Iraq Wants to Join WTO What This Will Mean for Iraq?

The image is the waterfront in Basar, Iraq.  An AI recreation of the original image.

 Iraq is on a desperate quest to join the World Trade Organization (WTO) after more than 19 years of tireless effort. As an observer member, Iraq has undertaken immense work to adopt regulations and strategies mandated by the WTO while desperately attempting to formulate internal policies that will ultimately lead to full membership.

 Israa Al-Jabari, the international trade coordinator at Iraq’s Ministry of Trade, emphasizes the importance of joining the WTO in order to enhance access to global trade and industry opportunities. She insists that it is essential for Iraq to become aligned with international standards in economic and commercial matters. With determination and intensity, Iraq trudges forward in its bid to join the WTO.

The trade ministry's mission to join the WTO is relentless, gathering representatives from Iraq's powerful economic stakeholders —including the Iraqi Contractors Federation, the Iraqi Businessmen Union, and the Iraqi Private Banks League— for a decisive workshop. Suha Al-Kifaee, managing director of the International Islamic Bank who attended the meeting, declared that significant steps had been taken towards making Iraq a fully participating member of the WTO. Kifaee asserted that full accession would catalyze immense progress in financial services, strengthen foreign investment through the legal framework of banking and investments law and central bank law, and revolutionize Iraq's economy by transitioning it away from its dependence on oil revenues towards a more liberal market structure.