Sunday, July 21, 2024
What Is The Benefit Of Iraq Joining The World Trade Organization? Al-Monitor Sheds Light On The "Secrets", 21 JULY
Money and business Economy News - Follow-up Iraq announced the resumption of negotiations to join the World Trade Organization for the first time since 2008, a step that may benefit the Iraqi economy but will take a long time.
Al-Monitor reported in a report translated by "Al-Eqtisad News" that "the Iraqi negotiating teams began "preparatory meetings" at the headquarters of the World Trade Organization in Geneva, and the Iraqi delegation included officials from ministries in the federal government and the Kurdistan Regional Government, while another meeting will be held at an unspecified date to review Iraq's accession to the World Trade Organization."
The World Trade Organization is an intergovernmental organization that aims to promote international trade. It provides a platform for governments to negotiate trade rules and disputes among themselves. Member states make key decisions. The WTO has 164 members who say they are responsible for 98% of world trade.
Iraq first applied to join the WTO in 2004, the year after the U.S. invasion that toppled dictator Saddam Hussein. A “working group” was then set up, but there has been little progress since then. The group last met formally in 2008. An informal meeting was held in 2017, according to the WTO’s website.
The process has gained significant momentum recently. In January, a WTO delegation visited Baghdad “to mobilize political support for the resumption of Iraq’s WTO accession process.” The discussion focused on Iraq’s economic reforms and was led by Saqr bin Abdullah Al-Muqbil, Saudi Arabia’s ambassador to the WTO and chair of the Iraq Accession Working Group, the organization said in a statement at the time.
A basic requirement for WTO accession is consistent trade policies across the country, including tariff rates and customs procedures. Thus, differences in the tariff structure between the federal government and the Kurdistan Regional Government have been an obstacle to Iraq’s efforts to join the WTO.
The UN team for Iraq said in a statement that Iraq decided to unify the two customs systems in 2019, and the Federal Ministry of Finance finally approved the unified customs tariff framework in February of this year.
Joining the WTO could benefit Iraq. According to a report issued by the Council on Foreign Relations in April 2023, the WTO has been largely successful in expanding free trade.
The Council noted that the dollar value of international trade has quadrupled since the establishment of the World Trade Organization in 1995, and that average tariffs do not exceed 3%.
According to the Council on Foreign Relations, there are also negative aspects to the WTO.
The council noted in the report that "globalization and free trade have their drawbacks. These include the potential for economic inequality and job loss."
The WTO has been particularly criticized for its application of rules toward China.
“The WTO is also struggling to perform its third function – enforcing the rules – particularly with China. Since joining the WTO in 2001, China has violated global trade rules by providing extensive subsidies to its domestic industries and stealing technology and other intellectual property. China has faced few, if any, consequences for its actions,” the council said.
China has a growing presence in Iraq, and there have been significant Chinese investments in Iraqi oil and infrastructure in recent years.
The WTO says it has helped facilitate poverty alleviation in developing economies by promoting trade.
In September 2023, WTO Director-General Ngozi Okonjo-Iweala told the Center for Strategic and International Studies: “Over the past generation, market-oriented reforms in places like Eastern Europe, India, and China, together with the open global economy anchored in the GATT/WTO system, have boosted growth and trade and helped lift more than a billion people out of extreme poverty.”
GATT stands for General Agreement on Tariffs and Trade, the predecessor to the World Trade Organization.
Iraq's trade is dominated by oil. Crude oil accounted for 90% of Iraq's $123 billion in exports in 2022. Iraq imported $67.1 billion that year, with the main imports being refined petroleum, broadcasting equipment, and cars.
These figures gave Iraq a trade surplus of more than $50 billion in 2022, according to the Observatory of Economic Complexity.
Iraq may have a long wait before joining the WTO. East Timor joined in February after seven years of negotiations. Comoros joined at the same time — a process that took 17 years, Arabian Gulf Business Insight reported at the time.Views 63 07/20/2024 - https://economy-news.net/content.php?id=45390
RV UPDATE BY WOLVERINE, 21 JULY
WOLVERINE
- Fri. 19 July 2024 Wolverine: New Dinar Rate published Sun. night. Tier4b notification Mon. 22 July. The Pretorious Group has started in Brazil. Pentecostal Group is quiet. Private contractors are still getting paid. NESARA and GESARA are now entered. The New Iraqi dinar Exchange rates will FINALLY be published directly on the Forex screens on Sunday evening 21 July 2024.
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WOLVERINE
- Wed. 17 July 2024 Wolverine
- “Bond Holders are getting paid. Private Contractors are getting paid. Reno said it has started. I was told it was released to the Pentecostal Group. Absolutely it is our week, but it is a process and Tier4b may not have it until next week.”
Sun. 14 July 2024 Wolverine
“It has started. This report came through today (Sun. 14 July): “Zurich, London, Toronto and Reno now confirm activation ends today (Sun. 14 July), with payments held on Monday (15 July). Most platforms will send notification over the weekend and start payments on Tues. (16 July). Reno actually started payments (to Whales) yesterday (Sat. 13 July). Ok. Have a beautiful day.”
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Q & A WITH MR RODRIGUEZ
MS. RODRIGUEZ: We wait for the green light. I wish I could go now to the bank to trigger the light, to redeem, but when you look at this globally, there is a time that it is meant to happen. But the war came with Russia, then things were delayed - the time has to be properly prepared. Anytime soon - it can happen, tomorrow or tonight, remember we must never lose our hope and to have faith. All this is for only the Chosen Ones, as you were chosen for this. If they know you are a bad person you cannot receive this blessing.
The white hats know about the trolls in the room. All the cabal elite and corrupt people, you will be eliminated if you are not part of the Chosen One. We are going to begin a new one thousand years starting this year of 2024 Jan. The old one thousand years is gone. This is the new generation we are facing now. All the corrupt, all the evil, the dark side, they will not succeed. So many are already gone. President Trump is one of the chosen to lead the country to lead the USA. My job is global, those with me are Russia and China, and we will all work together for the best of humanity. All happening now is for all humankind. We are the chosen. I want to congratulate all of you!
WOLVERINE: Are Medbeds real?
MS. RODRIGUEZ: The Medbeds were given to us, and the cabal hid it because it will kill the pharmaceutical business. Who does not want this opportunity? Pharmaceutical and medical do not like this. When the new cure appears for the people they will disappear The medbeds are funded by the Rodriquez Trust as well is Nesara and Gesara . This is an incredible invention that is real. It is already happening in South America now, and other quiet places in the country. It is 100% real. It will be coming. The minute the RV comes out the Medbeds come out.
WOLVERINE: I spoke with the medbeds rep in Colombia, and he said the beds are ready. As soon as the RV is ready they will be ready, but they need more beds, because at this time ther are only 2000 in the country, and they need enough for 30 million people in the country.
MS. RODRIGUEZ: I am infinite money. No ending type of money. I hold this infinite money to fund all the globe - the money is never ending. When it comes to money for humanity for all cures for the sick, and to help the poor, it will all happen.
WOLVERINE: Thank you, Elizabeth. Thank you for all this information.
MS. RODRIGUEZ: The Chosen Ones are chosen to go to Redemption. You are all chosen to go to the redemption center.
A NOTE FROM CARPATHIA: Today, We have received the most encouraging news from our Wolverine and important information from our most honored Guest, Elizabeth Rodriguez Ruiz.
We are now on the cusp of our dreams, dreams that we have prayed for with all our hearts for a very long time Not one time have we thought of giving up, and soon my dear friends, we will stand in the arena of Victory, where God will lead each of us on our destined path into a New World where hope and faith rule the day. All the good things we have waited for are just around the corner. Be proud for never giving up on yourselves and your dreams.
Love to you All, Carpathia
https://dinarevaluation.blogspot.com/2024/07/q-with-mr-rodriguez-from-carpathia-13.html
Why Were Iraq And Most Arab Countries Not Affected By The Technical Glitch That Hit The World? , 21 July
Baghdad Today - Follow-up A global technological outage has caused many sectors around the world to stop working, most notably airports and financial banks, today, Friday, (July 19, 2024), but the matter was different in Iraq and most Arab countries, as well as China and Russia .
In Iraq, the Civil Aviation Authority rushed this morning to clarify that “the country’s airports were not affected by the technical glitch in the global computing systems,” while the Cyber Security Center at the National Security Advisory confirmed today that “Iraqi government institutions were not affected by the global electronic glitch .”
Kuwait, Lebanon, Morocco and Egypt announced that their countries were not affected by the global technical failure because they do not use Microsoft in their operations; they were not affected by the outage .
Questions were raised about the reason for the systems stopping in some countries while they did not stop in other countries, especially Iraq and other Arab countries, but by knowing the reason for the technical failure, the reason for that can be reached .
The Microsoft outage was linked to a new update from CrowdStrike, a cybersecurity software company, and caused disruptions across a range of sectors, with stock exchanges, airlines and banks the most affected .
Accordingly, and according to tracking data from technology companies, the outage only affected computers that use the CrowdStrike cybersecurity system on Microsoft systems, which means that computers running on Microsoft's system, and not using the CrowdStrike cybersecurity system, were not affected by the global glitch . LINK
Weekend News with MarkZ. 07/20/2024
IRAQ BOOTS ON THE GROUND REPORT BY FIREFLY, 21 JULY
[Iraq boots-on-the-ground report]
FIREFLY:We're hearing this man on Chanel one on the TV he's saying to us citizens, he's saying joining the WTO will eventually lead to the rising of the dinar value up. It's all about global trade...In order to compete we will need a real effective exchange rate to produce anything in the global trading market.
FRANK: He's right...It's amazing they are talking to you about the real effective exchange rate...because that is the end result of the float...God willing it comes out at $3.22 as an RI.
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