Ottawa, June 05: Canada has announced it had lifted economic sanctions against Iraq, two weeks after the UN Security Council voted to do the same. "Restoring commercial ties with Iraq is an important priority that will bring benefits and opportunities to both Iraq and the international community," International Trade Minister Pierre Pettigrew said in a statement yesterday. "From the beginning, Canada has been committed to helping rebuild Iraq. This significant first step will permit Canadian companies to participate in reconstruction efforts," he said. The UN Security Council voted May 22 to remove international sanctions imposed on Iraq after its 1990 invasion of Kuwait. The council left in place restrictions on arms transfers. Bureau Report