Experts: Getting rid of CH VII provides investment environment for foreign companies

Posted by on Oct 27, 2013 | Leave a Comment

Are Iraqi funds in foreign banks loose after it had been under the tutelage of America through lifting the country on the list of Chapter VII, and spoke specialists in economic affairs for the possibility of using these funds rather than money demanded by Prime Minister Nuri al-Maliki, through the law of infrastructure,

They stressed that the disposal of the seventh item will allow the country to return to the global market and brings discreet international companies to Iraq for the purpose of work and investment.

A member of the Finance Committee parliamentary Najiba Najib said that “the law of the infrastructure still exists in the parliament and there are attempts to include it again,” noting that “the Parliament to reject this law because it does not want to Liquide future generations large debts may ترهقهم in the future, and that the funds belonging to the country After Chapter VII must be canceled invitations to infrastructure law.

She said Najib told (the term) that “Iraq would emerge from Chapter VII came after his obligations with the rest of the countries where he paid all debts only ten billion dollars will be deducted 5% of all the annual budget of the debt remaining. Pointing out that the problem of the country is not limited to lack of funds but lies in the financial and administrative corruption rampant.

For his part, he said, a specialist in banking affairs Abdul Aziz Hassoun, said that “political differences and the absence of the economic map made the domestic market is far from the global market.

The goldfinch that the restrictions were too harsh has applied to Iraq in a unique way filled with excesses on the
text of a document the United Nations itself, pointing to the existence of some paragraphs have been applied which is not provided for in Section VII, but that Iraq under no power and the goldfinch in a statement b (range), “the global market still impose conditions heavy on the country because it requires an assessment of the countries that Iraq is still in the degree low in the economy despite the abundance of financial Iraq.

stressed the need to be our relations through the competent authorities with the global market in a rational way and realistic useful for Iraq .

Moreover, member of the Finance Committee and the Secretary-General of the People’s Movement Attorney Ali Alsjeri, that Iraq would emerge from the provisions of Chapter VII of the Charter of the United Nations will have significant economic benefits for the country.

And said Alsjeri (of the Agency news): This item behind the great economic damage as pay international companies in various fields of work away from Iraq after being largely financial system and the impact on Iraq’s sovereignty in general.

He added: remove Iraq from Chapter VII to VI سينقله the Rehab development by allowing the world’s largest construction companies for the purposes of reconstruction and therefore Iraq will return to the international community incubator after a break that lasted more than 23 years.

He pointed out: that the positive effects of which will be reflected directly on the State-owned banks that were forced to resort to secondary agents in order to sustain its foreign relations, which would have cost extra money and expressed the hope that this will contribute to the achievement of developmental renaissance in Iraq.

The Iraqi government announced that Iraq would emerge from Chapter VII of the Charter of the United Nations represents the last external obstacle in front of him to regain full sovereignty remains to deal with internal challenges.

It is noteworthy that Iraq would emerge from Chapter VII would make him able to manage his money without international trusteeship would also allow him to return to normal in the international community in terms of processing, especially health equipment and manufacturing, especially military weapons, light, medium and heavy-duty, except banned internationally. For his part, said the decision of the Commission on the economy and investment MP / coalition of Kurdish blocs / Khalil Mahma, that the end of the provisions of Chapter VII, will enable Iraq to recover its funds frozen, and end the tax paid by the people, by the practices of the former regime.

He pointed out that Iraq has fulfilled all its obligations towards Kuwait, which makes it imperative for the international community to fulfill its obligations towards Iraq and the lifting of prosecutions for frozen Iraqi funds abroad.

He added: The people and the Iraqi government has tolerated a lot in order to remove Iraq from Chapter VII and the time now, conveniently out of this limitation, which hurt many citizens, stressing that Iraq would emerge from this decision will prompt global companies owned by the developed countries to come to Iraq for the purpose of investment.

The economic expert Adnan al-Kanani, explained: that out of the provisions of Chapter VII requires urgent pause on the financial sector and private sector banks, which will be faster beneficiaries from entering the global financial market and wider doors.

He (of the Agency news) to: the importance of exploiting the opportunity and develop sector Bashklah the government and private sectors through partnerships and the formation of relationships with leading global banks known.

He added: it was time for the banks to develop their electronic instructions and method of work and foremost a way of thinking and management as well as the expansion of its branch network both inside and outside Iraq, especially in the countries that we have with the trade as strong as Turkey, China, Saudi Arabia, South Korea, Iran, Russia and others, where does not have Iraqi banks there E., with no legal barriers, nor political, nor economic sanctions after today prevent us from communicating with the world. Since the nineties groaning Iraq under the weight of sanctions, since the international embargo that resulted from the United Nations Resolution 661, which was issued on August 6, 1990 due to the Iraqi invasion of Kuwait, and provided for the adoption of economic sanctions stranglehold on Iraq to force his time on the immediate withdrawal from Kuwait. This decision was followed by almost ten consecutive decisions, warning him of the consequences of his stay in Kuwait and the defiance of the international community.

And suffered Iraqis two of these sanctions, which deprived them of food and medicine, as well as all means of progress and technology that reached the world in the era of the nineties of the last century, which led to the deaths of a million and a half million children as a result of hunger and lack of medicine acute and their lack of the most basic means of life.

This siege lasted nearly 13 years where practically ended with the fall of the Baath regime in 2003, Iraq had suffered from severe isolation from most countries in the world politically, diplomatically and economically, but Iraq remained suffering from the effects of hindsight under Chapter VII of the UN Charter. And compared to the suffering of the Iraqi sanctions made Saddam Hussein, one of the richest ten richest in the world.

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