Iraqi-Lebanese mutual committee resumes meetings after 16 year stoppage

[TrinityeXchange]

I had to tie this article in with the one posted by Yota back in December '14.  I was talking with my Egyptian friend today about the Mid-East.  

 

(not to get off topic) he helped interpret some articles for me and pointed out some flaws in the translation engine.  for instance the article discussing the rise in the iqd value where it mentioned that the iqd would be "difficult currency", he helped me understand that what is really meant is the currency will "not be easy to acquire" which will make it more valuable.  i will post his interpretation if anyone is interested, just let me know.  

 

He pointed out to me some of the countries in the Mid-East that are strong/stable areas to invest and he mentioned that despite the wars and skirmishes consistently happening in Lebanon, it is a strong investment player.  Then I pull up this article today, the timing just blew me away.  

 

==============================

Iraqi-Lebanese mutual committee resumes meetings after 16 year stoppage

January 13, 2015 by Layla Mohammed

 

Baghdad (IraqiNews.com) The Iraqi -Lebanese Mutual Committee resumed meetings after a 16 year stoppage to discuss the means of activating investments in both countries.

 

The General Union of Chambers of Trade, Industry and Agriculture in Arab Countries hosted the meeting at its headquarters in the Lebanese Capital, Beirut.

 

The Iraqi Ambassador to Lebanon, Raad al-Alousi, said during the meeting “The relations between Iraq and Lebanon are deep- rooted and we should appreciate this meeting which came after the last meeting of the committee in 1999.”

 

Alousi mentioned “We have a golden and historical chance today to develop the Iraqi- Lebanese relations on economic, trade and investment levels,” calling to “Study all means of eliminating impediments that hinder returning the relations between two countries to the previous good level.”

 

He stressed “We are stretching our hands for our Lebanese brothers to invest in Iraq.”

 

For his part, the Chief of the Arab Chambers Union Minister Adnan al-Qassar said in his speech at the meeting “I am happy to resume the meetings of the Iraqi- Lebanese Committee in Beirut and I am confident these meetings will achieve success and good results for both countries.” /End/

[aliciadogz]

Thanks good read !

[sandfly]

THANKS HOPE IT WORKS OUT

[moneysoon]

TrinityeXchange,

 

Way to newshound this morning. It is good to have friends from the region. My friend from Iraq, though a pessimist concerning many things, has given me insight to help me better speculate on a few things.

[EagleEye]

would love to see the interpretation your friend had Trinity...can you post it in this thread ???

[Catluver67]

Yes please post : )

[TrinityeXchange]

Here is his translation.

the value of IQD against dollar is rising making some of the countries want to deal with it and is getting better day after day because of the monetary laws that are being implemented by the central bank. he mentions India and neighboring countries want to deal with it. He is expecting that the IQD is going to be an international currency like the dollar. The next weeks it is going to be better and that will increase the trust from the world. India talked to the GOI that they want to deal with the IQD in trade between the two countries instead of the dollar. That is to support both India and Iraqi currencies. Prior the committee expected that 2014 is going to see removing the zeros from the dinar and explains that this is going to happen with working with the central bank. Abdul Hussein - that removing the zeros from the local currency will start 2014 with agreement of the central bank. That is going to lead to reduce the working currency from 4 billion to 1 billion. That is 25% and that is going to make it easier to deal with and easier to move as well as forging the currency will be more difficult. The central bank has mentioned the same thing about removing 3 zeros but the GOI asked the central bank to be cautious. The reason is they are afraid that some forgery might start showing up through the exchange of smaller bills to larger ones.

I asked him which neighboring countries wanted to deal in dinar and he encouraged me to look at Google maps for neighbors who might have an interest against the dollar.

Edited January 15, 2015 by TrinityeXchange

[Laid Back]

We can see iraq continue moving forward.!

Many country wants to invest in Iraq

Many countries are opening embassies in Iraq

Many countries are supporting Iraq to fight terrorism

Go Iraq

Go dinar

Go strong $1.13:1

[TrinityeXchange]

True LB. At this point Iraq's significance monetarily is becoming quite obvious.

[moneysoon]

Good post TX! More confirmation to stay the course.