Specialists: Customs duties are key to economic development

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Specialists: Customs duties are key to economic development

19/3/2018 12:00 am   Baghdad / Hussein Thugb   welcome from the public and private sectors to the measures of the Council of Ministers aimed at protecting the national product, Adin that the activation of national industry the most important axes of economic development sought by Iraq in light of the availability of the ingredients of national production,  Ministry of Industry and Minerals announces new government decisions to protect local products and address dumping of imported products The  director of the media and public relations center in the ministry Abdulwahid Alwan Al-Shammari said that "the Ministry of Industry and Minerals succeeded in harvesting the fruits of its efforts and sound plans to promote the local industrial reality and achieve tangible achievements added to the series Achievements over the past period with new decisions to support national industry and local production. " Corporate Products He pointed out that "the Council of Ministers recently voted on a number of resolutions containing protection requests for a number of products of companies in the industrial sector, public and private and mixed, noting that the Council of Ministers ratified the protection of the products of distribution transformers and the capacity and electrical measurements produced in Diyala General impose an additional customs duty by 10% Of the value of the unit of measurement of the mentioned products imported to Iraq from all countries and originators and obligating the Ministry of Electricity to purchase these products in a systematic manner. The imports of the white sugar product were also covered on the condition of obtaining the import license from the General Company for Exhibitions and Commercial Services Whether the importer is an official or a mixed or private sector   . " The cabinet also voted to impose an additional customs duty of 28 percent of the value of industrial sponge and an additional customs duty of 20 percent, and a customs duty of 82 percent of the unit of measuring the product of imported energy drink to Iraq from all countries and originators for four years without reduction. Local manufacturing deputy economic head of Baghdad , a forum on behalf of Jamil Antoine said that " the imposition of tariffs on manufactured materials is the first step on the right path for the advancement of the national economy by rotating wheel abilities manufacturing," Mbia said , " The first step paves the way for steps accelerate local manufacturing wheel and make it supportive And maintain the capital cycle inside Iraq, and this strengthens the financial capabilities and raise its monetary reserves to levels that raise international confidence in our economy. "  Antoine urged "the importance of working towards the development of industrial joints that enter the stages of production quickly and meet the need of the local market," pointing out that "the activation of national industry key to solve all economic problems of the association with other sectors, and we should only work in directions that promote trends to revive thousands of plants stalled Which is a qualitative extension of local markets. " Among other challenges , the concerned industrial affairs Ahmed Al - Attar pointed out that " the signs of success in the industrial sector began to loom on the horizon , despite the challenges faced among which the most prominent commodity dumping which is accompanied by the reality of the local market for a long time." He pointed out that "the advancement of the reality  of industrial production represents the basis for a broad development work looks forward to Iraq during the coming period, and can be achieved  This is in more than one industrial joint distributed all over Iraq, where you find industries that have done their activities despite the challenges including the automotive industry, electrical industries, rubber and kabbalat .. Which requires us to create a purely import policy that harmonizes and requirements of activating the national industry and maintain the balance of supply and demand within Iraq. Covers demand and Attar warned that " the imposition of duties to imported products, which can cover the demand for a large proportion of them through local factories is extremely important, it comes quickly and eat it addresses the economic problems affecting the country."