DINAR REVALUATION

Sunday, October 13, 2024

Members Welcome Iraq’s Return To WTO Accession Talks After 16 Year, 14 OCT

Members Welcome Iraq’s Return To WTO Accession Talks After 16 Year

ACCESSIONS

Iraq

Iraq's Working Party was established on 13 December 2004. The Working Party met for a third time in July 2024. The Working Party is chaired by Ambassador Saqer Abdullah ALMOQBEL (Saudi Arabia, Kingdom of). For more information on the current status of this accession, please click here.

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Iraq ACCESSION Members welcome Iraq’s return to WTO accession talks after 16 years Acc_18jul24_md

Members welcome Iraq’s return to WTO accession talks after 16 years

18 July 2024

At the third meeting of the Working Party on the Accession of Iraq on 18 July, WTO members welcomed .

Q & A WITH WALKINGSTICK, 14 OCT

Walkingstick

Question: "What does it mean to you when they say 'In the coming days' the Iraqi citizens?"

IMO that means now.

Question: "They've used that phrase before haven't they?"

Yes but not surrounded by all the information that they're giving to the Iraq citizens about the monetary reform on a daily basis...'

In the coming days', yeah, now. In the coming days, very quickly, now.

Latest Update & Insights of DINARLAND @DINARREVALUATION

FRANK26….10-8-24…IQD UPDATE & MILES FRANKLIN GOLD & SILVER

WHAT HAPPEN WHEN A COUNTRY APPLIES TO JOIN THE WTO BY GOLDILOCKS, 13 OCT

GOLDILOCKS

When a country applies to join the World Trade Organization (WTO), it must describe how its exchange rate is determined.

Applicants must also provide information on:

* Whether their currency is convertible

* Whether foreign exchange is freely available for trade and payments

* Any regulations related to retaining foreign currencies

* Repatriation or surrender requirements

* Their balance of payments situation

The WTO promotes fair trade by setting global trade rules and enforcing them through its dispute settlement system. However, the WTO defers to the International Monetary Fund (IMF) for assessing exchange rates.

The IMF has adopted standards for assessing exchange rates, but it has not officially used those standards to assess specific countries. Iraq will be determining their rate themselves.

The WTO's goal is free trade, which it achieves by binding its members to international commitments. These commitments include:

* Access to the goods and services markets

* Use of economic policy instruments that affect trade

* State support of agriculture

As you can see, Iraq will be reaching its final stages of inclusion into the International markets in the first or second quarter of next year.

https://www.wto.org/english/thewto_e/acc_e/cbt_course_e/c5s2p2_e.htm

"Autumn" Economic Recession In Iraq.. And A Government Advisor Explains The Reasons, 13 OCT

"Autumn" Economic Recession In Iraq.. And A Government Advisor Explains The Reasons

Time: 2024/10/11 Read: 2,574 times {Economic: Al Furat News} A government advisor revealed that Iraq is going through a “seasonal economic recession.”

The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, told {Al-Furat News}: "The fluctuation of the dollar exchange rate in the parallel market has nothing to do with the phenomenon of seasonal recession that the markets are currently witnessing."

He explained that "the recession in demand comes after the high peak of sales that preceded the current school season and the end of most major religious and social occasions, in addition to the entry of the fall season, which is the end of the summer season, that abundant season in agricultural production and marketing."

Saleh explained, "In all cases, there is a recession in demand or a recession in seasonal economic activity, which is a phenomenon that occurs when economic activity declines during a certain period of the year as a result of seasonal factors."

He continued, "This recession can occur in different sectors such as tourism, agriculture, or retail sales, and is often affected by natural factors such as weather, religious occasions and holidays, or changes in demand patterns from one season to another."

Saleh believed that this recession "will take such a seasonal change, a few weeks until the entry of winter for economic activity to begin interacting in this short-term economic cycle."Raghad LINK