Iraq may join WTO in 2011

BAGHDAD — Iraq could get membership in the World Trade Organisation (WTO) by end-2011 if it actively pursued accession, which could help its rebuilding efforts by boosting trade and investment, a US official said yesterday.

Iraq began the accession process in 2004 but has taken only the initial steps needed for membership.

Benefits could be limited as Iran, one of Iraq’s main trading partners, is not a member. But some Iraqi ministries, such as the finance ministry, are keen on accession because it would boost trade, and revenue from tariffs, said Larry Morgan, director of international trade at the US Agency for International Development’s Tijara project, which advises Iraq’s trade ministry.

“As it stands, it’s been a very slow process, but they are not that far off the trajectory,” Morgan said. “I’d say if they apply due diligence, then they could join by the end of 2011. That would be the earliest.”

WTO accession stands to increase Iraq’s access to imported goods, introduce standardisation and quality control of goods and pave the way for less chaotic and bureaucratic customs practices, Morgan said. Foreign business would have a greater sense of protection before entering the Iraqi market, aiding Iraq’s efforts to develop tourism and financial services industries, he said.