TNT
Tishwash:
Iraq’s accession to the World Trade Organization: The United Nations confirms tangible progress.
Joining the World Trade Organization is witnessing clear progress, according to the United Nations International Trade Centre, with the completion of key technical and regulatory stages at both the local and international levels.
The International Trade Centre, a United Nations agency, confirmed that Iraq has made clear progress in its steps towards joining the organization.
Eric Bochot, the director of the International Trade Centre’s programs in Iraq, affiliated with the United Nations, said : “The process of Iraq’s accession to the World Trade Organization is still ongoing, and has seen progress in several important stages at both the national and international levels.”
Bushot added that this progress includes the establishment and reactivation of the Iraq Working Group at the World Trade Organization, the revival of national coordination mechanisms, technical reviews of trade-related legislation, communication with member states of the organization, as well as preparatory work related to market access and regulatory harmonization.
The UN official stressed that what has been accomplished so far reflects a continued commitment to aligning the Iraqi trade system with multilateral rules, although additional steps are still required.
For his part, economist Nabil Al-Tamimi said that the government and the Ministry of Trade are working hard to join the World Trade Organization.
Al-Tamimi added that “joining requires several procedures, including legislative and legal amendments, in order for Iraq to meet the conditions for joining this organization, noting that the legislative process in Iraq may be slow for several reasons.”
Advertisement
______________________________________________________
Al-Tamimi explained that these steps were accompanied by procedural obligations that are part of the conditions for joining the organization. (LINK)
Parliament will host officials from the Central Bank and the Integrity Commission next week.
“Within the framework of activating the oversight role”
The Parliament Presidency set next week, Monday (January 5, 2026), as the date for hosting a number of officials from the Financial Control Bureau, the Integrity Commission, the Central Bank and other federal institutions within the framework of activating the oversight role.
The media department of the House of Representatives stated in a statement received by Network 964 that the parliament “held its second session of the sixth e*******l term of the first legislative year, the first legislative chapter, today, Monday, under the chairmanship of Hebat Al-Halbousi, Speaker of the Council, and in the presence of 229 deputies.”
He added that “the Speaker of the Council emphasized at the beginning of the session the need to adhere to the provisions of the House of Representatives’ internal regulations, as they are in effect and were voted on in the previous session.”
He pointed out that “President Hebat Al-Halbousi stressed the importance of expediting the formation of parliamentary committees, and giving a deadline of 7 days for parliamentary blocs to submit their proposals to the Presidency of the Council regarding the development of a plan to distribute members among the parliamentary committees according to the internal regulations of the Council, stressing the importance of activating the Parliamentary Conduct Committee to preserve the status of Iraq and the House of Representatives in terms of oversight and legislation.”
He added that “the Speaker of the Council noted that the time for holding the Council sessions has been permanently fixed at 11 am, in agreement with the heads of the parliamentary blocs, in addition to proceeding with other controls and instructions that enhance the management of the legislative institution in the best way.”
He explained that “the session emphasized the discussion by the members of the council of the organizational matters that the council follows in managing its sessions and parliamentary committees in order to address some of the previous obstacles to enhance the role of the House of Representatives in oversight and legislation, in addition to stressing the need to prioritize the enactment of important laws.”
Advertisement
______________________________________________________
Regarding candidacy for the presidency, he explained that “the Speaker of the Council noted that 44 applications for candidacy have been received so far, and the extension of time was due to the New Year holiday, indicating that the nomination period closes today, Monday, at the end of official working hours.”
He concluded by saying that “Al-Halbousi mentioned that the House of Representatives will host next week officials from the Financial Control Bureau, the Integrity Commission, the Federal Service Council, the provincial councils, the Central Bank, the head of the Martyrs Foundation, and the head of the Retirement Authority.” (LINK)
Sources: Measures and solutions to reduce the dollar exchange rate against the dinar in local markets
Economically,the exchange rate of the US dollar continues to rise against the Iraqi dinar in local markets, with trading indicators approaching the 150,000 dinar mark for every 100 dollars in many governorates, in a development that has raised concerns among economic circles and citizens alike.
Banking reports indicated that the exchange rate reached levels close to this threshold, with prices ranging around 147,000-150,000 dinars per 100 dollars recorded in exchange bureaus and shops in Baghdad, Erbil and other cities, after a relative stability of the dinar earlier this year.governmentBaghdadGovernment sources confirmed to Iraqi media outlets that a series of governmental and monetary measures are being implemented or planned to contain the surge in the dollar’s value and attempt to lower its price against the dinar in the parallel market.
These measures include: strengthening oversight of the exchange market and curbing speculation.
Sources indicated that relevant authorities are focusing on monitoring buying and selling activity in unofficial markets and attempting to limit speculation, which is considered a driving factor behind the rise in the price of foreign currency.
This step comes within the framework of efforts to control prices and reduce the gap between official and parallel exchange rates.Encouraging official transactions through banks and official platforms is also being pursued.
Central Bank of IraqGovernment agencies are encouraging transactions in US dollars through official banking channels and facilitating access to the currency for citizens and merchants from the official market at fixed rates, in an effort to alleviate pressure on the parallel market.
This includes utilizing reserves.
Iraq-Regarding hard currency,economic sources stated that the country’s hard currency reserves play a role in calming the market, as they contribute to meeting the real demand for dollars and reducingAsylumThe parallel market, along with efforts to finance foreign trade to support legitimate demand, has prompted economic and public reactions .
A number of merchants and citizens have expressed concern about the impact of the rising exchange rate on import costs and consumer goods prices, especially given the economy’s reliance on imports.
Advertisement
______________________________________________________
Some economic entities have called on the Baghdad government to intervene swiftly to address the dinar’s decline and ensure price stability. In contrast, experts believe that current government measures may take time to produce tangible results in the markets, and that the issue is not simply about reducing the exchange rate, but requires a comprehensive package of financial and monetary reforms to improve investor confidence and reduce dependence on the parallel market.
With the dollar approaching unprecedented levels in the Iraqi market, monetary and governmental authorities in Baghdad face a challenge that necessitates coordination between fiscal, monetary, and regulatory policies to curb currency volatility, while simultaneously working to calm markets and restore public confidence in the Iraqi dinar, in an attempt to push the exchange rate toward more stable levels in the coming weeks. (LINK)
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author. If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © Dinar Chronicles
