The Minister of Commerce discusses with the Director of the International Trade Center the formula for joint action and support for Iraq to obtain membership in the WTO , 28 FEB

  The Minister of Commerce discusses with the Director of the International Trade Center the formula for joint action and support for Iraq to obtain membership in the WTO

2/26/2024

Today, Monday, in Abu Dhabi, the Minister of Commerce, Atheer Daoud Al-Ghurairi, discussed with Pamela Cook-Hamilton, Executive Director of the International Trade Center ITC in Geneva, the formula for joint action, supporting Iraq’s accession to the World Trade Organization, and strengthening the capabilities of the administrative staff on the economic and commercial tracks.

During the meeting, the Minister stressed the Iraqi government's desire to integrate into the global multilateral trading system to stimulate and revitalize the role of the Iraqi economy by supporting reforms and legislation to be consistent with the market system and enhancing the country's economic capabilities.

Minister Al-Ghurairi pointed out that we in Iraq need to focus support in intensifying training and capacity building to create models from a generation of trained employees who are aware of the vision of the principles and concepts of the market economy to be qualified to lead the next stage in light of the government’s approach to this aspect.

Al-Ghurairi continued by saying: We are happy to work with your team and the support provided to complete the files required for Iraq’s accession to the World Trade Organization, stressing the desire to benefit from the capabilities of the center and its training institute to train and create a diplomatic, commercial generation.

For her part, the Director of the Trade Center expressed readiness to provide more support to Iraq to fulfill the requirements of the next stage in building and strengthening the capabilities of the new generation in accordance with market standards to achieve sustainable development goals and develop the institutional capabilities of the relevant ministries, in addition to strengthening the capabilities of the private sector and small and medium enterprises and supporting youth projects.

And increase their skills, stressing the center’s commitment to Iraq in providing all the support and technical assistance it needs, along with the continuity of joint cooperation, in a way that serves the directions of the Ministry of Commerce in strengthening its work in formulating economic and trade policy. LINK

"RV UPDATE" BY MILITIAMAN, 28 FEB

 Militia Man 

  Article quote:  "Deleting the zeros...does not conflict with its value but needs educational campaigns to proceed it and a traditional period for trading the currency with zeros and the new currency to know the two currencies are equal in value."   If they are going to be equal in value...a dinar is a dinar is a dinar.  A dollar is a dollar.  When it comes to an international stage a dinar is not a dollar, nor is a dollar a British pound or a Japanese yen.  There's a difference in value.  Are they one of each?  Of course they are...But are they valued the same?  Absolutely not...

 They're talking about deleting the zeros again...We're not talking 1, 2 or three articles...

 Article quote:  "The issue of deleting the zeros and splinting the dinar has become a topic that causes a lot of reflection and controversy in economic circles..."  

 If you go from 1310 to something back to a 'previous era'...is a big move ...Article quote: "When this is done correctly we can expect...a strong dinar that is considered a store of value and perhaps even stronger than the dinar that was before 1980."

 Iraq is going to explode with growth.  We all know that...You're going to provide thousands  and thousands of jobs and build 10 industrial cities, millions of homes...it creates a lot of growth.  It creates a lot of jobs...    

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-militiaman-26-feb_02070859503.html

Iraqi Dinar🔥Big Move Preparing Regular Bank To Foreign Trade In Iraqi Di...

The World Trade Organization approves new rules to facilitate the exchange of services, 28 FEB

 The World Trade Organization approves new rules to facilitate the exchange of services

2/27/2024

On Tuesday, the World Trade Organization approved new rules to facilitate the exchange of services between more than 70 of its member countries, despite initial objection from India and South Africa.

 The European Union said in a statement that the agreement will contribute, by facilitating administrative mechanisms and technical rules, to reducing the costs of global trade in services by more than $119 billion every year, according to Agence France-Presse.

 In turn, European Trade Commissioner Valdis Dombrovskis explained, during the thirteenth Ministerial Conference of the World Trade Organization held in Abu Dhabi, that “reaching this result and integrating it into the World Trade Organization was not an easy matter.”

He added, "We faced opposition from two members of the organization, but the 'spirit of compromise' removed the obstacles in the end," without naming the two countries.

For her part, the Director-General of the Nigerian organization, Ngozi Okonjo-Iweala, thanked “India and South Africa for finding a way forward.”

The value of global services exports is estimated at more than $6.5 trillion, representing 23% of total global trade, according to the European Union.

The new WTO agreement applies to the 71 member states that have signed it – representing 92% of global trade in services – but businesses from other member states can benefit from it too.

China, the United States, and the European Union are among the signatories to the agreement, while India and South Africa have not signed it.

Costa Rican Foreign Trade Minister Manuel Tover, whose country led the negotiations on the agreement, considered it an “important stage” for the member states of the organization.

"This is the first result achieved by the WTO in the field of services in more than 25 years. It is a real success story for this organization," he said.  LINK

"RV UPDATE" BY SAMSON & PAULETTE, 28 FEB

 Samson  

Article 1: "The Minister of Commerce discusses with the Director of the International Trade Center the formula for joint action and support for Iraq to obtain membership in the WTO"  Article 2: "For the first time in 20 years...

Iraq participates in the Ministerial Conference of the World Trade Organization"

Paulette 

 IMSO...now that the Federal Court ruled, the Oil and Gas Law is no longer needed.The court wrote the entire Oil and Gas Law in one decision.  

All government employee salaries are paid through Baghdad and all oil and non oil revenues of Kurdistan go to the Federal government.  Nothing more to say or agree to.  "Binding and Compelling".

🔥 Iraqi Dinar 🔥 Breaking News: Dinar RV Finally Happening - Secrets Reve...

The Territory Commercial Bank announces financing Iraq's trade with India in rupees, 28 FEB

 The Territory Commercial Bank announces financing Iraq's trade with India in rupees

2/27/2024  Baghdad

The Territory Commercial Bank announced financing trade between Iraq and India in the rupee currency.

The bank said in a press statement, “We announce the launch of a pioneering initiative to enhance trade exchange between Iraq and India, where trading partners can now conduct their financial transactions in the Indian rupee. This step aims to facilitate and accelerate commercial operations between the two countries by providing simplified and effective financial solutions.”

He added, "Within the framework of this initiative, the Territory Commercial Bank opened an account in Indian rupees with DBS Bank in New Delhi, which allows cross-border financial transactions to be carried out more easily and efficiently. This transformation aims to eliminate the challenges related to currency exchange and reduce transaction costs and the time required to complete them." “This will reflect positively on the efficiency of trade between Iraq and India.”

The bank indicated that we assure our customers that all transactions in the Indian rupee will be conducted in accordance with the laws and directives set by the Central Bank of Iraq, to ensure complete safety and transparency in all operations.

The bank called on companies operating in the field of trade between Iraq and India to benefit from this service, which provides them with the opportunity to improve efficiency and reduce costs.   LINK