May 30, 2007

Iraqi Trade Minister Abdul Falah Hassan al-Sudani described on Tuesday as a success the Iraqi delegation's negotiations with the World Trade Organization (WTO) that could end with Iraq’s joining to the international organization.

“The minister met in Geneva with the WTO experts and explained procedures and laws passed by Iraqi authorities to organize the economic and commercial process in the country,” the minister said in a statement released by the ministry and received by the independent news agency Voices of Iraq (VOI).

“The negotiations ended with complete understanding by the WTO team to the recent economic procedures taken by the government to organize the economic and commercial work which could lead Iraq to be a member of the international organization,” the minister explained.

“The Iraqi delegation answered every question and inquiry regarding investment issues in Iraq, oil projects, taxes and explained the procedures taken nowadays to facilitate the trade exchange with all countries,” al-Sudani noted.

“The delegation also explained the mechanism to register companies in Iraq. A total of 200,000 companies have been registered since 2003 till last year,” he also said, noting that this shows great flexibility in registering companies.

“There are other procedures that could be taken regarding protecting copyright or trademarks,” the trade minister highlighted.

“The government has a draft law for copyright and patent on an invention but it is not suit the WTO regulations nowadays,” he stated.

Source: VOI

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