Nothing on WTO Calendar

[virgoinva2001]

I have been reading that a critical upcoming date is a meeting with the WTO which is supposed to happen on the 15th of March. I have checked the WTO calendar and did not see any meeting scheduled. I am not a WTO expert so maybe I missed the meeting, perhaps its a special meeting. Of note tied to this discussion is the stated fact by many that the Dinar needs to revalue and be a tradeable currency before acceptance. I have posted the section on WTO accession Handbook on currency below. It does not come out and state that it is a requirement for a currency to be tradeable to be part of the WTO, it provides some guidelines about exchange of currencies and the country requesting membership must show how it will exchange currency. The key part of an accession into the WTO seems to be the provisions established by the WTO with each individual country. The WTO can add additional requirements that must be met. Without seeing the actual requirements negotiated between Iraq and the WTO makes it hard to know. Not sure any of this is relevant if the gurus are correct that the RV is happening in the next few days. However, thought this might be interesting. The WTO handbook in itself is interesting and it is clear that the WTO and IMF cross boundaries and it is not always clear who is pulling the strings.

Foreign exchange and payments

[color="#FFFF00"]Applicants need to describe how their exchange rate is determined, whether their currency is convertible, whether foreign exchange is freely available for trade and payments purposes, whether any regulations exist relating to the retention of foreign currencies, or repatriation or surrender requirements. Applicants should also describe their balance of payments situation.[/color]

While foreign exchange questions are within the jurisdiction of the IMF and trade policy questions within the competence of the WTO,128 foreign exchange questions and trade policy questions are interrelated. Of most direct relevance to the WTO is whether foreign exchange is freely available in payment for current account transactions, as exporters need to know how they will be paid. The WTO therefore recognizes this interrelationship. The GATT 1994 provides that Members must not, by exchange action, frustrate the intent of its provisions and that they must either be members of the Fund or enter into a special exchange agreement with the WTO.129 GATS provides that Members must allow international transfers and payments for current transactions relating to specific commitments entered into under that agreement.

[mrref]

I have been reading that a critical upcoming date is a meeting with the WTO which is supposed to happen on the 15th of March. I have checked the WTO calendar and did not see any meeting scheduled. I am not a WTO expert so maybe I missed the meeting, perhaps its a special meeting. Of note tied to this discussion is the stated fact by many that the Dinar needs to revalue and be a tradeable currency before acceptance. I have posted the section on WTO accession Handbook on currency below. It does not come out and state that it is a requirement for a currency to be tradeable to be part of the WTO, it provides some guidelines about exchange of currencies and the country requesting membership must show how it will exchange currency. The key part of an accession into the WTO seems to be the provisions established by the WTO with each individual country. The WTO can add additional requirements that must be met. Without seeing the actual requirements negotiated between Iraq and the WTO makes it hard to know. Not sure any of this is relevant if the gurus are correct that the RV is happening in the next few days. However, thought this might be interesting. The WTO handbook in itself is interesting and it is clear that the WTO and IMF cross boundaries and it is not always clear who is pulling the strings.

Foreign exchange and payments

[color="#FFFF00"]Applicants need to describe how their exchange rate is determined, whether their currency is convertible, whether foreign exchange is freely available for trade and payments purposes, whether any regulations exist relating to the retention of foreign currencies, or repatriation or surrender requirements. Applicants should also describe their balance of payments situation.[/color]

While foreign exchange questions are within the jurisdiction of the IMF and trade policy questions within the competence of the WTO,128 foreign exchange questions and trade policy questions are interrelated. Of most direct relevance to the WTO is whether foreign exchange is freely available in payment for current account transactions, as exporters need to know how they will be paid. The WTO therefore recognizes this interrelationship. The GATT 1994 provides that Members must not, by exchange action, frustrate the intent of its provisions and that they must either be members of the Fund or enter into a special exchange agreement with the WTO.129 GATS provides that Members must allow international transfers and payments for current transactions relating to specific commitments entered into under that agreement.

ARE YOU ASKING A QUESTION?????????WHAT POINT ARE YOU MAKING?????

[virgoinva2001]

My point MRREF is that we have been hearing that the RV must happen to be in WTO i and that is not stated in the WTO Accession Handbook. My point is that we have heard that Iraq is going to the WTO on tuesday the 15th and the WTO calendar does not show a meeting scheduled. Everyone seems to want facts on this site rather than just opinion, well there are two facts just provided.

[mauser]

WHY DOES THE DINAR HAVE TO RV HIGH?? IF IT HAS TO BE A TRADABLE CURRENCY IT COULD STAY THE SAME AS IT IS NOW... LOOK AT VIETNAM... 20875 VND TO ONE US $.... I BELIEVE THEY ARE PART OF THE WTO, SOOOO, CAN SOMEONE TELL ME WHY IRAQ HAS TO INCREASE THE VALUE OF THE DINAR? JUST BECAUSE IT HAS G&O OR ?? I SURE HOPE THEY DO, BUT A LOT OF INFO DOESN'T MAKE SINCE.. THE WTO FOR ONE.