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EU Lifts Iraq Trade Embargo


 

  BRUSSELS, July 9 (Xinhua) - The European Union (EU) on Wednesday lifted trade sanctions against Iraq in accordance with United Nations Security Council Resolution 1483 of May 22, 2003.

  The trade embargo, which had been in force since 1996, will be lifted with retroactive effe
ct to May 23, according to an online Newsletter Europe Information Service (EIS).

  The only exceptions are trade in arms and heritage goods, which remain banned, the EIS added.

  EU Trade Commissioner Pascal Lamy said the EU was ready to do everything it can to support efforts to establish a functioning customs authority in Iraq.

  The EU is also considering to offer Iraq the system of generalized preferences, a unilateral tariff system that enables manufactured products and certain agricultural products exported by developing countries to be sold on the EU market with a total or partial suspension of import taxes.

  Since it was imposed 13 years ago when Iraq invaded Kuwait, the total embargo had been amended several times. The final amendment was in May 2002 when the United Nations (UN) decided to maintain the "oil for food" program for the next six months. End

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