Imports and dependence on oil are obstacles to Iraq’s accession to the WTO

Imports and dependence on oil are obstacles to Iraq’s accession to the WTO

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Membership in the World Trade Organization allows access to international trade policies. Despite the economic policies that Iraq has adopted over the past two decades in terms of international openness and the pursuit of establishing modern economic and legislative rules, attempts to obtain a seat in the World Trade Organization have not succeeded so far, noting that Iraq obtained observer status in the organization in 2004.

The financial advisor to the Prime Minister, Dr. Mazhar Mohammed Salih, said: The Iraqi economy lacks regulatory and supervisory regulations in the scope of trade relations and international requirements according to internationally approved standards. Supporters of joining the World Trade Organization believe that this path allows member states of the organization to have broader access to global markets, while membership in the World Trade Organization guarantees access to international trade policies.