A member of the Economic Committee in Parliament MP Amer Jassim Al-Fayez expected Iraq's accession to the WTO during the next two years, confirming the presence of several obstacles have made Iraq away from the world trade market.
Al-Fayez said: The Iraq's accession to the WTO needs to stabilize the economic and political in the country, noting there are constraints have made Iraq away from it like the oscillation of the local currency against hard currencies as well as the lack of resolution of the project to delete the three zeroes from the currency.
He added that the lack of high living standards of the Iraqi people as it takes to cancel the ration card was also blocked the entry of Iraq into the WTO, global trade because the market does not recognize the government support as it is being linked to other countries and the ration based on government with its financial support.
He continued that the bilateral differences between the Governments of Arbil and Baghdad, with respect to oil and gas also deprived Iraq of accession, in addition to the unstable political situation in the country, all of which made Iraq away from world trade, saying it needs to be enough time maybe two years in order that Iraq will be eligible to join the world Organization.
The World Trade Organization in established 1995, and is one of the smallest organizations of the world concerning the age as the WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was established in the end of World War II, and its primary goal is to help the flow and trade flow smoothly and freely. Include the World Trade Organization (WTO) more than (140) members representing more than (90%) of world trade.