LAUNCH OF THE “MERCHANT PLATFORM” IN IRAQ: A DIGITAL STEP TO SUPPORT THE ECONOMY AND DIVERSIFY TRADE
The Prime Minister’s economic advisor, Mazhar Muhammad Saleh, confirmed on Thursday that the electronic merchant platform represents a real test of Iraq’s ability to turn economic ambition into reality, while noting that Iraq is witnessing a remarkable expansion in its trade partnerships.
Saleh said in a press statement that “in a step that reflects a serious trend towards modernizing the economic structure, Iraq announced the launch of the electronic (Trader Platform) and the activation of automation procedures, within a strategic path aimed at facilitating trade and enhancing our country’s integration into the regional and international economy.”
He explained that “(the Merchant Platform) does not merely represent administrative development and high-level governance in transparency, accountability and participation, but rather indicates a qualitative shift in the philosophy of managing the economy, from the traditional pattern based on complexity and bureaucracy, to a more efficient digital model that keeps pace with the requirements of modern market systems that are explicitly stipulated in the constitution.”
He pointed out that “the electronic platform (the merchant platform) is a pivotal tool for empowering the private sector and advancing it institutionally, as it provides an integrated electronic environment for issuing import and export licenses, adopting the (one-stop shop) system for registering companies, in addition to providing banking facilities and loans that support commercial activities, which would reduce time and costs, stimulate investment, open the door to a wider segment of entrepreneurs and improve market climate standards in accordance with the global requirements of the World Trade Organization, the World Bank and other international partners.”
He added, “This step coincides with positive economic indicators, as Iraq continued to record growth in the volume of its foreign trade, which exceeded $65 billion, with a remarkable trade surplus driven by the rise in oil exports in the past few years. This performance also contributed to strengthening Iraq’s position among Arab and global economies, reflecting promising potential if it is properly invested.”
He pointed out that “the real challenge lies not in the size of the numbers, but rather in their nature, as exports still depend almost entirely on oil, which makes the economy vulnerable to the fluctuations of global markets. This is where the importance of the ‘Trader Platform’ comes in as a means to support the diversification of the economy, by facilitating non-oil trade and encouraging local production.”
On the regional relations front, Saleh affirmed that “Iraq is witnessing a remarkable expansion in its trade partnerships, whether with Arab countries or neighboring countries, indicating the restoration of its role as an active economic center. This trend is reinforced by the (Development Road) project, which is expected to transform the country into a strategic hub for transport and trade, linking the Gulf, Turkey, and Europe.” He explained that “the relevant official bodies are committed to the success of these projects with precision and to ensuring their actual implementation, providing a stable legal and regulatory environment, in addition to combating bureaucracy and removing obstacles to any real economic reform.”
He pointed out that “digital transformation in the trade sector is not a luxury option, but an inevitable necessity in a world that is rapidly moving towards a digital economy. If this step is properly invested, Iraq has a real opportunity to move from a rentier economy to a diversified economy that is more sustainable and competitive.”
He concluded by saying: “The (Trader Platform) represents a serious test of Iraq’s ability to translate its economic ambitions into tangible reality. It will either be a gateway to a modern economy, or it will remain just a promising project added to the list of incomplete opportunities.”