Article: “…IRAQ IS PREPARING TO JOIN THE WORLD TRADE ORGANIZATION” Does Iraq need an international currency to join the WTO? No, they do not however, I believe they are attempting to do so prior to becoming a full member of the WTO. Certainly an international currency would make it much easier to trade if you have a currency on FOREX. Quite frankly, I believe it would be extremely hard for Iraq to conduct major trading of goods and services with the rest of the world through the currency process of the auctions and being pegged solely to the US dollar. The risks would be too high and they know it. This is part of the White Paper reforms to go to FOREX.