The Federation Of Industries Reveals A "Qualitative Shift" In The Path Of Iraqi Industry.

 The Federation Of Industries Reveals A "Qualitative Shift" In The Path Of Iraqi Industry.

Local   The head of the Iraqi Federation of Industries, Adel Akab, confirmed on Friday that the launch of the "National Code Platform" to introduce Iraqi industrial products represents a qualitative shift in the path of supporting local industry and empowering the private sector.

Akab told the official agency, followed by Al-Eqtisad News, that "Iraqi industry has always lacked an approved national code or a reliable barcode that would be recognized globally, which has been an obstacle to enhancing confidence in local products, especially in foreign markets.

" He explained that "the Iraqi Federation of Industries had previously adopted this file in 2010, but it was not activated due to the lack of appropriate conditions and weak institutional support at the time."

He added, "With direct support from Prime Minister Mohammed Shia al-Sudani, and through tireless efforts and direct coordination with the Industrial Coordination Council, the union has obtained official authorization to be the body authorized to issue the national code for industrial products, especially after a number of Iraqi goods entered the export pipeline. This requires providing reliable standards that specify the country of origin, the percentage of local manufacturing, and inspection and validity details."

He explained that "the program launched last Thursday is not limited to identifying Iraqi goods alone, but rather represents an integrated system to protect the national economy and enhance food and medicine security through a massive central database that documents local production and enables institutions and citizens alike to know the extent of available and surplus stock at any given time."

He continued, "The applied code includes all product information, including date, location, and type of production. It can also be tracked electronically via mobile phone in any country, which helps identify and easily monitor product locations." He emphasized that "this system ensures protection against counterfeiting and is adopted in all countries around the world."

He pointed out that "the launch of the project represents an official transition into implementation, following extensive preparatory work behind the scenes, and is an important step towards enhancing the reliability of the Iraqi product."

On June 5, Prime Minister Mohammed Shia al-Sudani launched the "Iraqi National Code" platform for QR codes to promote Iraqi industrial products. https://economy-news.net/content.php?id=56265

FIREFLY: Television talking about how low inflation we have

 Frank26   

[Iraq boots-on-the-ground report]   

FIREFLY: Television talking about how low inflation we have and it's due to policies put in place by the CBI . 

 FRANK:  Another screaming factor of a new exchange rate.  You can't have a low inflationary rate at a punished sanctioned rate.  Everybody knows that.

Iraqi Dinar RV: The Number’s Set, Just Not Public Yet! @DINARREVALUATION...

Al-Sudani To US Diplomat: Iraq Will Take All Necessary Measures To Defend Its Sovereignty And Airspace.

 Al-Sudani To US Diplomat: Iraq Will Take All Necessary Measures To Defend Its Sovereignty And Airspace.

Time: 2025/06/13 16:27:01 Read: 1,170 times  {Political: Al Furat News} Prime Minister Mohammed Shia al-Sudani received today, Friday, the Chargé d'Affaires of the United States Embassy in Iraq, Stephen Fagin, and the Commander of the International Coalition Forces to Fight ISIS, General Kevin Leahy, following the dangerous developments resulting from the attack on the Islamic Republic of Iran.

Al-Sudani reiterated Iraq's firm and decisive position that the actions against Iran constitute a flagrant violation of international law and an act of aggression that undermines the rules of the international order and threatens regional and international security. 

He emphasized that the timing of the attack, which came at a time when diplomatic efforts were still underway, not only undermines de-escalation efforts but also reveals a deliberate intent to escalate and drag the region into a wider confrontation, rather than prevent it.

The Prime Minister reiterated his categorical rejection of the use of Iraqi territory or airspace to carry out or facilitate any aggressive acts against any neighboring country, affirming Iraq's right and responsibility to protect its sovereignty and that the Iraqi government will take all legal measures to this end. He also called on all international parties to respect this principle.

Al-Sudani stressed the need for the international community, particularly the UN Security Council, to take responsible and direct steps to reaffirm the prohibition on the use of force and work to prevent the region from sliding into a cycle of uncontrolled violence.

For his part, the Chargé d'Affaires and Commander of the Coalition Forces affirmed the United States' stated position of not participating in the attack in any way, noting their country's commitment to not involving Iraq in the conflict, in accordance with the Strategic Framework Agreement signed between the two countries.   LINK

TIDBIT FROM FRANK26

 Frank26   

Notice even in the midst of all this military action with Iran next to you [Iraq],

 Saleh who is in charge of the Iraqi finances comes out first thing this morning and tells you,  'We are secure and stable.'   ;

What was it that we needed in order for you to have a new exchange rate with lower note currency? 

 ...Security and stability...

🚨🌟 IQD RV IS COMING, PATRIOTS! THE TIME IS NOW! 🌟🚨 #iraq #iraqidinar @DI...

Iraqi Dinar Q&A: Dinar Revaluation (RV) and Israeli Airstrikes on Iran

 Q: What effect will Israel's airstrikes on Iran have on any potential revaluation of the Iraqi dinar?

A: This week's Israeli airstrikes on Iran, targeting nuclear and military sites, will likely have a negative effect on any potential revaluation of the Iraqi Dinar, at least in the short term. Here's why:

Increased Regional Instability

The conflict between Israel and Iran is a major source of instability in the Middle East. Iraq, being a direct neighbour to Iran and having complex political and economic ties with both countries, is highly susceptible to the fallout from such tensions. Increased regional conflict generally leads to capital flight and a preference for safer currencies like the US dollar, which puts downward pressure on local currencies like the Iraqi Dinar .

Safe-Haven Demand for USD

As investors and even ordinary citizens become more apprehensive about the future, they tend to move their assets into more stable and liquid currencies. The US dollar is traditionally seen as a global safe-haven currency. This increased demand for USD in Iraq would further weaken the Dinar against the dollar in the parallel markets, making any revaluation less likely.
Impact on Oil Prices

While a spike in oil prices due to regional conflict might seem beneficial for an oil-dependent economy like Iraq's, the immediate effect on the Dinar is often outweighed by the increased instability. Furthermore, if the conflict were to escalate and impact shipping routes like the Strait of Hormuz, Iraq's oil export revenues could be severely affected, which would be detrimental to the Dinar.

Smuggling and Sanctions Concerns

Iraq has faced challenges with dollar smuggling to Iran, partly due to US sanctions on Iran. Escalated tensions and potential new sanctions could exacerbate these issues, further disrupting Iraq's financial system and the Dinar's stability.

Political and Economic Uncertainty in Iraq

The Iraqi Dinar's value is already influenced by a range of internal factors, including political stability, government spending, and efforts to control corruption. Regional conflicts add another layer of uncertainty, making it harder for the Central Bank of Iraq to manage the exchange rate and implement policies that could lead to a revaluation.