MOT: Iraq's accession to the grain trade treaty

Baghdad-INA 

Minister of Trade Alaa Al-Jubouri announced that Iraq had joined the 1955 Grain Trade Treaty, to become an official member of the International Grain Council.

The ministry stated in a statement received by the Iraqi News Agency (INA), that "after continuous follow-up and efforts for several years of negotiations, hard work and the active presence of Iraq in international, regional and Arab economic forums, which was conducted by the Department of Foreign Economic Relations and under the direct supervision of the Minister of Trade, Iraq officially joined the most important treaty To regulate the grain trade between the countries of the world for the year 1995,” noting that “Iraq joined this treaty as of August 11.”

The Ministry also added, "It took all measures and procedures through coordination with the Grain Council, where the accession document was deposited with the United Nations in accordance with the legal contexts followed under Resolution No. (1) regarding the ratification of Law No. (1) of 2021, and thus Iraq's membership was officially announced." on the 57-nation International Grains Council.

MOT in addition to that added , "The benefit of joining the Grain Council includes providing opportunities to access all prices related to global markets and directly, especially with the member states affiliated with the Council, as well as providing the opportunity to conclude multiple and bilateral agreements with member states regarding grain trade (wheat, legumes, barley, corn) and others in a way that supports the food security of the country, especially after the growing global challenges of food security, climate change, the Corona pandemic, the Russian-Ukrainian war, and the high rates of materials prices globally, as well as other challenges.