Minister of Trade: Iraq's accession to the World Trade Organization will contribute to stimulating e

Minister of Trade Athir Dawood Salman Al-Ghurairi confirmed on Thursday that Iraq’s accession to the World Trade Organization will contribute to stimulating economic growth, during his speech at the third negotiating meeting with the World Trade Organization in the Swiss city of Geneva.

The Ministry of Trade said in a statement, seen by "Economy News", that "the Minister of Trade and the head of the team concerned with Iraq's accession to the World Trade Organization headed the Iraqi side in the third negotiating meeting with the World Trade Organization, in the presence of the Deputy Director-General of the Organization, Zhang Xing Chen, the head of the working group for Iraq's accession, members of the team and representatives of the WTO countries at the organization's headquarters in Geneva."

The minister pointed out - according to the statement - during a speech he gave at the meeting to "the importance of Iraq being part of the rules-based multilateral trading system," stressing that "we are pleased with the holding of the third meeting of the working group after sixteen years since the last meeting of the working group, which represents a fundamental step for us, government and people, on our way to joining, in addition to being a means through which we seek to achieve development and diversification of our national economy and our integration with the global economy."

The minister pointed out that "the government of Iraq is committed to its economic reform program by strengthening trade policy, improving the business environment and creating favorable conditions for foreign investment," indicating that "joining the World Trade Organization will contribute significantly to enhancing transparency, encouraging competition and stimulating sustainable economic growth for Iraq."

He continued, "The new Iraqi government, led by Prime Minister Mohammed Shia al-Sudani, and within its government program, has set a clear vision for the future of economic liberalization in Iraq, which includes setting timetables to achieve the liberalization process and focusing on sectors with high potential such as agriculture, industry and services, which stipulate supporting local and foreign investments and unifying customs policies at all borders and other measures to facilitate trade and investment and create investment opportunities."

The minister explained that "the government has also attached special importance to aligning its trade policy and regulatory legislation with international capabilities, rules and standards and strengthening institutional capabilities to effectively meet the requirements of the World Trade Organization."