Healthy economic environment needed for trade, investors, & WTO accession, says Iraq Ministry of Commerce

Posted by on Oct 28, 2013 | Leave a Comment

14/10/2013 (00:01 pm)
Trade: government facilities for traders and investors need to be “vaccinated” with a number of economic measures

The Ministry of Commerce, yesterday, the Iraqi government the need to “vaccinate” the facilities provided for Trade and investors Iraqis and foreigners through the addition of some of the actions to serve the interest of the parties, and among that among those procedures open exchange between Iraqi banks and international banks, called for the provision of infrastructure for the establishment of trade relations and investment is consistent with Iraq’s transition to a market economy.

Said Iraqi Trade Minister Khairallah Babiker said in an interview to the (long-Presse) on the sidelines of a visit to Wings Baghdad International Fair, which opened the tenth day of this month, said that “Iraq has the potential human and material huge and walking بسياسية clear economic and provides the infrastructure to establish business relations and investment in line of Iraq’s transition from a totalitarian to a political economy. “

He Babacar that “there are many laws and regulations that facilitate trade between Iraq and other countries is the need to be vaccinated procedures from the side Iraqi and our economists brothers. “

He said Iraqi Trade Minister that “these laws are summarized points several most important first remedy the situation of commercial agencies of foreign granted to non-Iraqis in the countries of the region because of the policies of the former regime and the imposition of economic sanctions on Iraq, which went on to dealers Iraqis and Iraqi companies, and now including we emerged from Chapter VII, so there is no justification for the continuation of this situation. “

He Babacar that “The second thing is that we call on to deal with the Iraqi market, and without Broker direct investment in the Iraqi market and market siblings, without the presence of an intermediary government last , as well as facilitate the granting of visas mutual with the parties any between Iraq and siblings economists in order to deepen economic relations. “

He Babacar “But it fourth, we see that Iraq needs a banking system effectively in order to promote and assign investment business and economic development in Iraq, and this needs to the opening exchange between Iraqi banks and international banks, and we are confident that the Iraqi banking system has fully prepared to deal with the international banks. “

said Babacar that “in the event of the application of those things, we guarantee the growth of trade and investment in Iraq and periods of record too and unchallenged” He pointed out that “the Iraqi government has paid great attention to put forward substantive.”

It was the Economic Committee in the Iraqi Parliament promised, on Monday (23 September 2013), Iraq’s accession to the World Trade Organization “Troydha of the Iraqi economy weak”, and stressed the need for the government ” creating an environment suitable investment and reform tax laws and fees, “as he emphasized the economic expert that Iraq’s accession to the organization” will open global markets for the country, “calling to attend Iraq World in all forums to stimulate the economy and not rely on oil.

was specialize affairs of trade in the province of Diwaniyah confirmed , in (May 13, 2013), “Iraq’s need” to join the World Trade Organization, while The Ministry of Commerce said joining the organization “will move the Iraqi economy,” “ruled out” businessmen the possibility of it on the ground until “after fifty years,” and attributed the reason to “the absence of legislation” in a position to put Iraq within the international system, demanding the cancellation of “the Ministry of Commerce.”

and announced that the World Trade Organization for its inception in 1995, and is one of the smallest organizations global age, where the WTO is the successor to the General Agreement on Tariffs and Trade ( GATT), which was established in the wake of World War II.

, and despite the fact that the WTO is still modern, the multilateral trading system, which was originally set up under GATT has reached age fifty years ago, and celebrate the golden jubilee in Geneva on May 19, 1998 In the presence of many Heads of State and government leaders.

saw twenty years exceptional growth in world trade, as exports of goods average (6%) per annum and helped GATT and the WTO to establish a trading system strong and prosperous, which contributed to the unprecedented growth.

noteworthy that Iraq has witnessed after 2003 , a state of openness without restrictions on the world which led to flooding the domestic market with goods from around the world unsanctioned, as well as a decline in domestic production and public sectors as a result of the security chaos and the scarcity of energy and fuel, failed efforts of government agencies concerned, so far, including standardization and quality control and the ministries of environment and health in the face of a flood of shoddy goods, despite the efforts made in this regard.

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