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Iraqi Dinar Buzz Updates

Iraq will become member of the WTO soon; Committee’s main task is to reduce the difference between the U.S. dollar and the Iraqi dinar
2010-09-13 13:16:15
Posted: September 13, 2010 by Justhopin in Iraqi Dinar/Politics

Baghdad, 13 September (Akaniwz) – A source in the Iraqi government ended their mandates, said Monday that Iraq has made progress in its negotiations to join the WTO, noting that this accession will, in the near future.

The Task Force Iraq to join the organization was founded on December 13, December 2004, and only that he had submitted a note to join the organization on 16 September 2005, and the adoption of Iraq’s observer at the January 24, 2007, and began the meetings of the first round of the Working Group in 2007, followed by a second round of meetings in 2008, then the third round of the end of 2009.

A member of the negotiating committee in the Working Group of Iraq, Ibrahim Zndjeli, told the Kurdish news agency (Akaniwz) “The Iraqi government made considerable progress in seeking to enter Iraq to the World Trade Organization, especially after he was able to obtain assurances from member states of the Organization.”

“The Committee’s main task is to seek to reduce the difference between the U.S. dollar and the Iraqi dinar, as well as activating the role of the private sector, commensurate with the efforts to develop the economy of the country.” He said it “requires Iraq to open world markets in the Iraq, with the balance customs tariff on goods imported as commensurate with the economic laws in force in the country.”

With regard to problems which impede Iraq’s accession to the Organization, Zndjeli pointed out that “Member States in the WTO insists on the need to end the file of Iraq’s debt in full, and considers this a key condition to allow Iraq to enter as a key member of the Organization.”

Was established World Trade Organization under the Convention on TOW Bretton Woods the end of 1944 in the United States, was founded as the International Monetary Fund and the World Bank under the Convention itself, and the organization currently comprises approximately 150 countries.

Commentary: I believe this is positive news! First Iraq must have a recognized tradeable currency to become a member of the WTO, Furthermore, In my opinion “reducing the difference between the USD and IQD indicates they are wanting to bring the IQD closer in value to the USD…$1, $2, $3…etc. Oh and the article also mentions it would become a member in the “near” future!