting that "Iraq resumed the accession process after a long hiatus, as the 3rd meeting of the working group concerned with accession was held in July 2024, during which updated documents related to the Iraqi trade system were submitted."

He added that "Iraq has completed all the technical files required to join the WTO after a negotiation process that extended for more than twenty years during which Iraq faced many challenges & delays," noting that "this achievement was achieved during the term of the current government through intensive qualitative efforts that exceeded what was achieved in the previous stages combined & that Iraq is now in an advanced position paving the way for the completion of the requirements for full membership."

Hanoun explained that "the national team concerned with accession, in coordination with the relevant ministries & sectoral bodies & in partnership with int'l institutions, has completed the review and update of all technical files, which included the foreign trade system memorandum, the legislative implementation plan, agricultural support schedules, the import licenses & customs valuation file, the sanitary & phytosanitary (SPS) files, and technical barriers to trade (TBT)."

He continued: "The team prepared accurate answers to (175) questions & inquiries submitted by the member states of the organization, while the Iraqi customs system was updated to the latest version in line with international standards & enhances Iraq's readiness for the next stages," indicating that "the files will be officially submitted to the WTO Secretariat through diplomatic channels in preparation for the next meeting of the working group."

Hanoun explained that "what has been achieved is the result of the government's great support & continuous coordination with all ministries & national institutions, as well as the efforts of the Department of Foreign Economic Relations in leading this strategic path to strengthen Iraq's position in the global trading system, serve its nat'l economy & achieve sustainable development."

 

He pointed out that "over the past months, the ministry has held workshops and training programs to develop national cadres involved in negotiating & managing the file, with the participation of the Council of Representatives & the private sector.  Technical meetings have also resumed to complete the discussion of agendas related to trade in goods & services."

Hanoun emphasized that "accession to the WTO represents a strategic step towards integrating the Iraqi economy into the int'l trading system, attracting investments & improving the competitiveness of nat'l exports."

 

He pointed out that "the accession process is subject to multilateral international negotiation procedures &d varies from one country to another according to the completion of legislation and reforms.  However, Iraq is committed to accelerating this process to achieve the nat'l interest & preserve the sovereignty of economic decision-making."

[Luigi1]

Here's another article related to the above...

 

 

FROM IRAQI SOURCES:  Oil Prices Decline Slightly Amid Anticipation Of The OPEC+ Meeting.

ARTICLE:  Crude oil prices are trading in a narrow range during trading on Monday.  With the opening of Asian markets, the price of the benchmark Brent crude fell 22 cents to reach $67.36
per barrel.  Meanwhile, the price of US West Texas Intermediate crude fell 23 cents to reach $63.88 per barrel.

 

Prices are currently affected by opposing major factors.  On the one hand, prices are pressured by the possibility of increased supply by the OPEC+ alliance, which may decide to pump more oil at its meeting next week.

 

On the other hand, oil is receiving support from the escalating conflict between Ukraine & Russia & Ukraine’s targeting of Russian oil facilities.

 

Adding to the pressure on prices are economic data released today from China, which showed a contraction in industrial sector activity for the 5th consecutive month.

 

Ukrainian President Volodymyr Zelenskyy threatened on Sunday to retaliate by carrying out further strikes inside Russia, following Russian drone attacks targeting energy facilities in northern & southern Ukraine.

 

In recent weeks, the two countries have intensified their airstrikes, focusing on energy infrastructure & attempting to disrupt Russian oil exports.

 

Markets remain concerned about Russian crude flows, with weekly shipments from ports falling to a four-week low of 2.72 million barrels per day, according to tanker tracking data cited by ANZ analysts in a note.  

[Luigi1]

Here's some more Iraqi Business reports...

 

The Dollar Price Index Fell In Baghdad.
ARTICLE:  The USD ER fell against the Iraqi Dinar in Baghdad & Erbil at the close of the stock exchange on Monday.

Baghdad:  Selling price: 143,500 Dinars for $100.   Buying price: 141,500 Dinars for $100.

Erbil:  Selling price: 142,250 Dinars for $100.   Buying price: 142,100 Dinars for $100.

[Luigi1]

Here's F26 scuttlebutt for the day...

 

FRANK26:  It's All About The Float.

ARTICLE:  Conversations are being given to the Iraqi citizens.

From the CBI concerning the monetary reform. 

They’re breaking it down step-by-step.  

Right now it is teaching about the float in order to reach the real effective exchange rate.

The value of your currency as it gives you [Iraqi citizens] purchasing power, first inside of your country & then via the float outside of your country.