|
6ly410
-
Posts
23,335 -
Joined
-
Last visited
-
Days Won
144
Content Type
Gallery
Forums
Calendar
Store
Musicbox
Posts posted by 6ly410
-
-
Iraq completes requirements to join WTO
- Amr Salem
- February 28, 2024
- Iraq completes requirements to join WTO - Iraqi News
- 2 min
Part of the Iraqi capital, Baghdad. Photo: Shafaq News
Baghdad (IraqiNews.com) – The Iraqi Minister of Trade, Atheer Al-Ghurairi, affirmed that Iraq fulfilled the conditions necessary to become a member of the World Trade Organization (WTO) following the completion of economic reforms and the enhancement of the investment climate.
Al-Ghurairi told the Emirates News Agency (WAM) that Baghdad finalized issues related to goods and services in accordance with the deadlines set for integration into the international trade system.
The remarks of the Iraqi Trade Minister took place during his participation in the 13th Ministerial Conference of the WTO held in the UAE capital, Abu Dhabi.
The Iraqi government expressed interest in joining the WTO after submitting a request to do so in 2004. Iraq needed to be a member of the multilateral international trade system in order to regain its place as a major player in the global economy.
Al-Ghurairi mentioned that an Arab-level gathering would be held to hear about their experiences prior to joining the organization and how to take advantage of its benefits.
In addition to debating the future of the global trade movement in light of current challenges, Al-Ghurairi said that the conference sends a strong message to the countries of the world about the value of joining this organization.
The Iraqi official added that Iraq is attempting to expand its commercial and economic connections around the world in order to create new opportunities for collaboration.
-
1
-
1
-
2
-
3
-
3 hours ago, Bama Girl said:
It’s been my belief they must have an international traded currency to be a full member of the WTO. But, I don’t study Iraq as much as I have in the past so may be in error.
Iraq completes requirements to join WTO
-
1
-
-
The Central Bank of Iraq confirms to Shafaq News the provision of five foreign currencies alternative to the dollar for traders
2024-03-02 07:54Shafaq News / The Central Bank of Iraq confirmed on Saturday that it has provided five alternative currencies to the dollar, for the use of traders to buy their goods from other countries using the currency of each country through the bank.
Deputy Governor of the Central Bank Ammar Hamad told Shafaq News Agency that "the Central Bank provided other foreign currencies to Iraqi traders, namely (euro, Chinese yuan, Turkish lira, UAE dirham and Indian rupee).
He added that "these currencies have become available to traders and the purpose of financing foreign trade, where the trader can now when he imports goods from China pay the Iraqi dinar to the Iraqi bank and through the bank the amount is paid to the Chinese company and factory in Chinese currency.
The Central Bank of Iraq's total sales of hard currency to the US dollar last week amounted to more than one billion dollars.
The correspondent of the Shafaq News Agency said that the Central Bank sold during the past week, and for five days in which the auction opened, one billion and 52 million and 796 thousand and 86 dollars, at a daily rate of 210 million and 559 million and 217 dollars, down from the previous week, as it amounted to one billion and 62 million and 587 thousand and 198 dollars.
-
1
-
3
-
-
Iraq.. Expectations of a decline in the dollar spread and a return to the official rate
{Economic: Euphrates News} Economist, Safwan Qusay, expected today, Saturday, the decline in the dollar difference in Iraq and return to the official rate after a series of financial and economic measures taken by the government of Mohammed Shia Sudanese.
Safwan said {to Euphrates News} that: "The mechanisms of the Central Bank previously did not know who requests the dollar from the irregular market and after legitimizing the process of financial transfer began to demand for dollars in the irregular market enters the electronic platform."
"Gradually, with the control of border crossings and the facilitation of the task of demanding, I think the difference will recede and return to the official price," he added.
"The Central Bank is now investing in spreading financial inclusion and investment by Iraqi banks and spreading (POS) at the level of the sector and the private," Qusai said, stressing that "all government units are currently required to issue credit cards and that the procurement committees buy from their economic units (POS)."
He explained, "Controlling the movement of the dinar and knowing where it comes from and where it moves will help in commercial regulation and enhance the increase in the level of international investor confidence in financial procedures, as we have the file of money laundering and terrorist financing, and currently with the expansion of the circle of financial inclusion, we will be able where the dinar goes."
"There are 70 trillion Iraqi dinars outside the banking system, and when it enters this system, it will turn into a productive dinar, which is what the Sudanese government seeks to achieve," he concluded.
According to its sales table, the Central Bank of Iraq set the cash selling price (1305) dinars per dollar.
Wafaa Alfatlawi
-
2
-
2
-
1
-
-
-
IMF Promises to support Iraq's Digital TransformationEconomic News Agency - IMF promises to support digital transformation in Iraq (economy-news.net)
The Iraqi delegation, headed by Finance Minister Taif Sami, concluded on Thursday its talks with the Article IV mission of the International Monetary Fund (IMF) staff in Amman.
The Ministry of Finance said in a press statement that "during the talks, they reviewed the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development structure, financial sustainability and maximizing non-oil revenues."
According to the statement, the Iraqi delegation stressed that "the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement and customs sectors, and to enhance efforts to participate in the private sector through investment incentives, infrastructure and reconstruction," noting "its intention to continue discussions and consultations during the Fund's periodic annual meetings."
The IMF mission praised "the good progress achieved in many financial and monetary aspects, in the areas of transparency, control, provision of financial statements and rationalization of expenditures, in addition to the return of growth in the non-oil sector strongly during 2023 with a noticeable decline in inflation rates, and its reflection on the decline in food and energy prices."
The mission noted "the positive developments from the return of trade finance operations to normal and the stability of the foreign exchange market following the implementation of anti-money laundering and combating the financing of terrorism controls on cross-border payments," welcoming "government plans aimed at strengthening public financial management, including welcoming the steps taken by the government towards establishing a unified treasury account, improving cash liquidity management and increasing the tax base, as well as reviewing the tariff structure and achieving further targeting in the country." Social support and care."
The mission also expressed optimism that "the level of understanding and progress achieved with the Iraqi government and the steps of coordination and joint consultations that will be completed in the near term will contribute to addressing the financial problems posed by the circumstances of international conflicts and their accompanying economic impacts," explaining that "structural reforms aimed at stimulating economic diversification and creating jobs led by the private sector are pivotal to achieving sustainable and inclusive growth."
According to the statement, priorities include creating equal opportunities for the private sector through banking and electricity sector reforms, reducing distortions in the labor market, and continuing efforts to strengthen governance and reduce the spread of corruption.
Article IV consultations are bilateral meetings held annually between the IMF and member states, after which a team of IMF staff meets with the member country and conducts formal consultations with IMF officials.
Views 144
Added 2024/02/29 - 4:43 PM
-
6
-
-
Parliamentary insistence on legislating investment, oil and gas laws
Information / Baghdad..
Member of the Economy and Investment Committee, MP Muhammad Al-Ziyadi, confirmed on Wednesday that the committee has begun discussing amendments to the National Investment Law for approval during the current semester, indicating that there is parliamentary insistence to approve the oil and gas law.
Al-Ziyadi told Al-Maalouma, “The Economy and Investment Committee has begun making amendments to the National Investment Law, suggesting that the amendments will be completed next week before submitting it to the Presidency of the Council for approval.”
He added that “the Federal Court’s decision regarding the region’s oil prompted the political forces to move to approve the law.” “Oil and gas.”
It is noteworthy that the Federal Supreme Court, in its session held last Wednesday, obligated the Kurdistan Regional Government to hand over all oil-
1
-
5
-
4
-
-
Tomorrow.. Baghdad will host the activities of the “Finance and Banking Services” exhibition and conference
Baghdad / NINA / The activities of the eighth annual “Finance and Banking Services in Iraq” exhibition and conference will begin in the capital, Baghdad, tomorrow, Wednesday, on the grounds of the Baghdad International Fair, under the auspices of the Parliamentary Finance Committee and the Central Bank of Iraq.
The exhibition activities, which will continue until the first of next March, are organized by the Iraq Gateway Company for holding international exhibitions and conferences, in coordination with the General Company for Exhibitions and Commercial Services of Iraq./End 5
-
1
-
1
-
-
House of Representatives: {Oil and Gas} is technical and can be passed
The Parliamentary Oil and Gas Committee pointed out that the oil law is one of the important laws that concerns all of Iraq and not the Kurdistan region alone, noting that its draft contains controversial points that need to be stopped, and despite this, the law can be passed.
Committee member Ali Al-Mashkoor explained, in an interview with Al-Sabah, that "there are seven controversial points regarding the oil law, some of which are administrative, some of which are professional, and the law cannot be proceeded with except by clearing it by both parties," indicating that "one of the administrative disputes in the law is the desire to The Kurdish side should have the right to veto the issuance of decisions."
Al-Mashkour added, "The region's percentage in the budget came from the export value of oil, and now there is no export of the region's oil, not even production," noting that "the financial share is an entitlement separate from the oil entitlement that the region is supposed to pay, but it will constitute a future obstacle in the budget." Although it is a fixed share, as it is the right of the Kurdish citizen."
Al-Mashkoor expressed his optimism in passing the oil and gas law, and said that "the draft can be legislated within an understanding and complementary process, but imposing opinions is incorrect," explaining that "the law was returned to the government without revision or amendment, even if there were disagreements on some of its points." ". Al-Mashkoor stated that "the oil law guarantees the rights of all governorates in the available proportion," pointing out that "some governorates are demanding an increase in their share, whether the request is professional or administrative."-
4
-
9
-
-
1 hour ago, 6ly410 said:
Iraq completes its preparations to join the World Trade Organization
-
2
-
3
-
-
- Popular Post
- Popular Post
It will be influential.” Iraq completes its preparations to join the World Trade Organization
Baghdad Today - Translation
Today, Tuesday (February 27, 2024), the BNN network, which specializes in economic affairs, revealed that the Iraqi government has completed the requirements for joining the World Trade Organization after “improving” its economic and trade conditions internally, in addition to improving investment conditions.
The network said, according to what “Baghdad Today” translated, that Iraq has completed all preparations within the timetable set for it by the organization to integrate its commercial operations with its businesses around the world, stressing that Iraq is now able to enter the global trade market through the organization on a large scale.
It is noteworthy that Iraq submitted an application to enter the organization in 2004, and the application remained pending until the conditions for entry into the international organization were met, which have now ended.
The network says that Iraq “will return to becoming an influential member in terms of international trade and economics through the role it enjoys geographically and economically among the countries of the organization.”
-
1
-
1
-
10
-
11
-
Al-Atwani calls on the IMF and the World Bank to provide the necessary support to Iraq
Al-Atwani calls on the IMF and the World Bank to provide the necessary support to Iraq – Al-Oula News Agency (awla.news)Twitter Share via mail
The Chairman of the Finance Committee, MP Atwan Al-Atwani, called on the IMF and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres.
The media office of the Chairman of the Finance Committee said in a statement received by (First News), that "the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated on Monday evening, via a closed circuit television, in the deliberative meeting of the International Monetary Fund on the financial and economic situation in Iraq."
He added that "Al-Atwani gave a full briefing on the financial and economic situation and the items and programs included in the three-year budget law (2023-2025) that are consistent with the government program to promote various sectors, activate the private sector, encourage investment and support investors, in order to achieve sustainable development."
Al-Atwani stressed, according to the statement, that "the approval of the tripartite budget gave the government great comfort in terms of contracting, implementing projects and attracting foreign companies to implement major projects," pointing out that "the Finance Committee, through monitoring spending, financing and implementing plans and programs, seeks integration between the legislative and executive authorities, because we want this government to succeed, especially as it is moving steadily towards achieving the aspirations of the people."
Al-Atwani pointed out that "the national service government is serious in moving the wheel of the economy and development and has ambitious programs to promote various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in the formation of the public budget.
Al-Atwani concluded his participation by calling on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs and other service sectors that achieve financial revenues for the state.-
1
-
4
-
6
-
-
The Minister of Trade discusses with the Director of the International Trade Center the formula of joint action and support for Iraq to obtain membership in the WTO
The Minister of Commerce discusses with the Director of the International Trade Center the formula for joint action and support for Iraq to obtain membership in the WTO (ninanews-com.translate.goog)
Baghdad /Nina/ Minister of Trade Atheer Dawood Al-Ghuriri discussed on Monday, in Abu Dhabi, Pamela Cook Hamilton, Executive Director of the International Trade Center (ITC) in Geneva, the formula of joint action and support for Iraq's access to the World Trade Organization and Enhance the capabilities of administrative staff on the economic and trade tracks.During the meeting, the minister stressed the desire of the Iraqi government to integrate into the multilateral global trading system to stimulate and activate the role of the Iraqi economy by supporting reforms and legislation to be in line with the market system and enhancing the economic capabilities of the country.
Minister Al-Gheriri pointed out that we in Iraq need to focus support in intensifying training and capacity building to create models of a generation of trained employees who are aware of the vision of the principles and concepts of the market economy to be qualified to lead the next stage in light of the government's orientation in this aspect.
Al-Ghurairi continued by saying: We are pleased to work with your team and the support provided to complete the files required for Iraq's access to the World Trade Organization, stressing the desire to benefit from the capabilities of the center and its training institute to train and create a commercial diplomatic generation.
For her part, the Director of the Trade Center expressed readiness to provide more support to Iraq to complete the requirements of the next stage in building and strengthening the capabilities of the new generation according to market standards to achieve the goals of sustainable development and develop the Institutional capabilities of the relevant ministries, in addition to strengthening the capabilities of the private sector and small and medium enterprises and supporting youth projects and increasing their skills. In strengthening its work in economic and trade policy-making. /Ends8-
1
-
1
-
7
-
-
G O R V - WARKA 💥
-
1
-
2
-
-
no lop - can’t wait to see my bank account again in Warka
-
1
-
2
-
-
go Rv!!
-
2
-
1
-
-
😎🔜🏦 imo
-
1
-
2
-
-
Central Bank Governor denies problem in Iraqi dinar liquidity
economy- Today, 15:39
Baghdad - Waa - Wissam Al-Mulla
Central Bank Governor Ali Al-Alaq denied on Friday that there is a problem in the liquidity of the Iraqi dinar, while pointing to the imminent launch of the new mechanism for the traveler's access to the dollar.
Al-Alaq said in a statement to the Iraqi News Agency (INA), that "what is being raised and rumored about the existence of a problem in the liquidity of the Iraqi dinar is untrue and that the Central Bank continues to conduct the process of responding to requests related to liquidity as well as the Ministry of Finance."
"The central bank is developing a mechanism for passengers to obtain dollars smoothly at Iraqi airports, some of which have completed the system with the presence of exchange companies concerned and banks distributing dollars," he said.
He pointed out that "the new mechanism will enter into force soon, and the traveler will receive the dollar through registration through the platform and receive it at the airport to ensure that the dollar reaches the real traveler
-
1
-
1
-
4
-
ITC hosts Iraq National Trade Forum
21st February 2024 in Iraq Industry & Trade NewsBy John Lee.
With support from the government of Iraq, the International Trade Centre (ITC), a joint agency of the United Nations (UN) and the World Trade Organization (WTO), organized a two-day trade forum to help Iraqi businesses to identify and develop trade opportunities. The Forum was funded by the European Union (EU).
According to a statement from ITC, more than 450 participants from the agriculture and agrifood sectors, business support organizations, international and regional suppliers, and investors, including over 200 Iraqi and international companies, donors and development partners attended the first day.
The second INTF comes after the successful first edition held in 2022 that helped secure participating companies' potential deals worth $2.5 million through more than 170 business-to-business (B2B) sessions, bridging over 70 Iraqi companies with global suppliers and investors. 30% of participant companies that had participated in 2022, returned for the second year.
The B2B event remained an integral part of the INTF to better connect Iraqi micro, small and medium-sized enterprises involved in farming, food processing, packaging and logistics with international and regional suppliers and investors.
These interactions are key for expanding business networks, facilitating business deals, fostering sustainable investments and promoting innovation while sharing best practices from leading Iraqi agribusinesses.
In addition to plenary sessions, high-level panels with practical workshops and B2B meetings, the 2024 edition of the Forum featured a trade exhibition called 'Iraqi Bazaar' that showcased hundreds of locally produced items in a pop-up store.
The label 'By Iraqi Hands' to stimulate the food industry and encourage people to buy more local products and support sustainable development was launched at the INTF. Iraq's Potato Sector Development Strategy was also officially launched on the occasion.
The ITC flagship report, SME Competitiveness Outlook 2023, was also launched globally on 19 February at the INTF. The report focuses on the impact of fragility on the competitiveness and growth of small businesses.
The European Union Ambassador to Iraq, Thomas Seiler said:
"International trade presents a very good opportunity for Iraq to revitalize its agricultural sector, diversify its economy, and achieve sustainable economic growth. By fostering international partnerships and leveraging its agricultural potential, Iraq can become a player in the global market and an even more important economic actor in the region. The European Union will continue to remain a close partner of Iraq and promote its integration in the global and regional markets."
ITC Executive Director Pamela Coke Hamilton said:
"With over one million MSMEs in operation, smaller businesses account for two-thirds of Iraq's private sector jobs. And they provide much more than that: they deliver crucial goods and services for the functioning of the local economy and for the wellbeing of its communities. As hundreds of Iraqi companies connect with buyers and investors at the Forum, they contribute to sustainable, trade-led development in the country and beyond."
ITC Head of Country Programme in Iraq, Eric Buchot said:
"Small businesses forming two-thirds of Iraq's private employment, are key to its economy. The involvement of 300 businesses at INTF 2024 could be game-changing with a fundamental mindset shift. For real impact, fostering competitiveness and a market focused approach is essential."
Deputy Special Representative, Resident Coordinator for Iraq Ghulam Mohammad Isaczai said:
"The success of the Second Iraq National Trade Forum underscores the vital role of Iraqi SMEs in driving economic growth and sustainable development. Through fostering partnerships and promoting innovation, we are paving the way for a more prosperous future for Iraq. The UN is committed to supporting Iraq's journey towards economic diversification and resilience, highlighting the importance of collaboration at all levels. Together, we are building a stronger, more inclusive economy that benefits all Iraqis."
The INTF has become a platform for enhancing awareness of pivotal domestic reforms, aimed at fostering robust private sector development.
-
1
-
2
-
-
4 hours ago, Shedagal said:
Tether and other stable coins will fail causing crypto currencies to crash as they become illiquid. Short-Mid term is that crypto currencies will become worthless
-
1
-
-
-
-
"Joy and optimism" in Kurdish popular circles after the localization of their salaries in federal banks
Politics | Today, 18:56 |
Baghdad Today - Sulaymaniyah
The "positive" reactions in the Kurdish street continued after the decisions of the Federal Court, on Wednesday (February 21, 2024), regarding the localization of the salaries of employees of the Kurdistan region in federal banks, as well as obliging Baghdad and Erbil to pay their salaries.
The Kurdistan region is experiencing a stifling financial crisis that has hit all joints of the economy and most vital sectors, and stopped the construction movement and service projects, due to the salary crisis that has been going on for years, as a result of the lack of agreement between the federal government and the Kurdistan Regional Government.
A decision binding on all authorities
Economic expert Shahuz Omar said, "The decision of the Federal Court is final and binding on all authorities, so the regional government is obliged to implement it."
He added, in his speech to "Baghdad Today" that "this decision will have positive repercussions on all aspects of life in the Kurdistan region affected, and there are sectors that have disappeared due to the salary crisis, because the regional government saves salaries and delays their disbursement."
He added that "the movement of markets will recover, because shop owners, traders and all sectors depend mainly in the cities of the region on employees and tourists, and the movement of commercial and market movement has become almost paralyzed during the recent period."
He explained that "if the Kurdish employee in Kurdistan receives his salary every month and through the "Mastercard", he will stabilize financially, and thus this stability will be reflected in the gradual return of life to the movement of the market, especially in luxury items, which stopped their work, and increased unemployment rates."
On the other hand, Kurdish social researcher Tanya Kamal confirmed that, "The decision of the Federal Court will reflect positively on the situation of the family and Kurdish society in general."
She told Baghdad Today that "the delay in the payment of salaries, deductions and savings had negative consequences on the situation of Kurdish families, created psychological problems, and even increased divorce rates, and created an atmosphere that is not suitable for the family."
She pointed out that "the payment of salaries every month through the MasterCard and by a decision of the Federal Court will contribute to the return of stability to the Kurdish family, and will gradually reduce the social impact."
The decision is very important
The employees of the region believe that this decision is very important, and commend the decision of the Federal Court that did justice to the employee in Kurdistan, who has been suffering from suffocating crises for years.
Sulaymaniyah teacher Awan Mohammed said, "This decision is very important, and its benefits are numerous, and it will restore stability and life to the Kurdish citizen."
He explained in his speech to "Baghdad Today" that "the localization of salaries in federal banks is very important, because the employee in Kurdistan will enjoy the same privileges enjoyed by the employee in the central and southern provinces of loans and the purchase of cars in installments and others."
Citizens and workers in other non-functional specialties expressed their joy with the decision, considering it positive and will reflect on the lives of the general people in Kurdistan, from taxi drivers, public transport lines, merchants, and shop owners, as well as the return of life to the real estate market, industry and investment in general.
Earlier in the day, the Federal Court issued a final and binding decision to the federal government and the regional government, to pay the salaries of Kurdistan employees from federal banks, to be deducted from the region's share in the budget.
-
1
-
3
-
1
-
-
It will be influential.” Iraq completes its preparations to join the World Trade Organization
in Iraq & Dinar Related News
Posted
🤔