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With this membership the export of Iraq will increase in the European markets especially the export of crude oil. The investors will invest more than before to produce more products as they have a big option in the mind. The employment opportunities in the country will also increase and there will bring balance in all the sectors of economy.

Iraq is allowed to export its products in the European markets after this membership that was ban before. The economy of Iraq will definitely boost up after the membership because local and foreign investors will invest in the country more than ever. The oil ex[port will reach 7 million barrels per day by 2016 instead of 2017, the target set by Iraq.

The oil policy defined in the annual budget is the main conflict between Baghdad and Kurdistan. According to this new policy, Kurdistan will have to export 400,000 barrels oil per day through Baghdad pipelines and in the failure, the 17% deduction will be made in the final budget of Kurdistan. Kurdistan is not ready to accept this term and consider as against the interest of Kurdistan.

Trading in the local currency has always been useful for the countries. Iraqi currency already have lost its value in the international market and according to Indian trade minister, Indian Rupee has also lost its value up to 17% now.

The discussion of Iraqi dinar is at peak these days due to several big changes in the economy of Iraq at local and international level. One of the biggest changes that we observe in the economy of Iraq is the membership of council of 17 that allowed Iraq to trade in the biggest market of the world. We are all waiting for the development of the economy of Iraq.

It has been reported that Daash has been trying to get control over the oil fields of Syria and Iraq. Daash already controls about 17% of the area that has oil refineries. According to Turkish department heads; " oil is what helped Daash rise to this position." Iraq got divided into three different parts; Kurdistan, northern Iraq which is controlled by the government in Baghdad and the areas that are under the control of Daash.