Iraq’s accession to the WTO: Commitments and implications

Iraq has kicked off the procedures to accede to the WTO through the organization’s full working party accession process. In its accession, Iraq is expected to agree to an arduous package of legal and economic reform. Having plunged into the WTO with the belief that accession is its best hope for a prosperous future, Iraq will now face many challenges. Some industries may lose out to competition. Yet liberalizing its market and integrating its economy with the rest of the world will ultimately benefit Iraq because it will stimulate reform and provide trade protections it otherwise would not enjoy. Iraq has made a wise investment by negotiating for WTO membership. Iraq’s accession terms could be rigorous, but they represent not only a cost, but also an investment. WTO membership can be a helpful tool for achieving greater prosperity for Iraq because it encourages progressive domestic policies.