Iraq is actively working toward implementing ASYCUDAWorld across all its customs sites by mid-2025, as part of a broader effort to modernize customs processes and boost trade efficiency.
The Ministry of Finance is making progress with automating its programs, and is currently implementing the ASYCUDA (Automated System for Customs Data) system within its customs sector. This system aims to modernize customs operations, improve revenue collection, and facilitate trade.
ASYCUDA is a computerized customs management system that covers various foreign trade procedures, including declarations and accounting.
Iraq’s adoption of ASYCUDAWorld at key shipping ports like Umm Qasr and other customs sites is a transformative step toward modernizing its trade infrastructure. The system is already yielding significant results, such as increased customs revenue and higher import volumes, and is poised to expand nationwide by mid-2025. By aligning with international standards and improving efficiency,
ASYCUDAWorld enables Iraq to strengthen its position in global trade, attract investment, and reduce economic reliance on oil. The sources cited provide robust evidence of the system’s implementation and its positive impact on Iraq’s international trade capabilities.
Yes, many countries are exploring and implementing the use of their own currencies within the banking system to align with evolving international standards and potentially move away from the dominance of the US dollar.
This is happening through the development of Central Bank Digital Currencies (CBDCs) and the increasing use of national currencies in cross-border payments.
It remains to be seen if the dinar will replace the dollar in these shipping port transactions. The current trend would say so, but many geopolitical tensions are still in flux. And, it is too early to tell what is about to happen in Iraq at this time.
Watch the water.
© Goldilocks
https://www.iraq-businessnews.com/2025/04/02/iraqi-customs-implements-new-measures-to-boost-trade/#:~:text=Iraq's%20General%20Customs%20Authority%20has,reduce%20delays%20and%20streamline%20processes.
