Friday, July 19, 2024
Minister of Commerce: Iraq’s accession to the World Trade Organization will contribute to stimulating economic growth
Economy News – Baghdad
Trade Minister Atheer Daoud Salman Al-Ghuriri confirmed on Thursday that Iraq’s accession to the World Trade Organization will contribute to stimulating economic growth, during his speech at the third negotiating meeting with the World Trade Organization in Geneva, Switzerland.
“The Minister of Trade and the Head of the Team on Iraq’s Accession to the World Trade Organization chaired the Iraqi side at the third negotiating meeting with the World Trade Organization and in the presence of the Deputy Director General of the Organization Zhang Xingqin, the Chairman of the Working Group for Iraq’s Accession, members of the Team and representatives of WTO countries at the organization’s headquarters in Geneva,” the Ministry of Commerce said in a statement, seen by “Economy News”.
The minister, according to the statement, pointed out during a speech at the meeting, “the importance of Iraq being part of the rules-based multilateral trading system,” stressing that we are “pleased to hold the third meeting of the working group sixteen years after the last working group meeting, which represents an essential step for our government and people on our way to joining, in addition to being a means through which we seek to achieve the development and diversification of our national economy and our integration with the global economy.”
The minister pointed out that “the Government of Iraq is committed to its economic reform program by strengthening trade policy, improving the business environment and creating favorable conditions for foreign investment,” noting that “joining the World Trade Organization will contribute significantly to enhancing transparency, encouraging competition and stimulating the sustainable economic growth of Iraq.”
He continued, “The new Iraqi government, led by Prime Minister Mohammed Shiaa Al-Sudani and within its government program, has defined a clear vision for the future of economic liberalization in Iraq, which included setting timetables for a time plan to achieve the liberalization process and focusing on sectors with high potential such as agriculture, industry and services, which provided for supporting domestic and foreign investments and unifying customs policies on all borders and other measures to facilitate trade and investment and creating investment opportunities.”
“The government has also attached special importance to aligning its trade policy and regulatory legislation with international capacities, norms and standards and strengthening institutional capacities to effectively meet WTO requirements,” the minister explained.
ANALYSIS BY FRANK26 ABOUT THE NEW IQD 3 ZEROS VIDEO , 19 JULY
Frank26 .
Thursday, July 18, 2024
Government advisor reveals Iraq’s gold reserves have risen to 150 tons… and the reason for its high price
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Thursday, that Iraq’s gold reserves have risen to 150 tons, while noting the reason for its high price.
Saleh told {Euphrates News} that: “Gold is one of the most important safe investment havens in the world, which is resorted to by the investment portfolios of central banks and various investors through international financial markets, including the Central Bank of Iraq, which currently holds less than 150 tons of cash gold within Iraq’s international reserves, relying on a standard rule for optimal diversification of the investment portfolio of Iraq’s international reserves.”
He added, “It is a rule adopted globally by multilateral international financial organizations such as the International Monetary Fund, the World Bank and others, within the principle of ensuring the liquidity of investment portfolios and protecting them from various financial and economic risks and various fluctuations affecting the value of financial assets, by resorting to safe and optimal diversification of investment portfolios.”
Saleh pointed out that “there is an inverse correlation between gold and oil on the one hand and the value of the dollar on the other hand. Whenever the value of the US currency declines or investment returns in the US currency decline, such as the returns on dollar-denominated bonds or interest on dollar deposits, investors go towards the safe haven, which is gold, which is stable in value and guaranteed purchasing power.”
“Gold is a rare asset whose (asset cycle) is long and stable, mostly without serious fluctuations, which encourages this stability by investing in the market value of gold and within the standard limits required by investment portfolios in terms of growth and stability in the value of its components in a balanced manner without incurring {unrealized} losses, as they are called in accounting,”
Saleh continued, “noting that countries can issue gold-backed bonds (gold bonds) in order to borrow from the financial market, as the gold guarantee is one of the basic attractive and desirable guarantees in global financial markets.” He continued
by saying, “We cannot fail to mention that 17% of the world’s gold is currently stored in the vaults of central banks in countries, and that 77% of the world’s gold wealth has been extracted,” noting that “50% of that wealth has been manufactured for various purposes, such as woven goods, industrial or craft materials, and other jewelry.”
Saleh concluded by saying, “The value of gold in the world is currently estimated at about 15 trillion dollars, which represents a percentage of the annual global gross product of about 14% only, while the quantities of gold discovered from the depths of the earth {currently in circulation and stored} are estimated at about 187 thousand tons distributed in various parts of the world.”
Raghad
TNT CC Close Tony, 19 JULY
TNT CC Close Tony
“OK guys. We’ll just end it right here. Window is open after 2 pm today. Expected after 2 pm. – could see something between 2 pm and 2 am. They’re all ready to go. Something to happen tonight. Be ready to go.”
--
TNT CC CLOSE
TONY: OK GUYS - WE'LL JUST END IT RIGHT HERE - WINDOW IS OPEN AFTER 2 PM TODAY - EXPECTED AFTER 2 PM -
COULD SEE SOMETHING BETWEEN 2 PM & 2 AM
PRAYING THAT SOMETHING HAPPENS ALTHOUGH WE'RE NOT SUPPOSE TO PRAY FOR THIS
NOTHING BUT GOOD NEWS - THEY'RE ALL READY TO GO - SOMETHING TO HAPPEN TONIGHT - BE READY TO GO
ENJOY THE REST OF YOUR DAY - SHARE SUPERFANTASTIC
THAT'S IT GUYS - I'M DONE
---
TNT UPDATE 6/28/24
Tony said that Iraq is ready to party. 🥳
Sudani told the Iraqi people that there is going to be a change in the banks.
Tier 2 & 3 banks in the US have also now been advised to “get ready.”
Banks have been doing practice runs for the last two days, and the biggest issues that keep occurring, were with people not having their currency separated and organized.
The budget is expected to be published tomorrow.
Bankers from Indiana, Chicago, NY, NJ, FL and DC texted Tony during the call and advised that they are ready, and that some of them are staying late tonight, and that some are starting early tomorrow morning.
Tony believes that our window is still any time after 4:00pm Eastern today, through Sunday morning.
Ray believes that it’s coming tonight, so that’s what we’re all going to pray for. 😁
That’s it for the highlights, have an amazing night and an even better weekend. Much love and abundant blessings to all. 🙏🤗❤️
https://dinarevaluation.blogspot.com/2024/07/tnt-cc-update-18-july.html
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