Economy News – Baghdad
During his participation in the specialized workshop held by the Ministry of Commerce to discuss Iraq’s accession to the World Trade Organization, Samir Al-Nusairi, stressed the role of the banking sector in contributing to accelerating the organization and the important role of the financial and banking sector in it.
He referred to the verification in 2023 and 2024 of the procedures carried out by the Central Bank in cooperation with the government with regard to the organization of foreign trade financing and the electronic platform and work directly between banks and international correspondent banks based on the approved reform and development methodology,
official data and monetary policy indicators for 2024 and the planned for 2025 and 2026 in cooperation with international consulting companies specialized in this field. Compliance with financial globalization and international standards adopted in the member states of the World Trade Organization.
Al-Nusairi explained the most prominent axes of the banking reform project launched by the Central Bank this month in the presence and participation of the Prime Minister.
He pointed to the war of customs tariffs launched by the US administration and its effects in the medium and long term on the principles of the unification of tariffs.
Customs for the member states of the organization, and what are the means of confrontation that will be adopted by the World Trade Organization and the CAT organization concerned with regulating customs duties at the international level.
The workshop was held in the presence of members of the National Governmental Committee concerned with the Organization, in which Iraq currently holds observer status with 21 other countries with 166 countries with full membership. In addition to the presence of representatives of the concerned ministries, the private sector and trade unions.
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