• Home
• /
• Business

Iraq begins process to join WTO

Abed Falah Al Sudani told ambassadors meeting in Geneva for first discussions on Iraq’s bid to enter the 150-member commerce body that “joining the WTO is an important step toward integration into the global trading system and restores its position with the international community after decades of isolation from the world,” according to a copy of the statement obtained by The Associated Press.

Iraq applied for membership almost three years ago, and a WTO negotiating group was established in December 2004. Membership isn’t expected for years to come. "We were very pleased with this meeting,” U.S. Ambassador Peter Allgeier told The AP. “We look forward to working with the (Iraqi) delegation to make this a successful process.”

WTO ambassadors from the European Union, Japan and other countries also asked questions of Iraqi officials presenting a 284-page report of its progress in harmonising its trading rules with international standards. Trade officials stressed that the current security situation and political instability in Iraq means it is premature to talk about any timetable for accession.

The first meeting focused on political support for the Iraqi government, rather than the tough reforms it needs to make, officials said. "As you know, there is much to be done," Al Sudani conceded. But he added that the Iraqi government was still able to generate economic growth over the last two years “despite the current circumstances Iraq is going through.”

Since U.S.-led forces toppled Saddam’s regime in 2003, the country has taken “rapid steps” to develop a market economy from a state-planned economy, boosting private enterprise, economic freedom, employment and free trade, Al Sudani said. He said Iraq was hoping to gain the WTO’s assistance in the transition."Iraq’s membership in the WTO sends a positive signal to the people of Iraq that they are welcomed back and that the world really cares about their welfare,” Al Sudani said.