Experts: Economic Partnerships Are An Important Step To Drive Development.
📌 Economic Partnerships Boost Iraq’s Development – Highlights 🇮🇶🌍
🤝🌱 Key Points on Economic Partnerships:
Iraqi government praised for reviving bilateral partnerships with global capital & organizations 💼🌐
Partnerships are crucial for:
Sustainable development ♻️
Increasing production capacity 🏭
Diversifying income sources 💰
Reducing dependence on rentier economy (oil-reliant) ⛽️🚫
🚧 The Development Road Project:
Major gateway linking Faw Port to Turkey, Europe, and Arabian Gulf 🚢🛣️
Will boost trade, reduce shipping costs, and enhance regional stability & security 🛡️📉
Supported by the official launch of the TIR international customs system (since April 2025) 📦🔒
💡📊 Transparency & Innovation:
Success depends on:
Government commitment & political stability 🏛️
Transparency in implementation 🔍
Focus on innovation, green economy, and clean energy 🌞🔋
Includes tax & financial reforms, private sector growth, and financial inclusion 🏦✨
📈🔮 Future Plans & Global Cooperation:
Iraq preparing 5- and 10-year strategic plans to attract investment and reduce oil dependency 📅💼
International consultations helping with subsidy reform and public fund transparency 🛠️💡
Enhanced ability to negotiate and engage in regional and global initiatives 🌎🤝
🚛⏱️ Trade & Transport Efficiency:
The TIR system improves customs transit, reducing shipping time & costs ⏳💸
Strengthens Iraq’s role as a regional trade hub and corridor 🚦🌍