Wednesday, October 16, 2024
Foreign Minister begins European tour lasting several days and opens two Iraqi embassies, 16 OCT
Foreign Minister begins European tour lasting several days and opens two Iraqi embassies
Foreign Minister Fuad Hussein begins a European tour today, Wednesday, that will last for days and witness the opening of two Iraqi embassies.
Hussein said in a press statement that the tour "begins with a visit to Ireland and ends with a visit to France, passing through the Czech Republic and Croatia to meet with senior officials there," indicating that "this tour aims to strengthen our bilateral relations."
"We will participate in a number of seminars and conferences," he added.
Hussein pointed out that "during his tour, he will open the Iraqi embassies in Dublin and Zagreb." link
DINAR REVALUATION UPDATE : IRAQ ACCESION TO THE WTO, 16 OCT
DINAR REVALUATION UPDATE : IRAQ ACCESION TO THE WTO
Summary
Iraq is on a positive trajectory towards joining the WTO, with significant steps taken and international support, particularly from Saudi Arabia.
Highlights
- 📈 Exchange Rate: Baghdad stock exchange reports 154,000 IQD for $100.
- ⚡ Electricity Contracts: Iraq signs Gulf electricity interconnection contract, facilitating regional cooperation.
- 🇺🇸 U.S. Commitment: U.S. Defense Secretary reaffirms support for Saudi Arabia amidst Middle Eastern tensions.
- 🌍 WTO Progress: Iraq completes necessary steps to join the World Trade Organization.
- 🇸🇦 Saudi Support: Saudi Arabia plays a crucial role in Iraq’s WTO accession efforts.
- ⏳ Ongoing Challenges: Iraq still needs formal acceptance into the WTO, a critical hurdle ahead.
- 🌐 Trade Benefits: Joining the WTO could expand Iraq’s opportunities for free trade.
Key Insights
- 📊 Market Dynamics: The exchange rate indicates ongoing economic activity, reflecting confidence in the Iraqi dinar’s stability. This is crucial for attracting foreign investment.
- 🔌 Regional Collaboration: The Gulf electricity interconnection contract represents a strategic move to enhance Iraq’s energy infrastructure and foster regional partnerships that could boost economic resilience.
- 🛡️ Geopolitical Landscape: The U.S. reaffirmation of support for Saudi Arabia highlights the intricate power dynamics in the Middle East, which could impact Iraq’s foreign relations and security situation.
- 📑 WTO Membership: Completing the requirements for WTO membership signifies Iraq’s commitment to modernizing its economy and integrating into the global market, which can lead to enhanced trade relationships.
- 🤝 Strategic Partnerships: Saudi Arabia’s involvement in Iraq’s WTO application underscores the importance of regional alliances in economic development and stability, showcasing cooperative efforts in the Gulf.
- 🚧 Acceptance Process: While significant progress has been made, the need for formal acceptance into the WTO remains a daunting challenge for Iraq, emphasizing the competitive nature of international trade negotiations.
- 🌍 Economic Growth Potential: Successful accession to the WTO could unlock vast opportunities for Iraq, including increased market access and investment, which are vital for sustainable economic growth.
The First Of Its Kind.. Launching The Baghdadna Electronic Service Platform, 16 OCT
The First Of Its Kind.. Launching The Baghdadna Electronic Service Platform
Baghdad Governorate logo Local Economy News – Baghdad Baghdad Provincial Council announced on Tuesday the establishment of the Governance and Communications Committee to manage digital transformation in the capital, Baghdad, while pointing to the launch of the “Baghdadna” platform to provide more than 25 electronic services to citizens via smart devices.
The head of the e-governance and communications committee in the council, Muthanna Al-Azzawi, said in the first conference to announce the (Baghdadna) platform, which was followed by "Al-Eqtisad News", "We announce the establishment of the Governance and Communications Committee to manage digital transformation in Baghdad Governorate," indicating that "this committee is the first of its kind in the governorate, and aims to adopt and manage digital transformation files and provide electronic services to citizens."
He explained that "the first work of the Governance and Communications Committee is to start announcing the (Baghdadna) platform, which is the official government platform that will represent Baghdad Governorate, to provide all services electronically," stressing that "the platform will provide more than 25 real services to citizens through smart devices."
He added that "the goal of the Governance and Communications Committee is to build a smart local government that provides its services to citizens through smart devices, as citizens will be able to apply for the service through a single platform, and government institutions will complete the rest of the procedures electronically," noting that "the Baghdad local government will undertake the formulation of general policies for the governorate, while exercising its role in planning, monitoring and legislating on sectoral institutions."
Al-Azzawi called on all those interested in the field of digital transformation and information technology, researchers, civil society organizations, and the private sector, who have pioneering experience in this field, to “visit the committee and review the projects and the possibility of providing funds for the purpose of adopting and launching them.” https://economy-news.net/content.php?id=48750
Evening News with MarkZ. 10/15/2024
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