WTO Accession of Iraq 2024
The World Trade Organization (WTO) accession of Iraq has been a long-standing process, with the country first applying for membership in 2004. After a 16-year hiatus, Iraq resumed its accession talks in 2024, with the aim of becoming a full-fledged member of the WTO.
Background
Iraq's accession process was put on hold due to various challenges, including the country's dual customs regime, which had different tariff rates in Federal Iraq and the Kurdistan Region of Iraq (KRI). This dual system created complications for trade and challenges in ensuring a transparent and predictable business environment.
Recent Developments
In 2024, Iraq made significant progress in its accession process. The country harmonized its customs regimes, aligning tariff rates and customs procedures across all regions. This was a key requirement for WTO membership, and the harmonization was achieved with the support of the International Trade Centre (ITC) and the European Union.
Current Status
Iraq has resumed its accession talks with the WTO, with the aim of becoming a full-fledged member. The country has made significant progress in recent years, including the harmonization of its customs regimes and the implementation of consistent policies nationwide.
ChallengesAhea
Despite the progress made, Iraq still faces challenges in its accession process. The country needs to continue to implement consistent policies nationwide, including aligning tariff rates and customs procedures across all regions. Additionally, Iraq needs to address issues related to intellectual property rights and trade facilitation. Conclusion
Iraq's accession to the WTO is an important step towards the country's economic development and integration into the global economy. While challenges remain, the progress made in recent years is a positive sign, and the country is moving closer to becoming a full-fledged member of the WTO.
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