The Ministry Of Commerce Announces Plans To Balance The Market And Meet Consumer Needs.
Economy | 06/07/2025 Mawazine News - Baghdad - The Ministry of Trade revealed, on Sunday, its plan to regulate import policy and protect local products. It also confirmed the development of plans to balance the market and meet consumer needs, including adjusting customs duties for a category of imported goods.
Ministry of Trade spokesman Mohammed Hanoun told the official agency, followed by Mawazine News, that "the Ministry of Trade seeks to regulate import policy through a set of plans and procedures aimed at protecting local products while achieving market balance and meeting consumer needs."
He added, "The plans include updating the list of prohibited and restricted goods for import. The ministry periodically reviews and updates the lists of prohibited or restricted goods, in coordination with the relevant sectoral authorities, in line with national production capacities and to prevent the market from being flooded with competing imported goods.
He pointed out that "the ministry has given priority to local products in government procurement, and the ministry adopts a policy of preferring local products in government supply contracts, including ministries and official bodies, in support of national industries."
He explained that "the plans include the effective implementation of the import license system, as import licenses are granted according to well-studied plans based on the needs of the local market and the production capacity of Iraqi factories to prevent random imports that harm national production."
They also include measures to strengthen control over border crossings in cooperation with the General Authority of Customs and security authorities. Control over border crossings is being tightened to prevent the entry of unauthorized or poor-quality goods that harm fair competition."
He continued, "The ministry is adopting a partnership approach with the Federations of Chambers of Commerce and Industry and relevant federations to ensure that import decisions support the aspirations of the Iraqi private sector.
To implement customs tariffs in accordance with protection requirements, the Ministry of Trade is coordinating with the Ministry of Finance to propose amendments to customs duties for imported goods that have a local alternative, thus enhancing the competitiveness of the national product."
He concluded by saying, "The plans include a deliberate openness to international markets while protecting the local market, as the ministry is working to enhance Iraq's trade openness with countries around the world through well-considered trade agreements that guarantee national interests." https://www.mawazin.net/Details.aspx?jimare=263543