Minister of Commerce: Completion of the files for the initial offer of goods and services within the files for accession to global trade
The Minister of Commerce and Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, Atheer Daoud Salman Al-Ghurairi, announced the completion of the files for the initial offer of goods and services within the files for joining the organization.
Al-Ghurairi said in a statement received by the Iraqi News Agency (INA), that “the two files for initial offers for goods and services have been completed and officially submitted to the Secretariat of the World Trade Organization through official channels,” stressing that “this important step comes in the context of the Iraqi government’s efforts and its program aimed at Promoting international trade and achieving sustainable development, which reflects its commitment to ensuring global economic integration and expanding economic partnerships.”
This is the video for this blog post below here:
The minister continued, "The National Committee, the technical committees emanating from it, and the accession team in the ministry were able, within a short period, to complete these files and submit them to the organization in preparation for holding the third meeting of the working group on Iraq during the current year, 16 years after the date of the second meeting of the group in 2008."
Al-Ghurairi pointed out that "the World Trade Organization (WTO) and the international circles welcomed Iraq's return to the negotiating table, especially since it is one of the important Arab economies that is still outside the organization, as he described this progress in terms of the accession file as being one of the most active files among the Arab countries and observers."
Minister Al-Ghurairi stated that “the two files for the initial offer of goods and services that were presented included a wide range of products and services that reflect the diversity and competitiveness of the Iraqi economy and to negotiate them,” noting that “work is underway to prepare the Iraqi negotiating team and build the negotiating capabilities of the team for the purpose of directly holding negotiating rounds with The member states of the organization in order for Iraq to obtain membership in the organization.
The Minister stated, “The Department of Foreign Economic Relations, through official channels of dealing with the organization, is working on completing all requirements for accession in order for Iraq to obtain membership in the organization and enhance Iraq’s integration into the multilateral trading system.”
It is worth noting that the World Trade Organization (WTO) has issued the annual report on the accession of observer countries and has praised the efforts led by the Ministry of Commerce through its presidency of the National Committee, which considered activating the process of Iraq’s accession to the organization an important step for the organization, which was welcomed and praised by the member states and that Iraq It is the only Arab country whose accession process has become active and has passed advanced stages among the Arab countries that hold observer member status.
The financial expert and former Director of the Financial Supervision Bureau, Salah Nouri, explained the mechanism for the House of Representatives’ vote on the federal budget.
Nouri told {Al-Furat News} that: “If the budget reaches Parliament, the vote will be on the tables only.”
He added, "Parliament will also vote on the paragraphs proposed by the government for amendment, if any, and not all of the budget paragraphs."
Member of the Parliamentary Finance Committee, Haitham Al-Zahwan, announced on the 21st of this month that there is a possibility to send the 2024 budget and approve it before the legislative recess of the House of Representatives begins on the 9th of next May.
Al-Zahwan attributed the reasons for the delay in the arrival ofthe 2024 budget schedules to “the continuation of work on them,” expecting that they will be sent in the coming days.
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, said in a statement that the committee is awaiting the arrival of the 2024 budget schedules during this month. While he stressed the effort to correct the budget path by maximizing non-oil revenues, encouraging the private sector, and reducing operational spending.
Al-Sudani: My visit to Washington produced results in favor of Iraq
On Tuesday, Prime Minister Muhammad Shiaa Al-Sudani chaired the sixteenth regular session of the Council of Ministers, during which the general situation in the country was discussed, a number of important files were discussed, topics on the agenda were deliberated on, and decisions and recommendations were taken regarding them.
At the beginning of the session, Al-Sudani reviewed, according to a statement from his office received by Al-Maalouma, “the results of his official visit to the United States this month, which produced results that are in the interest of Iraq in terms of economy, politics, security, and regional stability, and in the interest of building bilateral strategic relations, in addition to signing a number of memorandums.” Understanding and partnership between the Iraqi public and private sectors on the one hand, and between major leading American companies and financial and banking institutions on the other hand.”
He also reviewed "the visit of the Turkish President to Baghdad yesterday, which witnessed the signing of the bilateral strategic framework agreement, and the signing of 26 joint memorandums of understanding for various institutions between the two countries, which will be reflected in the economic and development partnership, in addition to the quadripartite understanding that included Iraq, Turkey, Qatar and the UAE, regarding a road project." Development, the investment opportunities it holds, and entering into a new phase of security and economic understandings and in the field of water management and water shares in the Tigris and Euphrates rivers, all of which will push relations forward.”
During the session, the Prime Minister directed the ministers to “follow up the implementation of the memorandums of understanding, and provide the utmost efforts in order to achieve the highest levels of mutual benefit, for all sectors and activities covered by the memorandums of understanding, in addition to assigning the committees concerned with securing the requirements for success and good implementation of the agreements and understandings signed with the states.” United States and Turkey.
Expert: The government has solved the problems of energy production, and next year we will witness a major transformation
The expert in the field of energy, Furat Al-Moussawi, suggested that Iraq will witness the provision of large quantities of gas to supply generating stations next year.
Al-Mousawi said: For the program {Free Talk} broadcast by Al-Furat satellite channel this Tuesday evening, he said: “
I have now signed specific memorandums, one of which is with Geely Company, to invest in low-cost burned gas, and within 6 months we will greatly enhance the provision of electrical energy.
- Energy issues need time to improve.
- There is a national will to accelerate the activation of memorandums of understanding in energy projects and to invest in gas associated with improving electricity.
- The Ministry of Electricity does not bear responsibility for the lack of fuel to equip electrical stations.
- There is a large gap between the actual need and the energy production that requires the construction of thermal stations, and the government has solved all the problems related to production Energy
- The energy issue has become one of the priorities of the current government, and it is serious about resolving the electricity crisis through contracting with reputable companies.
- The coming year will witness the provision of large quantities of gas to supply generating stations.
- The project to convert the electrical network to ground level will prevent energy waste. We are waiting for specific timings To start the project -
The stability of the country depends on electricity.
The Minister of Oil meets a BP delegation
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul-Ghani, met with a delegation from BP Company.
The ministry stated in a statement: “The meeting, which included Zaid Al-Yasiri, director of the Iraq branch, and a number of officials in the company, discussed the prospects for joint cooperation between the ministry and the company.”
Parliamentary Investment: Iraq will become “an arena for foreign companies to compete with”
The Parliamentary Investment and Development Committee confirmed today, Tuesday (April 23, 2024), that during the next stage, Iraq will be an arena for foreign companies to compete for various investments, while an economic expert refutes this belief.
Committee member Muhammad Al-Ziyadi told “Baghdad Today” that “Iraq has many and great investment opportunities in various sectors and in various Iraqi governorates, especially the industrial and agricultural sectors and the various energy fields, and Sudanese’s recent visit to Washington will greatly open the door to the work of these companies.”
Al-Ziyadi stated, “The Iraqi investment arena is not limited to a specific company, but rather it is open to the work of all foreign and Arab companies, and in the next stage, Iraq will be an arena for foreign companies to compete for various investments, and this certainly has great economic benefits for Iraq, and the development of sectors, and there may be a joint opportunity.” Between foreign and governmental sectors or foreign and Iraqi private sectors.”
During its visit to Washington, the Iraqi delegation, headed by Muhammad Shiaa Al-Sudani, signed 18 memorandums of understanding in various sectors, specifically medicine, oil and industry.
In the same context, economic expert Nabil Al-Marsoumi refutes the common belief that Iraq has become an attractive investment environment, and that there are dozens of American companies that want to invest in Iraq and that there are 4,000 billion dollars waiting to enter Iraq to invest in it.
He said: “Such proposals lack scientific, professionalism and professionalism because investment in Iraq is still high risk for individuals and money, especially with the spread of weapons and the lack of a rational state to whose authorities everyone is subject, in addition to the high level of corruption, bureaucracy, red tape, and the backwardness of the banking system and infrastructure, especially electricity.” ".
He added, "What is known is that investment is related to expectations, and investors cannot make long-term expectations in a turbulent environment, especially since the global foreign capital available for investment is scarce and competed for by various countries that are trying to provide packages of benefits to it, including granting investment licenses in just one day, while it is... It takes several months in Iraq, and these reasons are what explain the presence of about 100 billion dollars employed by Iraqi businessmen in many countries, most notably Jordan, the Emirates, and Turkey.”
Al-Sudani directs the ministers to follow up on the implementation of the memorandums of understanding concluded with America and Turkey
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani directed the ministers to follow up on the implementation of the memorandums of understanding and agreements signed with the United States and Turkey.
Al-Sudani’s office stated in a statement received by Mawazine News, “Prime Minister Muhammad Shia’ al-Sudani reviewed, at the beginning of the Council of Ministers today, the results of his official visit to the United States this month, which produced results that are in favor of Iraq in terms of economy, politics, security, and regional stability.” In the interest of building bilateral strategic relations, in addition to signing a number of memorandums of understanding and partnership between the Iraqi public and private sectors on the one hand, and between major leading American companies and financial and banking institutions on the other hand.”
The statement added, "Al-Sudani also reviewed the visit of the Turkish President to Baghdad yesterday, which witnessed the signing of the bilateral strategic framework agreement, and the signing of 26 joint memorandums of understanding for various institutions between the two countries, which will be reflected in the economic and development partnership, in addition to the quadripartite understanding that included Iraq, Turkey and Qatar." And the UAE, regarding the development road project, the investment opportunities it brings, and entering into a new phase of security and economic understandings and in the field of water management and water shares in the Tigris and Euphrates rivers, all of which will push relations forward.”
During the session, the Prime Minister directed the ministers to “follow up the implementation of the memorandums of understanding, and provide the utmost efforts in order to achieve the highest levels of mutual benefit, for all sectors and activities covered by the memorandums of understanding, in addition to assigning the committees concerned with securing the requirements for success and good implementation of the agreements and understandings signed with the states.” United States and Turkey.
The Chinese Ambassador: The Iraqi development road complements the Belt and Road Initiative and does not conflict with it
The Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations meets with the Chinese Ambassador accredited to Iraq.
The Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mr. Muhammad Hussein Muhammad Bahr al-Ulum, received the Chinese Ambassador to Baghdad, Mr. Cui Wei, at the Ministry’s headquarters.
During the meeting, the progress of bilateral relations between the two countries and cooperation on issues of common interest were reviewed. The two parties stressed the importance of Iraq’s participation in the China-Arab Forum in its tenth session, which will be held at the end of next May in the Chinese capital, Beijing. The invitation extended by His Excellency the Minister of Foreign Affairs was discussed. The Iraqi Foreign Ministry called on its Chinese counterpart to visit Baghdad, which was welcomed by the Chinese side in the context of the exchange of high-level visits between the two countries.
Mr. Al-Wakeel pointed out that China is an important point in the economic orientation of the Iraqi government, as it is one of the most important economic partners of Iraq. He also stressed that Iraq’s foreign policy is committed to establishing good relations with all countries of the world on the basis of common interests, respect for sovereignty, and non-interference in the internal affairs of countries, so it is Maintain the same distance from everyone.
Mr. Al-Wakeel appreciated China's positions in support of the Palestinian cause in the midst of the unjust aggression against Gaza, especially China's recent vote in the Security Council in favor of Palestine gaining full membership in the United Nations. Expressing his thanks for the efforts of the Chinese ambassador regarding the issue of direct flights between Baghdad and Beijing.
For his part, the Chinese ambassador stressed that Iraq is an important partner in the Belt and Road Initiative project, and there are fruitful results in this context, pointing to his country’s desire to participate in projects related to establishing the Iraqi development road, which is complementary to the Belt and Road Initiative and does not conflict with it.
He expressed his thanks to the Iraqi Ministry of Foreign Affairs for its cooperation in facilitating the work of the Chinese Embassy, and the efforts made to facilitate the arrival of the needs of the Chinese Consulate General in Basra.
An economic expert criticizes granting Jordanian banks licenses to operate in Iraq: a big mistake
On Wednesday, economic expert Mustafa Akram Hantoush criticized the action taken by the Central Bank of Iraq to grant business licenses to Jordanian banks and operate in the country, indicating that it is the duty of the Central Bank to strengthen Iraqi banks instead of Jordanian ones.
Hantoush told Shafaq News Agency, “The entry of Jordanian banks into Iraq and handing over the Iraqi-owned dollar assets is a big mistake that the Central Bank of Iraq is responsible for,” indicating that “it is better to strengthen the Iraqi banking sector instead of the Jordanian banks only.”
Hantoush continued: "Today we need to further consolidate the work of banks and reduce their numbers, but the Central Bank is moving towards granting new operating licenses to Jordanian banks."
Hantoush pointed out that "thousands of Iraqi bank employees must not be allowed to be laid off in favor of employees from Jordan."
News" publishes the full decisions of the Council of Ministers session
Al-Eqtisad News publishes the full decisions of the sixteenth Cabinet session held on Tuesday, the most prominent of which was raising the acceptance rate of top graduates of technical institutes at universities to 20%.
The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Prime Minister Muhammad Shiaa Al-Sudani chaired the sixteenth regular session of the Council of Ministers, in which the general conditions in the country were discussed, a number of important files were discussed, and topics were discussed.” listed on the agenda and take decisions and recommendations thereon.”
The statement added, "At the beginning of the session, Prime Minister Muhammad Shiaa Al-Sudani reviewed the results of his official visit to the United States this month, which produced results that are in the interest of Iraq in terms of economy, politics, security, and regional stability, and in the interest of building bilateral strategic relations, in addition to the signing of a number of Memorandums of understanding and partnership between the Iraqi public and private sectors on the one hand, and between major leading American companies and financial and banking institutions on the other hand.”
He explained, "Al-Sudani reviewed the visit of the Turkish President to Baghdad yesterday, which witnessed the signing of the bilateral strategic framework agreement, and the signing of 26 joint memorandums of understanding for various institutions between the two countries, which will be reflected in the economic and development partnership, in addition to the quadripartite understanding that included Iraq, Turkey, Qatar, and the UAE. Regarding the development road project, the investment opportunities it holds, and entering into a new phase of security and economic understandings and in the field of water management and water shares in the Tigris and Euphrates rivers, all of which will push relations forward.”
Al-Sudani directed, according to the statement, “the ministers to follow up on the implementation of the memorandums of understanding, and to provide the utmost efforts in order to achieve the highest levels of mutual benefit, for all sectors and activities covered by the memorandums of understanding, in addition to assigning the committees concerned with securing the requirements for success and good implementation of the agreements and understandings signed with the United States and Turkey.”
During the session, the Council of Ministers followed up on service projects, infrastructure projects, and lagging projects, and took a number of decisions related to spare orders and implementation, as follows:
1- Increasing the amount of reserve for the project (construction of the Abu Ghar-Tel al-Lahm quarries road with a length of 45 km) within the project (construction of the Abu Ghar-Tal al-Lahm quarries road) included in the investment budget tables of the Ministry of Construction, Housing, Municipalities and Public Works/ among the priority projects related to the implementation of the Council’s decision. Ministers (301 in 2021).
2- Increasing the total cost of the project (study, design and implementation of an integrated concrete water project with a capacity of 1000 m3/hour, with transmission lines to the Umm Qasr district).
3- Increasing the total cost and reserve amount for the project (reconstruction of Al-Fayhaa Bridge in Basra).
4- Increasing the total cost and reserve amount for the project (Fallujah Third Bridge and its approaches in Anbar Governorate).
5- Increasing the total cost and the amount of reserve for the project (constructing the Juwaiba-Al-Hamidiyah (Al-Mamoun) Bridge).
6- Increasing the total cost and the amount of reserve for the project (completion of the rehabilitation and expansion of Karbala Children’s Hospital/second phase).
7-Developing a project (supervision and control for the establishment of Shatrah General Hospital with a capacity of 200 beds and furnishing), within the total cost of the project.
8- Increasing the amount of reserve for the project (constructing the second corridor of the Batira - Al-Fajr - Al-Budair road, with a length of (163) km, the first phase within Maysan Governorate, with a length of (72) km, increasing the total cost of the project, and creating a project called (the two concrete Sababat bridges).
9- Creating a project called (removing optical cable conflicts for the Sababat Bridges).
10- Increasing the total cost and the amount of reserve for the project (establishing the Palace of Justice in Najaf Al-Ashraf).
He continued, "In order to make room for outstanding students of institutes to complete university studies, the recommendation of the Ministerial Council for Human Development (24011 B) for the year 2024 was approved regarding increasing the acceptance rate of top students who graduate from technical institutes from (10%) to (20%)." For admission exclusively to universities, and to the corresponding or nearby specializations, in order to allow students who are graduates of the institutes to apply to complete their initial university studies.”
He continued, "The Council decided to exclude the backup network project, and the project to rehabilitate and develop the paths of the national optical cable network, from the contracting methods stipulated in the Contract Implementation Instructions No. 2 of 2014, for the purposes of the national mobile phone license, in order to meet the increasing requirements of state institutions for digital transformation projects and secure the needs of... Mobile companies, state institutions, and citizens benefit from the increased Internet capacity, fiber optic projects (FTTH), an alternative to copper landlines, and international transit projects for Iraq.”
He pointed out that "the Council approved the recommendation of the Ministerial Council for the Economy (24131 Q), which included approval of the request of the Ministry of Oil, regarding the issue of converting gas compressors from temporary to permanent customs entry for the benefit of the Basra Gas Company, and the General Authority of Customs transferring gas compressors with (14) compressors from A temporary customs entry to a permanent one, for the benefit of the Basra Gas Company, provided that it is among its assets (the share of the South Oil Company (51%) in accordance with Council of Ministers Resolution (446 of 2012), and payment of the resulting expenses, in accordance with the law, and borne by the Basra Gas Company.” .
He added, "In the field of energy, the Council approved the signing of a memorandum of understanding for associated gas to generate electric power between the Ministry of Electricity and Siemens Energy. It also approved the inclusion of the projects required to be implemented by the Ministries (Planning and Finance) in accordance with the aforementioned memorandum of understanding and the availability of the necessary allocations and funding." The Council voted to grant the Ministry of Electricity the necessary powers to proceed with implementation, as an exception to the contracting methods stipulated in the Instructions for Implementing Government Contracts (2 of 2014), in a way that ensures speedy completion and achieving the desired goal of signing the aforementioned memorandum of understanding.
He pointed out that, "In the same vein, the Council canceled Cabinet Resolution No. (308 of 2019), which included financing the Ministry of Electricity with the necessary allocations to establish a secondary station (400) KV, and financing three (132) KV stations with lines, provided that they are of Outside the Ministry's budget.
The statement confirmed, “The Council approved the draft law to cancel the (defunct) Revolutionary Command Council’s Decision No. (103) on January 27, 1988, which was reviewed by the State Council, and approved referring the draft law to the House of Representatives based on the provisions of the Constitution, as the aforementioned decision had He merged the Department of Relations and the Department of Planning into one department, and abolished administrative formations in the Ministry of Justice. He also abolished the Department of Estate Affairs in the Directorate for the Welfare of Minors, abolished its jurisdiction to release estates in accordance with the Law for the Care of Minors, and entrusted the release of estates to the personal status courts.
He stated that "the draft law for the first amendment to the Martyrs Foundation Law No. 2 of 2016 was approved, which was reviewed by the State Council and referred to the House of Representatives, based on the provisions of the Constitution, taking into consideration the observations that were presented at the Council of Ministers meeting."
He continued, "The Council of Ministers granted the Deputy Prime Minister and Minister of Planning the authority to negotiate and sign a memorandum of understanding between the Ministry of Planning in the Republic of Iraq and the United Nations Population Fund (UNFPA), based on the Treaty Contracting Law (35 of 2015), and the Ministry of Foreign Affairs prepared the necessary authorization document." On behalf of the Government of the Republic of Iraq, the Deputy Prime Minister and Minister of Planning, in accordance with the approved contexts, and submitting it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.
The Council decided, according to the statement, “It was decided to authorize the Minister of Justice to negotiate and sign two draft cooperation agreements between the Government of the Republic of Iraq and the Government of the Republic of Italy, and between the Government of the Republic of Iraq and the Government of the Republic of Uzbekistan, in the field of transferring those sentenced to custodial sentences, based on the provisions of the Constitution, and to prepare a Ministry Foreign Ministry: The necessary authorization document on behalf of the Government of the Republic of Iraq for the Minister of Justice, in accordance with the approved contexts, and submitting it to the General Secretariat of the Council of Ministers to obtain the signature of the Prime Minister.
These are from today WED APR 24 24
Hanoun meets with Swiss anti-corruption officials to remove the obstacle to bank account secrecy
The head of the Federal Integrity Commission and Chairman of the Board of Directors of the Iraq Money Recovery Fund, Haider Hanoun, met today, Wednesday, with anti-corruption officials in the Swiss Ministries of Foreign Affairs and Justice.
Hanoun stressed, in a statement, a copy of which was received by {Al-Furat News}: “The need for all countries falling under the United Nations Convention against Corruption to cooperate in exchanging information and legal assistance to recover their smuggled money and assets.”
Judge (Haider Hanoun), during his meeting, noted Iraq’s compliance with its international obligations with regard to the provisions of the United Nations Convention against Corruption, calling for assistance and assistance to be provided to the Republic of Iraq in order to recover its smuggled funds and assets, no. Especially with regard to some bank accounts through which corrupt people were able to hide the smuggled proceeds of corruption.
Hanoun gave a brief presentation on the nature of the Commission’s work and its various departments, pointing out that the Iraqi legislator did not limit himself to stipulating departments with deterrent and injunctive aspects, such as the investigation and recovery departments in the Commission’s law, but rather went beyond that to stipulate more than one department that undertakes preventive, educational and awareness-raising aspects, pointing to the work of the Commission. To develop the state’s oversight cadres through the Iraqi Anti-Corruption Academy, noting the step of launching diploma studies in specializations related to anti-corruption.
During the meeting, the aspects of joint work, international cooperation and the provision of legal assistance were reviewed, and the points of similarity and difference in the anti-corruption strategy (Iraqi and Swiss), as well as the possibility of exchanging experiences, information and training, and the emphasis on strengthening ties and relationships between countries, concluding memorandums of understanding and the role of this in facilitating the process of Refund and delivery required.
Saleh clarifies the contexts of presenting budget schedules in the House of Representatives
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that “presenting the expenditure and revenue schedules for the fiscal year 2024 is a context undertaken by the legislative authority within its constitutional oversight duties to check on the progress of implementation of the federal tripartite budget law.”
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that “presenting the expenditure and revenue schedules for the fiscal year 2024 is a context undertaken by the legislative authority within its constitutional oversight duties to check on the progress of implementation of the federal tripartite budget law.”
Washington calls on Baghdad to protect American forces after two new attacks
The US Army called on the Iraqi government on Tuesday to take steps to protect US forces in both Iraq and Syria after thwarting two attacks launched by militants allied with Iran yesterday, Monday.
The drone and missile attack was the first of its kind since the cessation of near-daily attacks that culminated in the killing of three American soldiers at a military site in Jordan in January.
With the escalation of tension between the United States and Iran after the Jordan attack, and calls from Republican members of the US Congress for a direct response to Iran, a senior Iranian commander called on the armed factions to stop their attacks at the end of January.
During his statements from the US Department of Defense (Pentagon), Air Force Major General Patrick Ryder did not speculate on the reason behind the renewed attacks, but he called on Baghdad to take action.
He said, "These attacks put coalition and Iraqi soldiers at risk. We call on the government of Iraq to take all necessary steps to ensure the safety of American forces in Iraq and Syria from attacks by these groups."
He added, "If these attacks continue, we will not hesitate to defend our forces as we did in the past."
The United States has about 2,500 military personnel in Iraq and 900 in eastern Syria on a mission to provide advice and assistance.
The United States helped Israel shoot down a huge wave of Iranian drones and missiles on April 14, which Tehran launched in response to an Israeli raid on the first of the same month on the Iranian embassy compound in the Syrian capital, Damascus.
Washington has accused Iran in the past of financing and directing armed factions attacking American forces in Iraq and Syria.
Iraqi Prime Minister Muhammad Shia al-Sudani, who is concerned that his country will become a battleground between the United States and Iran, met with US President Joe Biden this month in an attempt to open a new page in US-Iraqi relations despite escalating tension in the region.
The United States invaded Iraq in 2003 and overthrew its former president, Saddam Hussein, and withdrew in 2011 before returning in 2014 at the head of an international military coalition in response to a request from the Baghdad government for help in fighting the extremist Islamic State.
President Barzani set to visit Baghdad for "State Administration" meeting
A spokesperson to the Kurdistan region's president on Wednesday said that President Nechirvan Barzani will soon travel to Baghdad to attend a meeting of the State Administration Coalition.
Speaking to reporters in Erbil, Spokesperson Dilshad Shahab stressed the importance of ongoing dialogue and cooperation with all parties, emphasizing that the Kurdistan Region Presidency has consistently pursued this approach.
Shahab reiterated the significance of holding the parliamentary elections in the Kurdistan region, stating that it is a "top priority for President Barzani". He noted that Kurdistan is currently facing a "constitutional vacuum" and urged political parties to also "prioritize the region's interests when addressing the election matter."
Commenting on the recent visit of Turkish President Recep Tayyip Erdogan to Baghdad and Erbil, Shahab said "the enduring nature of the relationship between Kurdistan and Turkey is built on shared interests and good neighborliness," stressing that "regional stability remains a common goal for all parties involved."
Shahab noted that President Erdogan's inclusion of Erbil in his Iraq itinerary is an "indication of the strong ties between Iraq, Turkiye, and the Kurdistan Region...The region continues to play a pivotal role in regional dynamics."
Shahab announced that President Barzani will soon visit Baghdad to participate in a regular meeting of the State Administration Coalition, "similar to the previous gathering.
Saleh: Sudanese’s visit to Washington is an “important transition” on the economic and investment levels
The financial advisor to the Prime Minister, Mazhar Muhammad, considered Al-Sudani’s visit to the United States of America an “important transition” in the level of economic and investment relations between the two countries.
Saleh told Al-Sabah: “This visit encouraged major technology companies in America to take on their vital role in the fields of reconstruction and building productive economic partnerships with the activities of the branches of the national economy, especially the private sector.”
He added, "This visit is in the interest of strengthening the fabric of bilateral relations between the two countries, the starting point and objective basis of which remains the strategic framework agreement signed between Iraq and America since 2008," noting that it is "a basic introduction to activating the investment climate and paths of economic cooperation in vital and important areas, foremost of which is energy." science and technology.”
Saleh explained that “financial and banking cooperation will form an important pillar in supporting America’s efforts to support and strengthen the financial and banking market in Iraq,” noting that “the launch of a project to protect and maintain the investment environment in our country and improve government services for foreign investors, especially the investor sector from America, represents the launch of solid official directions.” “In building strong pledges that support the stability of foreign investment activity.”
The financial advisor stated, “This trend is an indication of providing opportunities for success for the work of investors, which requires providing a smooth and easy climate free of inherited bureaucratic obstacles that in the past delayed investment activity in our country and led to adding high and exceptional burdens and costs to the accounts of investment projects, which in the literature has been called the cost of Iraq.” Which means the cost of investment risks outside global measurements. He believes that "the Prime Minister's pledge means that the executive authority will become the direct supervisor of the work of American investors in the selected investment fields in our country."
Financial inclusion indicators
link
they already had this traning on Monday hahaha
Financial inclusion indicators..For more, click here
1 document in Arabic
To/all banks
m Financial inclusion indicators
good greeting ..
In order to prepare a database for financial inclusion indicators in Iraq, which will be essential for measuring financial inclusion rates, we attach to you a database for financial inclusion statistics and loans granted to individuals and companies, provided that this data is collected quarterly and added cumulatively to previous periods. The response must be within (15) days from the date of this circular. We would also like to inform you that a training workshop will be held in the hall of the Central Bank of Iraq on Monday, 4/22/2024, at ten in the morning, for a period of one day only. We hope to nominate two specialized representatives from your bank to attend the workshop for the purpose of training on how to enter data.
with respect.
Attachments:
Excel table of financial inclusion statistics
- Excel table of statistics of loans granted to individuals and companies
A parliamentarian moved to host the central governor after the space travelers scandal
The Parliamentary Finance Committee confirmed its effort to appoint the governor of the Central Bank after the scandal of selling two billion dollars to space travelers, while indicating that the bank failed to contain the currency selling crisis in Iraq. Committee member Mustafa Al-Karaawi said in a statement yesterday that (the committee moved to host Al-Alaq, to seek clarification from him about the documents published by the Financial Supervision Bureau), and added that (the bank and other concerned parties in the currency market failed to contain the dollar crisis in the country), and he continued that (the Customs Authority The Tax Authority also bears responsibility for the instability of the dollar,” calling for “electronic accreditation for all departments, in order to ensure the safety of the entry and exit of goods and amounts accurately and in detail, and thus we can guarantee that there is no smuggling of hard currency or exploitation by some parties illegally.”
He revealed. An economic expert said earlier that space travelers obtained more than two billion dollars through travel tickets presented to currency outlets that were allocated to grant $3,000 to travelers outside Iraq for the purposes of treatment, study, or tourism. Expert Manar Al-Obaidi told the “Game of Chairs” program broadcast by Al-Sharqiya channel that “65 percent of the country’s population is under the age of 24, and about 45 percent is under the age of 18. The 520,000 imaginary travelers received differences of about two billion dollars,” and he added, “The subject Reducing the dollar was the state’s primary concern under any name, due to the pressure on outlets selling the currency. He pointed out that “any method of support with an open market economy will benefit the corrupt.” The documents revealed by the Financial Supervision Bureau regarding a major corruption file in the sale of dollars to citizens traveling outside Iraq sparked great controversy, after the amounts exceeded the threshold of 600 million dollars.
Central bank sales rose yesterday, at the currency auction, to reach $282 million. A statement said: “The bank sold in its auction 282 million, 624 thousand and 465 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash,” stressing that (Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 257 million 194 thousand and 465 dollars, an increase of 93 percent over cash sales amounting to 25 million and 430 thousand dollars), indicating that (the banks that bought the cash dollar amounted to 6 banks.
While the number of banks that responded to requests to increase balances abroad reached 13 banks, while the total number of exchange and brokerage companies participating in the auction was 170 companies). In addition, the National Retirement Authority decided to add contract service and liquidate the rights of the elderly from contracts referred to retirement from 2023 to 2025. The authority said in a statement received by (Al-Zaman) yesterday that it is (based on the provisions of Article 27 Third of the General Budget Law for the years 2023 and 2024 and 2025, it was decided to add other services to the contractual service and liquidate the retirement rights of the elderly, in accordance with the provisions of the Unified Retirement Law No. 9 of 2014), and the statement indicated that (the Authority issued guidance to all its branches) .
The European Union welcomes Iraq's approval of the Singapore Mediation Agreement
The European Union Ambassador to Iraq, Thomas Seiler, welcomed the Iraqi government's signing of the Singapore Mediation Agreement.
Siler said in a tweet on the X website, “I welcome the Sudanese Prime Minister’s government’s signing of the Singapore Mediation Agreement, which is considered a milestone for resolving commercial disputes, and I am pleased that the technical support provided by the European Union to anti-corruption and international arbitration efforts has been important and effective. I call on Parliament to expedite ratification.” On the agreement.
He added that this decision would enhance investments and business in Iraq, and facilitate international trade. This indicates the government's intention to make Iraq an attractive place for investments.
He stressed that the European Union remains committed to providing expertise to the government and the economy.
On April 19, 2024, the United Nations Development Program (UNPD) announced that Iraq had officially signed the Singapore Agreement on Mediation, which is an “important” step towards developing the resolution of commercial disputes in Iraq.
The Singapore Mediation Convention is a standardized and effective framework for international settlement agreements resulting from mediation, which parties conclude to resolve a commercial dispute.
The Singapore Agreement will facilitate international trade by enabling disputing parties to easily enforce and recall settlement agreements across borders.
Companies will benefit from mediation as an additional option to litigation and arbitration in resolving cross-border disputes.
I welcome the Sudanese Prime Minister's government's signing of the Singapore Mediation Agreement, which is considered a milestone for resolving trade disputes. I am pleased that the technical support provided by the European Union to anti-corruption efforts and international arbitration has been important and effective. I call on Parliament to expedite the ratification of the agreement.
— ???????? ???????? Thomas Seiler
For the first time in Iraq... smart seats for charging and free internet in central Erbil (photos)
For the first time in the Kurdistan Region and Iraq, a communications company has begun installing a smart chair in the center of Erbil city, enabling citizens to benefit from free Internet connection and charging mobile phones and smart devices.
The Shafaq News Agency correspondent said that the FTTH company is from the private sector, and its work on the project is still in its early stages, as it began experimenting with installing four smart chairs, indicating that these smart chairs receive electricity through solar energy to distribute it to charge smart devices and provide Internet service for tourists and visitors. Central Erbil and in the market when necessary.
By scanning the code, citizens will have access to high-speed internet and can use the internet connection within a reasonable period of time.
The company decided to increase the number of seats in the next stage, and install these seats in other areas of Kurdistan and Erbil for citizens to benefit from them.
This project is the first in the region and in Iraq in general, as the installation of these smart chairs does not exist in the countries surrounding Iraq.
Only in the Kurdistan Region and Erbil were these smart chairs installed and placed in the city park, serving citizens, residents, and visiting tourists.
Iraq alone possesses 9% of the world's reserves...a magical material to stimulate agriculture and the economy, awaiting investment
Economic researcher Salah Al-Moussawi revealed today, Wednesday (April 24, 2024), that phosphate is a wealth that will not be depleted in Iraq for hundreds of years, while noting that it achieves a double benefit.
Al-Musawi is one of those who worked for years in the phosphate sector in western Iraq at the end of the seventies of the last century, and he is familiar with the numbers and studies that took place for years about this enormous natural wealth and how it can be invested in a way that leads to a qualitative shift in supporting the agricultural sector.
He said in an interview with “Baghdad Today” that “fertilizer prices in global markets approached $1,200 per ton, but in Iraq it can be produced for only $200, and this difference gives farmers momentum to reduce production costs at significant rates,” stressing that “phosphate factories are capable of Producing at least one million and 200 thousand tons annually, but the numbers may double with the presence of new lines, and it could constitute a resource not only for the country but also for neighboring countries due to the difference in prices and quality.”
He pointed out that "the phosphate reserves in Iraq are sufficient to operate at current production levels for hundreds of years without being depleted, meaning that we are facing great wealth," stressing that "the Sudanese government has actually begun to move towards investing Iraq's capabilities in several areas away from the oil file because it is aware of the seriousness of the changes." The importance of diversifying the economy, giving greater importance to agriculture, and ensuring its tools, including fertilizers, for survival and growth.”
Optimally investing in phosphate would achieve two main goals at the same time, which is providing fertilizer at prices equivalent to approximately 15% of the import cost, in addition to finding a new export resource away from oil.
Iraq ranks second in the world in phosphate reserves, as Iraq alone possesses 9% of the total global reserve, according to the Iraqi Geological Survey.
Interesting timing hmmmm
Iraq signs a contract with a Ukrainian company to develop the Okaz gas field
The Iraqi Ministry of Oil announced, on Wednesday, the signing of a contract with the Ukrainian company "Ukrazm Resources" to develop the Akkas gas field at a rate of (400) mmqm.
In a statement received by Shafaq News Agency, Oil Minister Hayan Abdul-Ghani stressed the importance of developing the Okaz gas field in Anbar Governorate, to add a quantity of (400) cubic feet (million standard cubic feet per day) to the national production, which aims to supply electric power generation stations with new quantities of natural gas. .
This came during Al-Hayani’s sponsorship of the contract signing ceremony between the Ministry, represented by the Central Oil Company, the North Oil Company, the Department of Petroleum Contracts and Licensing, and the Ukrainian company UKRZEMRESURS, as well as his sponsorship of the contract for the assignment of the Korean Kukaz Company in favor of the Ukrainian company.
The minister added, "The national effort at the Central Oil Company had previously been able to operate the field within the accelerated plan to supply the Akkas gas station at a rate of (60) megameters."
Al-Hayani pointed out, “The Ministry aims, through the contract with the Ukrainian company, to reach a rate of (100) tankers for the first phase of (1-2) years, and (400) tankers within (4) years.”
For his part, the Undersecretary for Extraction Affairs, Bassem Muhammad Khudair, said, “This contract was achieved after many years of waiting due to the war on terrorist gangs,” noting, “A contract formula was reached with the Ukrainian company to invest in this field with an initial production ranging from one and a half to two years.” It aims to raise the field’s production rates to (100) mqmq, and to (400 mqmq) within four years, through which it feeds the Anbar power station and the Okaz gas station.”
While the Director General of the Central Oil Company, Muhammad Yassin Hassan, said: “Today we witnessed the concession of the Korean company Kukaz to the Ukrainian company to implement and invest in the Akkas field project, which represents an important step towards gas investment, especially in the western region because this region holds a large gas reserve, and we are working to invest it.” “In an optimal way, to supply the national grid with new gas energy that contributes to supporting the energy sector in Iraq and enhances national production.”
Vice President of Visa and General Manager of the Levant region told Al-Iqtisad News: The prizes for our initiative reach $30,000, and that is why we focused on Iraq.
Visa's Everywhere initiative supports fintech companies to address their most pressing payments and commerce challenges, by offering financial rewards, providing a global platform, and accrediting one of the world's most trusted brands.
The Regional Director for the Arab Levant at Visa, Mario Makari, spoke in detail about the initiative, and the reasons that prompted them to choose Levant countries such as Iraq. As for why Visa worked with the Central Bank of Jordan to launch this initiative, it will not be hidden from the corridors of the interview conducted by the “Al-Iqtisad” agency. News" with him.
As an introduction, the Visa Everywhere initiative is an open global innovation competition targeting financial technology companies and startups that have innovative solutions to challenges in the field of digital payments or future commerce.
*What are the criteria that candidates must meet in order to be selected as winners?
The competition is open to the countries of the Arab Levant, specifically Iraq, Jordan, Lebanon and Palestine. The company or person must have a legal status, that is, if it is an individual, he must be above the legal age, i.e. (18) years. However, if it is a company, it must be legally registered in these countries. The second characteristic is that these companies must have a product or service that is related to On the subject of electronic payment, digital transformation, or financial technology, that is, providing solutions for the future payments and trade sector.
*How are the winners of the “Visa Everywhere” initiative selected?
There are different criteria for selecting the winners, one of which is that the service or product is related to what Visa does in terms of electronic payment, in addition to the company’s ability to profit, as well as if the startup company or entrepreneur has obtained a specific investment, and these are among the points that revolve around the ability to make a profit. The success of the product or service provided, as well as many other criteria, including the quality of the product and the extent of its marketing.
*Why did you choose to launch the “Visa Everywhere” initiative in the Levant markets this year?
The peoples of the Arab Levant countries have the ability to receive electronic services, that is, there is acceptance of technology and the technological development that has occurred recently. Therefore, there is a need to digitize the economies and financial services that exist in these societies, and this process requires the presence of emerging companies, entrepreneurs, and companies that provide financial technology services in order to contribute to advancing... Digital transformation of the region's economies, so the Arab Levant countries of Iraq, Jordan, Lebanon, and Palestine were chosen.
*What are the prizes that the company offers to the winners?
The final of the competition for the countries of the Arab Levant will be in Amman, Jordan, on June 2, 2024. As for the winners, the first winner will receive $30,000, and $15,000 for the second. The third winner will receive $10,000, and the winners will be chosen by judges who will be chosen from banks. Central financial companies, companies providing investment capital, or global financial technology companies, so the impact award or award that will be chosen by the attending participants is due to the nature of their vision about the companies that qualified for the final, meaning automatically who will qualify for the final who has the characteristic or ingredients for the success of the service, and by the nature The case will be choosing the services according to the closest or most desirable ones.
*What is the biggest goal of Visa “Everywhere” apart from financial returns?
The financial return is a very important thing for these companies, and the importance of this return that they will receive through the competition, meaning that they will receive financial support without giving up stakes or shares in their companies, that is, free of any obligation, and they can invest it in their companies in ways that they like, and the most important thing is to highlight the work of These emerging companies or entrepreneurs, considering the most important thing they need to appear in the markets and reach the largest possible segment of people interested in investing in their services, and this is the idea of “Visa” through creating this platform.
The idea of Visa granting this platform and giving emerging companies and entrepreneurs who seek success access to all concerned parties is, in itself, more important than the financial return, in addition to the experience they will obtain through the participants and trainers. It will also give them support for the ideas and services they seek to develop.
*What are the non-financial gains for Visa Everywhere award winners?
One of the very important gains is that they obtained some kind of mention from a global company such as Visa, the leading company in the field of financial technology around the world, as a seal of success and a certificate for them.
*How does the “Visa” initiative affect the market in Iraq?
In Iraq, there is a great focus from Prime Minister Muhammad Shia Al-Sudani, the Council of Ministers, in addition to the Central Bank of Iraq, on pushing towards digital transformation, and we see that including Iraq in this competition is only a continuation of the tremendous work being done by the Iraqi state, and gives the opportunity to companies. Iraqi or non-Iraqi are able to contribute to the push towards digital transformation, given that one of Iraq’s problems is financial education and financial inclusion, as there are emerging companies and entrepreneurs in the field of financial technology, who have the ability to contribute essentially to the push towards financial inclusion and financial education through services that They offer it.
There are many startup companies that will be present in the competition, and they will specifically focus on expanding the area of electronic payment acceptance, and there must be people who have access to digital payment services, to attract people and introduce financial inclusion services in banks.
*Why did Visa work with the Central Bank of Jordan to launch this initiative?
The choice on Jordan was entirely from a practical standpoint, that is, when we choose a country from among Iraq, Jordan, Palestine and Lebanon, the choice fell on Jordan because it is the easiest place for everyone, and we focused on the Central Bank of Jordan for several reasons, including its being the central bank, in addition to keeping up with the gigantic plan that The bank presented it a while ago, which talks about developing the banking sector and digital payments, which was launched in 2023.
From social media
Sources: Faction leaders will hold a meeting with an Iranian official to discuss the post-Sudani visit to Washington
Updated 2024*so this isn't good
A Sudanese wanders into one of Ramadi's markets and meets a group of people from the city
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