by Rocky Mon 15 Jul 2024, 5:56 pm
MM&C 7/15/24
For the past 20 years, Iraq’s trade has operated under a dual customs regime, with different tariff rates in Federal Iraq and Kurdistan Region of Iraq... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
For the past 20 years, Iraq’s trade has operated under a dual customs regime, with different tariff rates in Federal Iraq and Kurdistan Region of Iraq (KRI). This dual system has led to varying administrative and economic customs policies, creating complications for trade, and challenges in the way of ensuring a transparent and predictable business environment.
The process of Iraq’s journey to join the WTO, began in 2004 and recently gained new momentum. A key requirement for WTO membership is the implementation of consistent policies nationwide, including aligning tariff rates, customs procedures, and regulatory practices across all regions. The differences in tariff structures between Federal Iraq and the KRI have been seen as a barrier to achieving the necessary coherence and transparency for WTO accession.
Recognising this, Iraq decided to harmonise the two customs regimes in 2019. However, the implementation was delayed for several years.
In 2024, with the support of the International Trade Centre (ITC) through the “Strengthening the Agriculture and Agri-Food Value Chain and Improving Trade Policy (SAAVI)” project funded by the European Union, this harmonisation was finally undertaken.
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Here is more support that what we heard about Iraq having a formal and historic meeting with the WtO this week suggest this is likely a good reason as to why. Iraq has now undertaken the alignment with the KRI.. What is not to like about this? Absolutely nothing!! Imo -~ MM |
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