U.S. Sees Progress on Investment and Trade Issues in Iraq
Following a recent meeting of the U.S.-Iraq Trade and Investment Council in Washington, D.C., USTR reported that Iraq has agreed to issue 12-month multiple entry visas to U.S. citizens and facilitate visits by Iraq’s National Investment Commission for U.S. investors through six-month multiple entry visas issued by a special office located at the airport. Iraq is also working with the United Nations Conference on Trade and Development to implement a single-window system for business registration that according to USTR could reduce challenges encountered by investors.
On trade, the U.S. encouraged Iraq to reduce unnecessary documentation requirements, use international standards, and reduce its tariff on poultry, in order to improve bilateral and reciprocal market access. The two sides are collaborating on a memorandum of understanding to increase purchases of medicines, medical devices, and equipment, and also addressed rice and wheat imports as well as the transparency of Iraq’s grain tendering process under two memoranda of understanding.
Additionally, the U.S. welcomed Iraq’s decision to reengage in the accession process to the World Trade Organization and to undertake the domestic reforms required to conform to WTO obligations and liberalize tariffs and trade in services.
For more information on trade with Iraq, please contact trade consultant Nicole Bivens Collinson at (202) 730-4956.