Economists: Iraq's accession to the World Trade Organization will limit the economic situation of isolation and call for law reform

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23/09/2013 13:38
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[ltr]Range Press / Baghdad
Promised the Economic Committee in the Iraqi parliament on Monday, Iraq's accession to the World Trade Organization "Troydha of the Iraqi economy weak", and stressed the need for the government "to create an environment suitable investment and reform tax laws and fees," as he emphasized the economic expert that Iraq's accession to the organization "will open global markets for the country, "calling to attend the World Iraq in all forums to stimulate the economy and not rely only on oil.


A member of the Economic Commission parliamentary Mahma Khalil in an interview (range Press) that "access to the WTO would result in a set of rights and duties, benefits and sacrifices," noting that "it requires that the stakeholders in the government package of measures that relate to the creation of the investment environment appropriate and rationalization of government support in addition to a number of reforms in the laws and procedures of taxes and fees and to other measures again. "


Khelil said that "Iraq's accession to the organization serves as a taming of the Iraqi economy, which suffers from weakness and that the fight against vulnerability requires firmness and consistency in decision-making beneficial even if it resulted in losses in the medium term and short term," adding that "the environment, the organization does not provide a safe environment for the economy weak but provide a general framework for the exchange of trade both competitive and efficiency, according to its potential. "


Khalil continued that "instructions of the organization the flexibility to take into account the specific conditions of each country, as there are some exceptions and allowances."


On his part, said economic expert Saleh al-Quraishi said in an interview to (range Press) that "Iraq's accession to the WTO will reduce the isolation that accompanied the Iraqi economy for a long period of time by the wars and the economic blockade," noting that "the isolation led to damage بامكانياته its competitiveness and the widening gap between the Iraqi economy and the rapid developments of the global economy. "


He explained Quraishi that "Iraq's accession to this organization is likely to bring some advantages such as opening international markets to Iraq and to attract foreign investment and integration with the global economy as well as openness to capital and integration with global financial markets," calling for the need to "correct the course of the economic process, especially the private sector through the presence of Iraq in all global forums to stimulate the economy and not rely only on oil. "


The deal with matters relating trade in the province of Diwaniyah confirmed, in (May 13, 2013), "Iraq's need" to join the World Trade Organization, while confirmed by the Ministry of Commerce said joining the organization "will move the Iraqi economy," "ruled out" businessmen the possibility of it on the ground Even the "Fifty years later," and attributed the cause to "the absence of legislation" in a position to put Iraq into the international system, demanding to cancel the "Ministry of Commerce."


The World Trade Organization announced its inception in 1995, and is one of the youngest international organizations, where the WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was established in the wake of World War II.


And despite the fact that the WTO is still the modern multilateral trading system, which was originally set up under GATT has reached the fifty-year-old, and celebrated the golden jubilee of the system in Geneva on May 19, 1998 in the presence of many heads of state and government leaders.


The past twenty years have seen a phenomenal growth in world trade, as goods exports rose an average of 6% annually and helped GATT and the World Trade Organization (WTO) to establish a system strong and prosperous business, which contributed to the unprecedented growth.


The Association for the Development and the development of industry and trade in Iraq criticized, on March 19, 2013, no state support for industry and trade sector and open the doors of import wide, causing damage to the product nationally and lost his ability to compete, while believing that the scarcity of electricity, fuel, and not keep up with the Angels national global developments and the lack of laws appropriate most important factors retreat Iraq industrially and economically, confirmed its quest detection areas ready for industrial investment and help stimulate foreign and Arab companies to invest jointly with Iraqi investors, creating industrial and commercial sources is oil.


It is noteworthy that Iraq has witnessed a year after 2003, a state of openness without restrictions on the world which led to flooding the domestic market with goods from around the world unsanctioned, as well as a decline in domestic production and public sectors as a result of the security chaos and the scarcity of snap and fuel, failed efforts government agencies concerned, so far, including standardization and quality control and the ministries of environment and health in the face of a flood of shoddy goods, despite the efforts made in this regard.




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The law I posted below is whatone of the laws they are waiting for! and it is going for a second read in the HoR.











Agenda of the meeting (21) Thursday (26) September 2013




Ninth: the second reading of a bill exempting Iraqi and foreign companies implementing investment projects from taxes and fees. ( Finance Committee , the Economy and Investment Committee, the Legal Committee ). (11 items).[/ltr]