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.