Iraq to Import Gas from Turkmenistan via Iran

 Turkmenistan and Iran have marked an agreement for the buy and offer of flammable gas in how much up to 10 billion cubic meters of gas each year, which will be provided from Turkmenistan to Iraq through Iran under a trade plot.

The negotiations between Turkmenistan and Iran, which took place this week in Ashgabat, resulted in the signing of the agreement. During the negotiations, a wide range of issues related to the expansion of cooperation between Turkmenistan and the Islamic Republic of Iran in the gas industry were discussed.

The Turkmen and Iranian sides are currently actively collaborating to put into action the agreements that were previously reached at the highest state level regarding the expansion of gas cooperation. As a result, Iranian businesses will work on the construction of a new 125-kilometer gas pipeline and three gas compressor stations on Turkmenistan’s territory in order to improve the infrastructure for transporting gas. These facilities are required in order to supply Iran with additional quantities of gas.

It is planned to increase the annual volume of gas supplied to Iran along the Dovletabad-Sarakhs-Hangeran routes and through the Chaloyuk gas measuring station to 40 billion cubic meters in addition to the capacities that are already in place.

According to Turkmenistan’s Foreign Ministry, the positive experience of joint activities in the supply of Turkmen gas to Iran and through its territory to third countries serves as a solid foundation for expanding the potential of bilateral partnership in this area.

ABOUT THE REGULATION OF THE E-COMMERCE IN IRAQ BY GOLDILOCKS

 GOLDILOCKS

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired the meeting of the Diwani Order Committee (24079) to regulate e-commerce in Iraq with the participation of the concerned authorities." 

The meeting dealt with defining the service provider and granting a license. This procedure will be done through an electronic platform accepted by the Ministry of Trade. How this is to take place is through a "system paper" given to the Council of Ministers for approval.

This "regulation paper" will give detailed instruction on how to implement a procedure or policy. In this case, e-commerce is the topic of instruction, and specific details on how to move products through a standardized process will be very important. 

In this case, an e-commerce website will be created to fulfill the above requirements. This website will enable the process of selling physical goods, services, and digital products through the internet, and not, a brick and mortar building. 

An e-commerce website business will be able to process orders, accept payments, manage shipping and logistics, and provide customer service. 

Upon  approval of this system paper from the Council of Ministers, Iraq will be able to begin the process of interfacing their new banking reforms with e-commerce regulations. 

Watch the water.

© Goldilocks

https://cbi.iq/news/view/2612

https://iclg.com/practice-areas/digital-business-laws-and-regulations/usa#amp_tf=From%20%251%24s&aoh=17203859696480&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Ficlg.com%2Fpractice-areas%2Fdigital-business-laws-and-regulations%2Fusa 

https://mailchimp.com/marketing-glossary/ecommerce-website/#:~:text=A%20website%20that%20allows%20people,logistics%2C%20and%20provide%20customer%20service.

https://academia.stackexchange.com/questions/48444/what-is-a-system-paper

"IRAQI DINAR 18TH JULY 2024 A DAY OF DINAR CURRENCY REVALUATION CONFIRM"...

Under the patronage of Barzani.. The National Bank of Iraq signs an agreement to finance the construction of a hospital in Kurdistan for $50 million

 Economy News – Baghdad

The National Bank of Iraq signed an initial agreement to finance the construction of a modern hospital in the region, with a total value of up to 50 million US dollars, under the auspices of the Prime Minister of the Kurdistan Regional Government, Masrour Barzani,

The funding of this vital project by the National Bank of Iraq comes with the aim of supporting the direction of the regional government to improve the reality and quality of health care in the region and provide advanced health services to its residents.

Commenting on the signing of this agreement, the Plenipotentiary Director of Al Ahli Bank of Iraq, Ayman Abu Dhaim, expressed his happiness with this important step, saying: “We are proud of the National Bank of Iraq to finance the construction of a new and advanced hospital in the Kurdistan region. This initiative reflects our ongoing commitment to supporting development and infrastructure projects that benefit our community and contribute to improving the quality of life for citizens.”

Abu Dhaim pointed out that this project is a model of partnership between the public and private sectors to contribute to achieving sustainable development, explaining that this project, in addition to providing high-quality medical services to citizens, will contribute to creating new job opportunities and promoting economic growth, and in a way that will reflect positively on progress and prosperity in Iraq.

Financing this project will be subject to the bank’s credit policies and the instructions of the Central Bank of Iraq.

The bank also plays a major role in economic development and promoting financial inclusion, as the bank has localized more than 200,000 employees in the public and private sectors, and has granted advances to more than 80,000 employees with a total value of 1 trillion Iraqi dinars. At the level of small and medium enterprises, the bank has granted loans to more than 5,000 companies from various governorates of Iraq in many economic sectors.

https://economy-news.net/content.php?id=44996

ABOUT IRAQ AND THE WTO ACCESSION BY GOLDILOCKS

 GOLDILOCKS

On July 18th, 2024, Iraq is slated to go before the World Trade Organization on access and benefits of trading in the modern world. 

Their newly developed regulation paper designed to implement and develop an e-commerce facility will incorporate needed changes in digital asset based trading systems. 

Watch the water.

© Goldilocks 

https://www.wto.org/english/news_e/events_e/events_calendar_view_e.htm

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Iraq ranks fifth in Arab World, 52nd globally in largest economies

 Shafaq News/ Iraq has ranked fifth among Arab nations and 52nd globally as the largest economy in the world for the year 2024, According to CEOWORLD.

Despite rising concerns over inflation, the United States maintained its position as the world’s largest economy, with a Gross Domestic Product (GDP) of $28.78 trillion.

China followed with a GDP of $18.54 trillion, while Germany solidified its position as Europe’s economic leader with a GDP of $4.59 trillion, leveraging its manufacturing expertise and robust exports amid additional challenges related to energy supply issues stemming from the Russia-Ukraine conflict.

CEOWORLD highlighted Japan in fourth place with a GDP of $4.11 trillion, while India ranked fifth, showcasing one of the fastest-growing economies with a GDP of $3.94 trillion.

In terms of global rankings, Iraq secured the 52nd spot with a GDP of $265.894 million for the current year, projected to increase to $278.811 million in 2025, $292.147 million in 2026, $307.465 million in 2027, $325.197 million in 2028, and finally reaching $345.074 million by 2029.

CEOWORLD further noted that Iraq ranks fifth among Arab nations, following Saudi Arabia, the United Arab Emirates, Egypt, and Algeria in economic size.

shafaq.com