Geneva, Switzerland, July 19, 2024 /ChatnewsTV/ — The World Trade Organization (WTO) has welcomed Iraq’s formal return to accession talks after a 16-year break. The third meeting of the Working Party on the Accession of Iraq, held on July 18, 2024, in Geneva, marked a pivotal step in Iraq’s journey towards becoming a full-fledged WTO member.
Leading a high-level delegation from Baghdad, Iraq’s Minister of Trade, Atheer Dawood Salman Al Ghrairi, emphasized the critical nature of this milestone. “This meeting represents a distinctive step for the Government and the people of Iraq towards becoming a full-fledged member of the WTO, a target we seek to achieve as a means to enhance our national economic strategy and integration in the global economy,” Minister Al Ghrairi stated. He further underscored Iraq’s unwavering commitment to economic reforms despite ongoing security, political, and regional challenges.
Ambassador Saqr Almoqbel of Saudi Arabia, chairing the Working Party for the first time since his appointment last year, highlighted the importance of Iraq’s renewed engagement. “The Minister’s presence here, the first since 2008, sends a clear signal that Iraq’s accession process is now back on track,” he remarked, acknowledging the collaborative efforts that made this meeting possible, including his visit to Baghdad in January 2024 where he met with senior Iraqi officials, including President Abdul Latif Rashid.
The formal resumption of Iraq’s accession process was widely commended by WTO members. Deputy Director-General Xiangchen Zhang noted the broader significance of Iraq’s efforts. “As the largest region outside the multilateral trading system, this moment signifies a renewed opportunity for progress and collaboration towards accession for Iraq and hopefully other Arab nations aspiring to join the WTO, enhancing regional and global trade dynamics,” he stated, highlighting the crucial role of technical assistance and capacity building for Iraq, especially given its status as a post-conflict country.
Iraq has made substantial progress in aligning its trade policies with international standards. Minister Al Ghrairi pointed out the significant efforts of the National Committee on Iraq’s Accession in fulfilling WTO requirements, including the submission of key negotiating documents and initial market access offers on goods and services. “The Government of Iraq remains steadfast in its commitment to pursue a reform agenda in terms of enhancing trade policies, boosting the business environment, and creating favourable conditions for foreign investment,” he affirmed.
During the meeting, members discussed various aspects of Iraq’s foreign trade regime based on its revised Memorandum of the Foreign Trade Regime (MFTR) and other supporting documentation. Iraq provided updates on legislative developments and its initial contacts with members regarding bilateral market access negotiations, expressing readiness to further engage with WTO members.
Ambassador Almoqbel invited Iraq and WTO members to intensify bilateral negotiations on market access, building on recent contacts. He encouraged members to submit specific questions in writing by August 15, with Iraq expected to respond and submit other requested documents. The Chair also asked the WTO Secretariat to assist Iraq in revising its MFTR, which will be central to the ongoing examination of Iraq’s trade regime at the next meeting of the Working Party.
Several members and international organizations pledged support for Iraq’s technical assistance needs, with plans to organize a Round Table to facilitate further discussions. The fourth Working Party meeting is tentatively scheduled for the first quarter of 2025, contingent on the progress of the outlined steps.
