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Urgent study to localize gold in Iraq
8/1/2024
Minister of Trade Athir Dawood Al Ghurairi discussed this morning, Thursday, with a number of gold traders the obstacles they face in their work inside Iraq and working to provide the necessary facilities to localize the gold industry in the country.
During the meeting, the Minister of Trade confirmed, according to a statement by the ministry, a copy of which was received by {Al-Furat News}, that “the Ministry of Trade, within its ministerial program and concerned with formulating trade and foreign policy, is working to support and organize the work of commercial sectors, including the gold trade sector, due to its great weight in the country’s economy.”
Al-Ghariri said, “Through this meeting, we want to identify the work mechanisms and obstacles in order to provide the appropriate environment for economic growth and develop policies that contribute to enhancing the position of the gold sector in the local and international market.”
The Minister of Trade pointed out that "the Ministry is ready to cooperate with traders and begin taking steps to overcome obstacles and provide the appropriate environment to achieve the localization of the gold industry within Iraq according to the needs of the market and the consumer, so that this industry returns as it was before, and even stronger, in light of the government's direction to support the commercial and industrial sector in the country."
Minister Al-Ghariri announced, "While speaking about regulating commercial sectors, instructions will soon be issued to regulate e-commerce in Iraq. This is a step towards updating commercial policies and keeping pace with developments in this area to provide a safe and prosperous commercial environment that contributes to driving the national economy."
For their part, the gold traders thanked the Minister for his interest and support, and raised a number of problems and challenges facing their work, expressing their hope that these meetings would contribute to improving and developing this sector.
According to the statement, the meeting resulted in “an agreement to submit a comprehensive study to localize this industry, following the example of developed countries that have been famous for this industry in recent decades. A period of fifteen days was set to prepare the study, and another meeting will be held to explain the study, its basic aspects, and its returns, in order to come up with recommendations to be presented to the relevant government agencies and take the appropriate decision.”
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