Iraq wants to join WTO

Iraq wants to join WTO

Monday, September 13th 2010 11:41 AM



Baghdad, Sept. 13 (AKnews) - A source in the outgoing Iraqi government said on Monday that Iraq is holding negotiations to become a member of the World Trade Organization (WTO).

An Iraqi task force was established in December 2004 to pave the way for the country’s membership in the organization. The task force officially submitted a request to the WTO expressing Iraq’s desire to join the organization.

“Iraq has taken big steps in its efforts to join the WTO especially after talks were held with the member states in the organization,” said Ibrahim Zenjili, a member of the task force.

He said the main duties of the task force are reducing the difference of value between Iraqi Dinar and U.S. dollar and activating Iraq’s private sector.

Zenjili said the major condition set by the member states of the WTO for Iraq to join the organization is Iraq’s foreign debt dossier.

Iraq owes billions of dollars to various countries.

Established in 1995, the WTO deals with the rules of trade between nations. It currently has 153 members.



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