Iraq continues to rely on oil to build its economy unilaterally from joining the WTO

BAGHDAD (Iba) predicted economic expert Majid picture, Iraq continues to rely on oil to build its economy unilaterally  from joining the World Trade Organization.

He said Suri told the independent press (Iba): that Iraq’s economy by relying on a single source is oil will make it economical  and not clearly defined, adding: The terms of accession to the WTO global trade is economic integration, which relies on multiple sources of economy-generating income.

He added: that Iraq’s economy needs to important legislation of laws that did not vote on it until now also needs to be a strong trade balance and the balance of capital and strong economic governance enables Iraq to join the organization without any problems costing Iraq, many if teamed with these ingredients.

He pointed out: that Iraq depends on oil imports in building the state budget, leaving other sectors such as industry, agriculture, without attention to what makes Iraq’s economy is integrated and undiminished Baktaath income-generating activities.

Confirmed: that any reduction or disruption in global oil prices will Iraq’s economy to a major setback as a result of reliance entirely on oil.

Suri continued: that the WTO will provide all the facilities of the country is bound to it but only if the existence of economic integration of the country, stressing the need to adopt Iraq on income-generating sectors to complete building its economy and join the World Trade Organization.