. /.  WORLD TRADE  
ORGANIZATION  WT/MIN(05)/ST/167 
17 December 2005 
 (05-6184) 
MINISTERIAL CONFERENCE 
Sixth Session Hong Kong, 13 - 18 December 2005 Original:   English 
 
  
IRAQ 
 
Statement by HE Mr Abidul Basit Kareem Mauloud
 
Minister of Trade  
 
(Speaking as an Observer) 
 
 
It gives me great pleasure on behalf of the Iraqi delegation to start my speech with expressing 
congratulations and deep gratitude for your chairing of the meeting. 
 
I would like to express thanks and appreciati on for the warm hospitality and good reception 
we have received by the host country Hong Kong, China.  
Accession to the WTO is an important step for Iraq towards integration into the world 
economy.  Iraq is rejoining the world after decades of  isolation.  Accepting Iraq in the WTO will give 
a positive signal for the Iraqi people.  It is also a step, no doubt, welcomed by the world at large. 
 
Since the fall of the Saddam regime, Iraq has adopted swift steps of economic reform 
changing its economy from a centralized command driven to free market economy.  Steps are 
underway to encourage private sector, create a liber al environment, encourage the flow of much 
needed foreign investment, and create conditions  of free market access and free liberal trade. 
 
These reforms also include custom tariff reduction,  the legislation of foreign investment law, 
reform of the banking and insurance systems and the le gislation of laws to secure intellectual property 
rights, patents, and trade marks.  Legislation has also been enacted to  improve the commercial 
environment facilitating company registration both local and foreign.  Other relevant reforms such as 
reform of the capital market have also been taken.  
Iraq ranks second in the world in proven oil reser ves and the tenth in natural gas.  It also 
benefits from a highly educated human resources.  These and other endowments, such as agriculture, 
give Iraq a great opportunity to be an active participant in international trade.  
We are fully aware that a lot more needs to be  done in Iraq.  The process of accession into the 
WTO presents us with an opportunity to further understand and implement economic reform in line 
with best practices as is required by the WTO. 
 
Iraq currently has an unemployment problem.  We  are focusing our attention on the creation 
of new jobs through the encouragement of the private sector, reform of the public sector and State owned enterprises and through the encouragement of  foreign investment.  All these policies are 
currently centred on the rehabilitation and reconstr uction of the damaged infrastructure in Iraq. 
 WT/MIN(05)/ST/167 
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 We are pinning our hopes on revitalizing the Iraqi private sector which has suffered for 
decades from detrimental centralized economic polici es.  The whole economic environment is being 
changed to encourage the private sector and bui ld a transparent efficient market economy. 
 
Let me assure you that economic reconstructi on in Iraq is gaining momentum despite the 
constraining security situation.  Political reconstruc tion and the building of a democratic system are 
underway.  Millions of Iraqi people went to the ba llot boxes last Thursday, December 15, to freely 
elect a new parliament which will appoint a new gove rnment for a four-year term.  This is another 
milestone in the process of democratic reconstruc tion.  The adoption of a modern constitution last 
October was another milestone.  Th is constitution laid the legal founda tions for a democratic federal 
political system in Iraq, one that secures huma n rights and stresses a free and modern economic 
system.  These political successes will enha nce economic recovery in my country. 
 
While it is the first time Iraq is participati ng in WTO ministerial meetings and while it still 
has only an observer status, we would like to expr ess our support for calls stressing the development 
aspects of international trade, especially as regards to agricultural trade policies, removal of export 
and other subsidies and tariff re duction in developed countries.  We also see the importance of 
enhancing the exports of non agricu ltural products from the developi ng countries.  As a developing 
country we also stress the importance of preferential treatment granted to LDCs.  
We believe that the WTO must fully address deve lopmental issues and concerns in order to 
help less developed and developing countries co mbat poverty and achieve higher growth rates. 
 
We also hope that our friends Member count ries and representatives of international and 
regional organizations offer Iraq assistance and t echnical support to exped ite joining the WTO. 
 
Let me also utilize the opportunity to congrat ulate our brothers in Saudi Arabia and our 
friends in Tonga for their recent accession into the WTO. 
 
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