Imports And Dependence On Oil Are Two Obstacles To Iraq's Accession To The World Trade Organization
Economical 11/03/2024 Baghdad: the mainstay of the emirate Membership in the World Trade Organization allows access to international trade policies, and despite the economic policies that Iraq has pursued during the last two decades in terms of international openness and the pursuit of establishing modern economic and legislative rules, attempts for the country to obtain a seat in the World Trade Organization have not succeeded so far, noting that Iraq became an observer member of the organization in 2004.
The Iraqi economy lacks supervisory and regulatory regulations within the scope of trade relations and international requirements in accordance with internationally approved standards.
Supporters of joining the World Trade Organization believe that this path allows the organization’s member states to have wider access to global markets, while Membership in the World Trade Organization ensures access to international trade policies. Saleh stated that
there is a lack of some important economic legislation, especially related to the rights of workers in the private sector, and the field of social security and union organization. He touched on the presence of
two restrictions that weaken Iraq’s role in the international institution.
second is semi-reliance. Total on oil.
For his part, academic Dr. Amr Hisham explained:
Supporters of joining the World Trade Organization have a number of reasons that encourage joining, including that international trade agreements give broader vital access to global markets in the fields of goods and services, and the agreements and their rules create a trade climate that allows a reasonable amount of trade. Commercial forecasting, to achieve the goal of preparing marketing and export plans.
He explained that trade agreements include obligations and rights, and the exercise of the rights contained in the agreements is limited to member states in the region alone, and resorting to the Trade Dispute Settlement Authority imposes seriousness in applying the rules to all parties, with the presence of a special mechanism to take punitive measures in the event of non-implementation.
Hisham cautioned that membership in the World Trade Organization guarantees access to other trade policies and the measures they contain that would affect access to markets, the extent of their consistency with international agreements, and participation in future negotiations to ensure the defense of commercial interests that concern those countries, and the formulation of agreements.
New measures approved by ministerial meetings.
The World Trade Organization (WTO): An intergovernmental organization that regulates and facilitates international trade between nations.
Governments use the organization to establish, review and implement the rules governing international trade.
The organization officially began its operations on January 1, 1995 in accordance with the Marrakesh Agreement, thus replacing the GATT Agreement concluded in 1948.
The World Trade Organization is the largest international economic organization in the world.
It has 164 member states that account for more than 98 percent of global trade and global commercial GDP.
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