Thurs. 25 April Bruce
MINISTER OF COMMERCE: COMPLETION OF THE FILES FOR THE INITIAL OFFER OF GOODS AND SERVICES WITHIN THE FILES FOR ACCESSION TO GLOBAL TRADE
The Minister of Commerce and Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, Atheer Daoud Salman Al-Ghurairi, announced the completion of the files for the initial offer of goods and services within the files for joining the organization.
Al-Ghurairi said in a statement received by the Iraqi News Agency (INA), that “the two files for initial offers for goods and services have been completed and officially submitted to the Secretariat of the World Trade Organization through official channels,” stressing that “this important step comes in the context of the Iraqi government’s efforts and its program aimed at Promoting international trade and achieving sustainable development, which reflects its commitment to ensuring global economic integration and expanding economic partnerships.”
The minister continued, “The National Committee, the technical committees emanating from it, and the accession team in the ministry were able, within a short period, to complete these files and submit them to the organization in preparation for holding the third meeting of the working group on Iraq during the current year, 16 years after the date of the second meeting of the group in 2008.”
Al-Ghurairi pointed out that “the World Trade Organization (WTO) and the international circles welcomed Iraq’s return to the negotiating table, especially since it is one of the important Arab economies that is still outside the organization, as he described this progress in terms of the accession file as being one of the most active files among the Arab countries and observers.”
Minister Al-Ghurairi stated that “the two files for the initial offer of goods and services that were presented included a wide range of products and services that reflect the diversity and competitiveness of the Iraqi economy and to negotiate them,” noting that “work is underway to prepare the Iraqi negotiating team and build the negotiating capabilities of the team for the purpose of directly holding negotiating rounds with The member states of the organization in order for Iraq to obtain membership in the organization.
The Minister stated, “The Department of Foreign Economic Relations, through official channels of dealing with the organization, is working on completing all requirements for accession in order for Iraq to obtain membership in the organization and enhance Iraq’s integration into the multilateral trading system.”
It is worth noting that the World Trade Organization (WTO) has issued the annual report on the accession of observer countries and has praised the efforts led by the Ministry of Commerce through its presidency of the National Committee, which considered activating the process of Iraq’s accession to the organization an important step for the organization, which was welcomed and praised by the member states and that Iraq is the only Arab country whose accession process has become active and has passed advanced stages among the Arab countries that hold observer member status.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/Frank26
Question: "Will Aki
[Walkingstick's Iraqi Bank owner here in the US]
exchange dinars for US citizens at his bank?"
Yes! That's the whole purpose.
FRANK26: SAYS
Walking Stick was on the phone with Frank during the subway. The head of Walking Sticks, who owns banks and ATMs in Iraq and Jordan, and his friend who runs his bank in Dearborn, Michigan, are at this big meeting at the CBI, with the 964-person delegation that was in D.C. Everyone is in this meeting.
It is the Arab Monetary Fund, the International Monetary Fund, the World Bank, all the companies and investors who have contracts are saying these words, about lower banknotes and a new exchange rate. Everyone knows that the exchange rate is about to change. Eddie said on television saying The budget will come to Parliament next week. Walking Stick and Frank believe that the exchange rate will rise and force parliament to hold an emergency session. Then Parliament would have to vote. There is too great a possibility of insider trading (parliament are criminals). Walking Stick says Sudani wants this now. Promises must be kept. Do you remember that they audited the banks? Maliki's State of Law Party tried to raise $600
Millions of dollars. The entire party is being shut down by the IMF, the FMA and the CBI. They were funneling funds to Iran across the border into Iran for their own enrichment. They and the private banks were closed. That's why they think that with all the corruption, they will have to announce the new exchange rate and the parliament will hold an emergency vote (after the exchange rate change). The CBI determines the exchange rate.
Sudani and CBI are working together. Those sanctions were lifted in time for a
Change of fee. Everyone at those meetings will be on stage with Sudani, including the two friends from Walking Sticks. Walking Stick says Sudani will make the presentation, and this will happen after that. Sudani wants it now, everyone is there waiting. It shouldn't take long.
-All credit to Frank and his team!
TRANSLATE SPANISH
Miércoles 24 Abril 2024
THE EUROPEAN UNION WELCOMES IRAQ’S APPROVAL OF THE SINGAPORE MEDIATION AGREEMENT
The European Union Ambassador to Iraq, Thomas Seiler, welcomed the Iraqi government’s signing of the Singapore Mediation Agreement.
Siler said in a tweet on the X website, “I welcome the Sudanese Prime Minister’s government’s signing of the Singapore Mediation Agreement, which is considered a milestone for resolving commercial disputes, and I am pleased that the technical support provided by the European Union to anti-corruption and international arbitration efforts has been important and effective. I call on Parliament to expedite ratification on the agreement.
He added that this decision would enhance investments and business in Iraq, and facilitate international trade. This indicates the government’s intention to make Iraq an attractive place for investments.
He stressed that the European Union remains committed to providing expertise to the government and the economy.
On April 19, 2024, the United Nations Development Program (UNPD) announced that Iraq had officially signed the Singapore Agreement on Mediation, which is an “important” step towards developing the resolution of commercial disputes in Iraq.
The Singapore Mediation Convention is a standardized and effective framework for international settlement agreements resulting from mediation, which parties conclude to resolve a commercial dispute.
The Singapore Agreement will facilitate international trade by enabling disputing parties to easily enforce and recall settlement agreements across borders. Companies will benefit from mediation as an additional option to litigation and arbitration in resolving cross-border disputes.
GOLDILOCKS
"Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments."
National Bank of Iraq and Temenos have partnered together to transition the Iraqi Banks from Legacy Systems to a Unified Core Banking and Payments Platform.
Core Banking is the back-end processing of transactions including deposits, loans, and credit processing.
This integration will streamline operations and accelerate product development for customers across the Capital Bank Group. The Capital Bank Group globally connects Iraqi banking systems.
Temenos digital products are adaptable and scalable that will allow them to work inside an Open Banking System. This new upgrade will allow Iraq to trade with Global Financial Institutions around the world.
© Goldilocks
https://fintech.global/2024/04/25/national-bank-of-iraq-empowers-digital-transformation-with-temenos-core-banking-system/
https://www.hcltech.com/knowledge-library/what-is-core-banking#:~:text=Core%20banking%20can%20be%20defined,deposit%2C%20loan%20and%20credit%20processing.
https://www.temenos.com/news/2024/04/25/national-bank-of-iraq-goes-live-with-temenos-core-banking-and-payments/