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A U.S. official said that Iraq could join the WTO by the end of 2011 if diligently sought for membership that may help the reconstruction efforts through the promotion of trade and investment.
And Iraq has begun the process of accession in 2004 is that it has taken only initial steps required by the membership. Iraq may also receive limited benefits, given that Iran is a major trading partners is not a member of the organization.
But Larry Morgan, Director of the International Trade Commerce project of the U.S. Agency for International Development said that some Iraqi ministries such as Ministry of Finance is keen to win membership in the organization as it would boost trade and increase tariff revenues.
And submit a draft trade advice to the Iraqi Trade Ministry in matters related to the WTO.
Said Morgan, "as it is clear the process was very slow but they are not very far from the track .. I think that if they have made reasonable effort expected of them will be able to join by the end of 2011. This is the earliest date possible."
He explained that joining the WTO would increase Iraq's chances for imported goods and the introduction of standardization and quality control and pave the way for a less chaotic customs practices and bureaucratic.
Morgan said, "will allow the Iraqi Customs to join the developed world .. for men and women, Iraqi businessmen the country has one of the worst records in terms of time required for the import and export of goods."
He added that foreign businessmen will feel greater protection before venturing into the Iraqi market and to support Iraq's efforts to develop tourism and financial services sectors.
But analysts warn that Iraq will not be likely to diversify its economy to include activities other than oil - which already generates 95 percent of government revenues - and that red tape and political debate delaying many projects on time. [You must be registered and logged in to see this link.] [b]
And Iraq has begun the process of accession in 2004 is that it has taken only initial steps required by the membership. Iraq may also receive limited benefits, given that Iran is a major trading partners is not a member of the organization.
But Larry Morgan, Director of the International Trade Commerce project of the U.S. Agency for International Development said that some Iraqi ministries such as Ministry of Finance is keen to win membership in the organization as it would boost trade and increase tariff revenues.
And submit a draft trade advice to the Iraqi Trade Ministry in matters related to the WTO.
Said Morgan, "as it is clear the process was very slow but they are not very far from the track .. I think that if they have made reasonable effort expected of them will be able to join by the end of 2011. This is the earliest date possible."
He explained that joining the WTO would increase Iraq's chances for imported goods and the introduction of standardization and quality control and pave the way for a less chaotic customs practices and bureaucratic.
Morgan said, "will allow the Iraqi Customs to join the developed world .. for men and women, Iraqi businessmen the country has one of the worst records in terms of time required for the import and export of goods."
He added that foreign businessmen will feel greater protection before venturing into the Iraqi market and to support Iraq's efforts to develop tourism and financial services sectors.
But analysts warn that Iraq will not be likely to diversify its economy to include activities other than oil - which already generates 95 percent of government revenues - and that red tape and political debate delaying many projects on time. [You must be registered and logged in to see this link.] [b]
