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Iraq submits a proposal to compete with the world economy


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Thursday, 25 November 2021 2:02 PM

Baghdad / National News Center

Today, Thursday, the Ministry of Commerce announced that Iraq has submitted a proposal to form an economic bloc of three countries, indicating that the goal is to compete with the economies of the world.

A spokesman for the Ministry of Commerce, Muhammad Hanoun, said in a statement to the official agency, followed by the “National News Center”, that “Iraq raised during the Economic Forum for Investment and Contracting in Turkey the importance of forming an economic bloc from the regional countries (Iraq, Turkey and Iran), indicating that” the aim of forming the bloc As an economic competitor that competes with the economies of the world because of the economic effects that these countries have.”

He explained, "Iraq presented its vision of forming an economic bloc to compete with economic developments and confront other blocs," noting that "the region needs an economic bloc that possesses wealth, money and labor to compete with the world's economies through an economic bloc capable of confronting economic blocs that already exist."

He added, "Iraq, through the Ministry of Trade, put forward an idea in Turkey to form an economic bloc," noting that "it will be presented in the form of a proposal through the Council of Ministers or the Ministry of Foreign Affairs and our commercial attaches, and communication will be made with countries in order to exchange ideas, information and how to form the bloc. What are the qualifications for the ability to face problems?

Hannoun added that “the Ministry of Commerce seeks for the economy to lead the policy, and therefore the economy today is the engine of the world’s economies, explaining that” the first step began in Turkey and was an Iraqi message that the economy must play a key role in political engines and a protection tool. The region, through compatibility with other blocs, needs resources and wealth in the region.”

He stated that "Iraq possesses great and enormous wealth that allows it to be a major economic player," pointing out that "there are problems that have had a dimension of economic backwardness and the lack of a clear economic vision. First, towards strengthening economic relations, and then towards the world.”

Hanoun stressed, "the need for Iraq to return to an important economic player, and all indicators allow it to be able to compete and enter into one of the important axes that run the wheel of the economy in the world," noting that "the Iraqi delegation in Turkey stressed the need for international companies to enter Iraq to invest to build Factories, importing machines and equipment, relying on the national product, self-capacity, and rehabilitating banks, and this was discussed in Turkey to benefit from the Turkish expertise.”

He explained, "Iraq needs well-thought-out decisions that have the ability to change through an economic policy that allows it to benefit from its experiences and the competencies of its children."

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Interesting proposition, would be good to see regional cooperation like this. 

Hopefully the USA doesn’t interfere and start a world war over the idea that countries can cooperate without their permission. Would be terrible to see the fear of America trying to enforce international monetary sanctions react inappropriately and destabilizing the region when they want to cooperate.

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2 hours ago, yota691 said:

Happy Thanksgiving DV

Happy Thanksgiving Yota, I/we are truly thankful for all the blessings we have in our lives, but, we are extremely thankful to have you here with us. Enjoy the holidays, Love, joy, and happiness to you and your beautiful family 🙏

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52 minutes ago, DoD said:

Well thank you Carrillo and your liberal BS is as boring as ever…

Hun, you don’t have clue who I am or what I know and could give a shi$ about what you think of my perspective on anything…good day 

Comon mann. Some people love high taxes, live struggling check to check, living around the homeless, drugs, crazies, illegals, crime. Oh, unless you live in an upscaled community with a nice secure wall and security. Otherwise, all you can do is escape a blue state of California like I did. 


Edited by jg1
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16 hours ago, yota691 said:

the need for Iraq to return to an important economic player, and all indicators allow it to be able to compete and enter into one of the important axes that run the wheel of the economy in the world," noting that "the Iraqi delegation in Turkey stressed the need for interna

this is all we need to know oh and when?

Edited by screwball
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