The director of economic relations in the Federal Trade ministry said on Monday that his ministry backed the World Trade Organization (WTO)’s decision to enter into a third round of negotiations over granting Iraq permanent membership.
Hashem
Hatem told AKnews that Iraq is working to a well-prepared plan to raise
its status from observing member to permanent member of the WTO without
affecting the country’s internal economic situation.
Hatem said
that Iraq has plans to send an official delegation to Morocco in order
to gain an in-depth vision of the process of attaining permanent
membership of the organization.
“Iraq passed two important rounds
in 2007 and 2008 in which it reviewed its efforts in developing its
commercial situation and will begin the third round this year,” he said.
The
federal Trade Ministry said earlier that the WTO is suitably
“convinced” by the legislation approved by the Iraqi parliament to
support the country’s trade policy.
The WTO was established in
1995 and comprises 147 countries with permanent membership. The
organization aims to promote a world economy that preserves the rights
of both consumers and producers through internationally agreed
regulations.
(Source: AKnews)