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The Future of Trade Liberalization of the Republic of Iraq

Lauren Wygonski April 29, 2009. The Future of Trade Liberalization of the Republic of Iraq. A Strategy for Iraqi Accession to the World Trade Organization. Table of Contents. Research Question Background Analysis Recommendations Questions and Answers. Research Question.

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The Future of Trade Liberalization of the Republic of Iraq

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  1. Lauren Wygonski April 29, 2009 The Future of Trade Liberalization of the Republic of Iraq A Strategy for Iraqi Accession to the World Trade Organization

  2. Table of Contents • Research Question • Background • Analysis • Recommendations • Questions and Answers

  3. Research Question Whereas the Republic of Iraq began accession to the WTO in 2004, what benefits will the Republic of Iraq gain from membership to the WTO? What costs are implied with the Republic of Iraq’s membership and how can those costs be minimized?

  4. Robust Expansion AheadReal GDP Growth & Per Capita GDP Source: Business Monitor International: The Republic of Iraq 2nd Quarter 2009 Report

  5. Primary Commodities Exported by the Republic of Iraq in 2008 Approximate Growth in Exports from 2007 to 2008 Mineral Fuel Oil= 100% Salt, Sulfur; Earths and Stone=23,400%

  6. Background • Nature of the Accession Process • The Republic of Iraq Accession status • Economic Status of the Republic of Iraq

  7. Article XII of the Marrakesh Agreement • Any State or separate customs territory possessing full autonomy in the conduct of its external commercial relations and of the other matters provided for the in the Agreement and the multilateral trade Agreements may accede to this Agreement, on terms to be agreed between it and the WTO. Such accession shall apply to this Agreement and the multilateral Trade Agreements annexed thereto. 2. Decisions on accession shall be taken by the Ministerial Conference. This Ministerial Conference shall approve the agreement on the terms of accession by a two-thirds majority of the Members of the WTO. 3. Accession to a Plurilateral Trade Agreement shall be governed by the provisions of that Agreement. John H. Jackson, William j. Davey, and Alan o. Sykes, Jr. “Legal Problems of International Economic Relations: Cases, Materials and Text on the National and International Regulation of Transnational Economic Relations, Fourth Edition,” (American Casebook Series: St. Paul, 2002), 233.

  8. Nature of the Accession Process (terms to be agreed) • Preparations for Application • Formal Application and Notification • Working Party Formation • Preparation of the Foreign Trade Regime Memorandum by the Acceding Country • Questions and Comments from Existing Members • Negotiations • Market Access • Membership Status • Transition Rules • Draft Protocol and Vote

  9. Timeline Approx. Ten Years

  10. Timeline of Jordan Seven Years

  11. Timeline of Saudi Arabia Twelveyears

  12. Timeline Of the Republic of Iraq Five years +

  13. Analysis • WTO Accession of Developing Countries • Current Iraqi Trade Policy & Negotiation Strategy Minister of TradeDr Abdel Falah Hassan Hamadi al-Sudani

  14. WTO membership and Developing Countries • creation of strong domestic trade policies and institutions to conduct internationally acceptable trade • develop an inviting atmosphere for market access to major export markets • gain access to a dispute settlement mechanism to protect international trade rights. Constantine Michalopoulos, “Developing Countries in the WTO,” (Palgrave, New York: 2001), 177

  15. Accession and Developing Countries 12 broad service sectors at the first tier

  16. Accession and Developing Countries Tariff Binding Coverage Rate: defined by the number of (HS) subheadings containing at least one bound tariff line divided by the respective total number of HS subheadings of the corresponding version of the HS nomenclature

  17. The Republic of Iraq Trade Policy • Coalition Provisional Authority (CPA) • Tariff Schedules • Reconstruction Levy • Licensing Procedures • Intellectual Property rights • Services

  18. Primary Imports for the Republic of Iraq in 2008 Source: Global Trade Atlas Navigator, Imports of all Commodity Chapters Iraq 2006-2008

  19. Recommendations Negotiation Recommendations with regards to: • Commitments made in Services Sectors • Tariff Binding Coverage • Diversification of Exports • Intellectual Property Rights • Saudi Arabia • Investment Law • Join the New York Convention • UNCITRAL

  20. Questions or Comments Please

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