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KRG Prime Minister Thanked for London and Britain Support to the Region

iraqidinars — Fri, 30 Jan 2015 04:20:22 +0000

Prime Minister in the Kurdistan Region, Nechirvan Barzani, received the Mayor of London, Boris Johnson, who was accompanied by the British Parliament, Nadhim Zahawi, and other British agents.

Mr. Johnson, the Mayor of London, uttered his pleasure for visiting the Kurdistan Region and personally witnessesd the achieved developments. He watched the progress completed by the Kurdistan Peshmerga forces during their battle against the ISIS or known as the Islamic State terrorist association. He well thought-out that the threats of this terrorist association surpassed the borders of Kurdistan to the whole world.

He also emphasized the yearning of London and Britain to construct solid relations with the Kurdistan Region, which would empower participation with the public sector and venture by private companies in Britain in different economic sectors in Kurdistan.

Prime Minister Barzani expressed his appreciation to the mayor of London for his and his delegation’s visit, which he described as a move that would help to observe closely the situation in the Kurdistan Region.

Prime Minister Barzani communicated his administration’s appreciation Mr. Johnson for his concern as well as the military support by the British government, taking a review that the government and the public of Great Britain have supported the Kurdistan Region in the most recent century.

He as well reiterated the desire of the Kurdistan Regional Government to build connections with Britain then benefit from its knowledge. He expressed his expectation that the United Kingdom will grant their military support and weapons to Kurdistan Region Peshmerga forces for their battle against terrorism.

Mr. Boris Johnson, saying, “Over the last decade Kurdistan Region has seen considerable economic growth and social development, and I’m here to mark London’s role as an active ally in this … The links between Britain and the Kurdistan Region are developing at an incredible pace, there is a dynamic and forward looking leadership here.” He considered the Kurdistan Region as an “area that has become a success story for the Middle East.”

Disclaimer:

Dinar exchange is not an investment company. Any information found on this site should not be taken as investment advice. – See more at: http://dinarexchange.com.au/#sthash.8RhuDEcI.dpuf

Iran Gives Support for Iraq Democratic Process

iraqidinars — Sat, 30 Aug 2014 07:23:01 +0000

According to Ali-Akbar Velayati, Head of Center for Strategic Studies, Iran has specified its full support for the democratic process in Iraq as well as the Iraqi country’s decision. The ‘support’ refers to the Iraqi parliament for electing new Prime Minister.

Velayati, who is also an advisor on international affairs to the Supreme Leader, additionally stated to media when he was asked to comment on the arrangement of Iraqi President Fouad Massoum of Heidar al-Ebadi to form a new government.

“We are happy that the Iraqi democracy is working and Iraqi people have the chance to elect their representatives and the same representatives elect the president, parliament speaker and the prime minister in a democratic process,” Velayati said.

In his comments, Ali-Akbar Velayati, Head of Center for Strategic Studies has had called over President Hassan Rouhani’s management of domestic and foreign affairs, saying, Rouhani administration has tried its most excellent way since taking office a year prior.

He said that taking into consideration of different issues in the field of foreign policy together with the nuclear issue and the arbitrary sanctions confronting the administration, President Rouhani has acted upon very well. He longed accomplishment for the legislature to have the capacity to handle the issues.

Disclaimer:

Dinar exchange is not an investment company. Any information found on this site should not be taken as investment advice. – See more at: http://dinarexchange.com.au/#sthash.8RhuDEcI.dpuf

Iraq Seeks to Become a Global Organized Commerce Zone via Multimodal Transportation

iraqidinars — Thu, 12 Dec 2013 00:50:17 +0000

Experts in both the public and the private sectors anticipated that Iraq would be a global organized commerce zone amidst the growing global changeable condition in economics, manufacturing, and trade.

Transportation Ministry Administrative agent Salman Bahadli said in an interview that during 10 years ago, Iraq has unsuccessfully profit from the opportunities and has been expecting income from fitting investment in the sector of transportation, particularly with the rise of mega- and big projects executed by Arab and international countries, which utilized diverse methods to exchange their merchandise to Iraq.

According to Bahadli , the service examined the possibility of profiting from the transportation area, and in this manner reacted to the solicitation of the Economic and Social Commission for Western Asia to enter into a congregation of multimodal transportation-of-merchandise. The ministry has indeed prepared a specific law for the congregation and submitted it to the Iraqi Council of Ministers. And they recently submitted the law to the Council of Representatives, right after they received the approval on April 25^th.

“The convention aims to unify the legal rules applicable to the multimodal transportation of goods in the framework of one transportation process that is governed by a single contract that falls under the responsibility of the contract drafter, namely the multimodal transport contractor,” pointed out by Bahadli.

He as well added that they expect Iraq will soon develop into one of the major trade-exchange areas all over the region and the world. The law to implement will provide shippers a free choice to prefer between multimodal transport services and partial transport services, at this time the customs dealings have been made easy, and the required interest has been prearranged to the problems facing transit countries.

On the other hand, Mahma Khalil, member of the parliamentary Committee on Economy and Investment of Iraq also share his part that it is very important to propose rules corresponding to international standards like the Convention on the Facilitation of International Maritime Traffic and the International Federation of Freight Forwarders Associations. Along with other agreements, this is to ensure operation requirements.

Moreover, Iraq also needs to resort to logistic thinking, to propose model rules intended for the disposal of shipping containers as well as atypical documents for multimodal transportation.

Disclaimer:

Dinar exchange is not an investment company. Any information found on this site should not be taken as investment advice. – See more at: http://dinarexchange.com.au/#sthash.8RhuDEcI.dpuf

Iraqi Foreign Minister Lecture at the U.S. Chamber of Commerce

iraqidinars — Fri, 01 Nov 2013 21:15:38 +0000

Aiming for the massive economic and US-Iraqi trade relations, U.S Chamber of Commerce organized at its headquarters located in Washington and the U.S. representatives for the seminar Iraqi Foreign Minister Hoshyar Zebari to convey an address and lecture to the officials and delegates of U.S.

The Deputy Assistant U.S. Secretary of State, Mr. Brett Macurik gave the Minister to go as well as the Mr Joske Kochiwho is the Vice President of the Chamber.

The event was participated by an extensive number of American businessmen, military and major in the U.S. companies, diplomats and ambassadors that operate in Iraq within the fields of transportation and infrastructure, energy, information and services departments.

The minister has investigated the quantity of trade relations along with the investment prospects to be accessed and the conditions overarching political as well as in the security fields and sectors accessible for the work of companies in Iraq, and focused on the yearning of the country to clear a path for U.S. companies and organizations to work in Iraq.

The Minister has brought up that the volume of trade exchange in collaboration of Iraq and the United States of America in the current year that reached 21.3 billion dollars along with the exports of Iraqi oil production to the United States earning up to $19.3 billion.

With the U.S companies operating in Iraq, Iraqi economy gain opportunities from various sectors as mentioned before. As a result, the said seminar helps enlighten to U.S. operators in Iraq their accountabilities as part of the trade exchange.

Disclaimer:

Dinar exchange is not an investment company. Any information found on this site should not be taken as investment advice. – See more at: http://dinarexchange.com.au/#sthash.8RhuDEcI.dpuf

Happy Friday

iraqidinars — Fri, 04 Oct 2013 05:40:49 +0000

Happy Friday

Parliamentary committee formed in order to resolve the differences on the law of oil and gas

iraqidinars — Wed, 29 Aug 2012 12:48:13 +0000

A parliamentary committee commission on oil and energy was formed with an objective to resolve the disparities on the law of gas and oil. The parliamentary committee comprises of 12 deputies.
MP Furat al-Shara, who is a member of the committee said that the gas and oil laws are key laws that can regulate the relations between the Federal government and its regions, more so the Kurdistan region. Admittedly, this will have a positive impact on the established relationship between giant companies in various parts of Iraq and the Federal Government.
The press statement indicated that 4 paragraphs out of 54 legal clauses in the law of gas and oil focus on a difference between the Kurdistan region and the Government. They pinpoint issues related to ownership, fitness and management.

Sanctions on Iraq do not include food transactions.

iraqidinars — Mon, 27 Aug 2012 20:36:13 +0000

The Iraqi Media Network’s center brief reported that the sanctions by the Central Bank of Iraq on the Iranian side do not include humanitarian and transaction food. The bank governor, Sinan al-Shabibi’s said that the trade relations that are concerned with food are bound to continue normally with Iran as they are covered by the draft UN sanctions.
It is however expected that Iraq must abide with the internationalism concerning sanctions on Iran. This comes after the Central Bank of Iraq had granted the U.S. banks power to freeze any assets that were in any way linked to the Iranian Government.
The step taken by Washington is identified after a recent campaign that mounted in attempts to fill gaps in the sanctions that had been placed on Tehran because of its nuclear program.
The Central Bank is thus considered as an independent body that can regulate the banking sector as well as promoting a financial system that is independent and competitive. This will be experienced between the government, foreign banks and private banks.

The existence of foreign banks in Iraq

iraqidinars — Mon, 27 Aug 2012 19:38:23 +0000

The World Trade Organization places a requirement in Iraq, that facilitates the presence of branches of foreign banks in Iraq. A law of the Central Bank in 2004 allowed foreign banks to open branches in Iraq. This was ascertained by the deputy central bank Mhaaft.
His message indicated that the financial openness between foreign banks and Iraq will have positive impacts on the local economy in Iraq. This is facilitated by a competitive environment that will be created between Iraqi banks and the foreign banks as they both focus on money local.
The Central Bank supervises the opening of branches of foreign banks in Iraq and the respective conditions under which licenses are granted to such banks.
Wok permits for foreign banks are granted under a disclosure of the amount of funds and the sources that form the foundation of Iraqi investment. It is also mandatory that any fines or penalties that are imposed for the supervisory authority. These are just but a few of the requirements that foreign banks must fulfill.

House representatives scheduled for next Tuesday

iraqidinars — Sun, 26 Aug 2012 21:24:14 +0000

A number of bills had been postponed by the House Representatives, until after the Eid al-Fitr holiday. The UN High Commissioner for Human Rights law and the general amnesty law are among the bills that were postponed, including the work of the Electoral Commission. This was as a resulted from a number of disputes that arose amongst board members.
The house is scheduled to resume on Tuesday for the first session of the current legislative term after the holiday.
The first reading is scheduled as the reading of the draft law on ratification of the convention that involves Arab ship repair and ship building that was approved by Law No. [58] For the year 1974.
The second reading is scheduled for the proposed law which is the First Amendment to the Law Office of Financial Supervision No. [31] 2011. This will also include the First Amendment to the Law Commission on Public Integrity.
There is also a draft law on ratification of the TIR convention of goods and people between the Government of the Hashemite Kingdom of Jordan and the Republic of Iraq’s Government.
The recommendations on the Tripartite Commission that stand for the subject of oil pipelines that pass through Babylon, are also scheduled for discussion.

World Bank strategies in cooperation with Iraq for the next four years

iraqidinars — Sat, 25 Aug 2012 20:59:32 +0000

The center for the Iraqi Media Network informs that a political strategy for the implementation of projects by the World Bank for the next four years is underway.
The government and the World Bank will engage in a Higher Strategic Cooperation regarding the implementation of profound projects that will be implemented in four years time.
The strategy will be examined by representatives from the Ministry of Finance of Iraq, at the World Bank. On the other hand, Iraq proposes that the projects should be financed by the strategic character and the World Bank.
According to the announcement of the World Bank, the billion dollars are allocated for project services implementation in the health and education sector in Iraq.