Commission on economy and announces its reservation for any action that would delay the adoption of the law on customs tariff

[SocalDinar]

Commission on economy and announces its reservation for any action that would delay the adoption of the law on customs tariff

On the lion -17/07/2012-8: 41 pm | Hits: 21

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Head of the Parliamentary Commission of economy and investment, Ahmad Al-alwani customs tariff law that the application will have positive returns on the economic realities of Iraq.

Al-alwani said in a press release sent to {Euphrates news} on "customs tariff activation code correctly reflected the reality of the Iraqi economy through higher good federal Treasury on the one hand and on the other hand will help to direct the State to focus on and develop non-oil provinces."

"Otherwise we declare our reservation on any action that would delay implementation of the law above his grave harm to the economic reality and the general budget by spending a lot of financial returns, let alone that such actions serve a specific category controls the Iraqi market by keeping its doors open market for both HP and bear".

Al-alwani called on all the parties concerned of the legislative, Executive and to "seriously take a pause for law enforcement as it otherwise it will lead to economic disaster consequences was not in addition to the overwhelming market mess".

He was the spokesman for the Iraqi Government to Al-Dabbagh announced on 26 June, the Cabinet approved a Bill to postpone the application of the law of customs tariff when conditions applied to the statement of the Cabinet of Ministers ".

The decision was controversial because some felt that the protection of goods inside the Iraqi citizen plus it will protect Iraqi industry while others in that its application will lead to higher prices for most articles.

Iraq relies heavily on imports to cover the Iraqi market for all goods and materials.

The customs tariff is applied starting next July.

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http://www.microsofttranslator.com/bv.aspx?from=ar&to=en&a=http%3A%2F%2Fwww.burathanews.com%2Fnews_article_163356.html

[Butifldrm]

So Social Dinar, does that mean the tariffs are in effect now, because I find it hard for Iraq to ain immediate entrance into the WTO delaying the tariffs till next July. JMO

[gamaray]

I think parts of this article maybe recycled, as they are referencing "next July" which I would thing would be this July.

[SocalDinar]

So Social Dinar, does that mean the tariffs are in effect now, because I find it hard for Iraq to ain immediate entrance into the WTO delaying the tariffs till next July. JMO

The WTO is not transparent and who knows what been agreed on. Sounds like all back room deals.

This is off WTO site

How to become a member of the WTO

Article XII of the WTO Agreement states that accession to the WTO will be “on terms to be agreed” between the acceding government and the WTO. Accession to the WTO is essentially a process of negotiation — quite different from the process of accession to other international entities, like the IMF, which is largely an automatic process.

Because each accession Working Party takes decisions by consensus, all interested WTO Members must be in agreement that their individual concerns have been met and that outstanding issues have been resolved in the course of their bilateral and multilateral negotiations.

All documentation examined by the accession Working Party during the process of negotiation remains restricted until completion of the process.

http://www.wto.org/english/thewto_e/acc_e/acces_e.htm

[Butifldrm]

Thanks Social Dinar, Looks like these are desperate times for emerging economies and from previous articles, the WTO has dropped some of their previous standards to accept less economically developed countries.

[SocalDinar]

I think parts of this article maybe recycled, as they are referencing "next July" which I would thing would be this July.

Gamaray

This was posted by Tonydowntheshore earlier today

He said the parliamentary Finance Committee member Faleh Al Sari said 99% success rate of replacement of the process and delete the zeros in the world.

That the money supply in the markets is the large mass when compared to the size of trades and the magnitude of the current budget and investment budget yearly, indicating that it was successful experiences and influenced a positive impact on the price of sale and purchase of the currency and we see very necessary to have a well defined plan.

Said Sari’s newspaper “integrity of electronic” Today, more than 35 trillion dinars from the currency in the market now and the process of buying and selling requires citizens or any other party with a large amount of money so it became very necessary to be replaced by the currency will also be motivated influential in the psyche of the citizen and the confidence of global markets in Iraqi currency.

He explained that the Commission confirm that 99% of the experiments in the switching rates for many countries, the replacement of its currency, or that the deletion of zeros, July 17th, 2012BAGHDAD / electronic integrityHe said the parliamentary Finance Committee member Faleh Al Sari said 99% success rate of replacement of the process and delete the zeros in the world.

That the money supply in the markets is the large mass when compared to the size of trades and the magnitude of the current budget and investment budget yearly, indicating that it was successful experiences and influenced a positive impact on the price of sale and purchase of the currency and we see very necessary to have a well defined plan.

Said Sari’s newspaper “integrity of electronic” Today, more than 35 trillion dinars from the currency in the market now and the process of buying and selling requires citizens or any other party with a large amount of money so it became very necessary to be replaced by the currency will also be motivated influential in the psyche of the citizen and the confidence of global markets in Iraqi currency.

He explained that the Commission confirm that 99% of the experiments in the switching rates for many countries, the replacement of its currency, or that the deletion of zeros, adding that the beginning of this month is a time appropriate to replace them as a mid-year and allows for the new currency that down in the markets before the preparation of the state budget for 2014, which give new impetus to the currency and high purchasing power as the issue does not depend only on the delete, but there is a small and diverse currencies will contribute to the speed of trading.

Almost sounds like they are talking July next year in both articles. Hope I'm wrong

Edited July 18, 2012 by SocalDinar