Financial Advisor to Prime Minister Mahar Mohammed Saleh stressed that the relations between Iraq and the United States of America are very good and distinguished, and work in a high-level diplomatic and economic framework.
Saleh pointed out to the {Euphrates News} agency that “the interests of the two friendly countries are moving in positive directions, especially in the field of economic, investment and trade cooperation.”
He explained that “what is raised by some parties regarding this relationship is among the fears, political concerns and speculations that have no basis, and they are related to the changes of the new administration in the United States and its correlationships with vast political geographies,” stressing that Iraq is not a party to it.
#IQD
Iraq recently implemented the automated customs system ,ASYCUDA and last week joined the TIR system for export by road.
These two processes are steps towards their impending ascension to WTO which is supposed to be at the end of first quarter.
They need a convertible currency for WTO .
It's a matter of when not if it hits Forex no matter the rate. They need a IQD to be convertible. I do not speculate on date and rate.
They have filed for WTO once they meet to take up the ascension Iraq will be a full member after 30 days of notification. The above systems implementation are part of this process.
Just my thoughts on how I see the process unfolding.
PM's Advisor: Government has taken steps to revive manufacturing industry
The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed that the government has taken steps to revive the manufacturing industry.
Salih told the official agency: "The revival of the manufacturing industry in Iraq is a strategic issue with multiple dimensions, the first of which is that the industrial operator, whether small, medium or large, is one of the most important activities responsible for employing 60% of the workforce."
He pointed out that "eliminating sustainable unemployment requires economic diversification, and the basics of diversification start with the industrial construction of Iraq. Secondly, the partnership with the private sector is an ideal solution for reviving the industrial sector itself, whether this partnership is in providing financing and government support or a partnership in ownership or capital.
This requires a balance between the public interest and private interests, while ensuring the existence of a transparent regulatory environment with high governance that encourages effective cooperation in an integrated social market between the two parties," noting that "the partnership in management and ownership between the public and private sectors leads to stimulating innovation and technological development and encouraging research and development, in addition to investing in advanced manufacturing technology such as automation, artificial intelligence and 3D printing."
He stressed that "the financing partnership represents the provision of financial support to small and medium enterprises operating in the field of manufacturing to create an optimal operating lever," explaining that "the national development plan indicates efforts to rebuild the foundations of the manufacturing industry through real partnerships with the private sector, where the state contributes to guaranteeing sovereign financing for manufacturing industries by 85%, while the private industrial project bears 15% of the financing."
He continued that "this financing strategy is devoted to financing industrial projects at five levels, foremost of which are projects whose products are related to construction and housing or contribute to development road works, then pharmaceutical industries, petrochemical industries, and others," noting that "the government's economic philosophy, in accordance with the government program, is based on the partnership between the state and the market with broad social security, and this is what makes it work according to the social market theory, which is a departure from economic liberalism and its risks."
He explained that “Riyada Bank was established with the support of the state to provide small and medium-sized loans to young people,
and this was preceded by the Prime Minister’s Riyada Initiative, which paved the way for this by providing thousands of loans to youth sectors and stimulating their innovations,” explaining that “this will lead to encouraging the country’s regulatory and investment environment and adopting policies that encourage competition, improve the business environment, and reduce bureaucratic regulations that may hinder the industrialization process and its rapid advancement.” link
[via PDK] I have contacts that are physically working in some locations. They started over this weekend.
A couple of group contacts are steadily working and dusting off old paperwork and going through things because they have not been there in quite sometime.
Some groups expect full release of tier 4a funds this week as well.
I am very excited about the chatter but we need it to actually come to fruition. The sheer numbers of folks in physical position around the world right now that are updating paperwork is amazing.
The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, confirmed that the financial concerns raised from time to time about the economic situation in Iraq are "baseless."
Saleh told {Al-Furat News} that "Iraqi diplomacy is one of the most successful in protecting the country's supreme interests, according to the government program's adoptions and national constants, whether with the United States or others." He added, "There is a high degree of consistency in managing the country's financial affairs in a stable manner within the framework of the general economic policy, which is a positive thing that is always indicated by the ability and flexibility to confront economic challenges with high rationality during the past years."
Saleh pointed out that "the country enjoys good financial flows from oil revenues and others, supported by efficient foreign reserves and promising economic activity in the real sector and partnership with the private sector witnessed by the country, especially in the sectors of renewable energy construction, fossil oil, electricity, gas, infrastructure, reconstruction and housing in an unprecedented manner."
Despite the statements of government officials reassuring the financial situation in Iraq, there are some concerns that are raised from time to time due to fluctuations in oil prices.
The Iraqi economy depends heavily on oil exports, which makes it vulnerable to fluctuations in global oil prices. Any drop in oil prices could significantly impact government revenues and lead to a budget deficit. While there are some financial concerns, the economic situation in Iraq appears stable at the moment, thanks to good oil revenues and foreign reserves at the Central Bank of Iraq. link
