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Trade: Iraq Proposed The Formation Of An Economic Bloc Of Three Countries

Economie| 01:54 – 25/11/2021  Baghdad – Mawazine News  The Ministry of Commerce announced, on Thursday, that Iraq has submitted a proposal to form an economic bloc of three countries, indicating that the aim is to compete with the economies of the world.

A spokesman for the Ministry of Commerce, Muhammad Hanoun, said in a statement to the official news agency, which was followed by / Mawazine News /, that “Iraq raised during the Economic Forum for Investment and Contracting in Turkey the importance of forming an economic bloc from the regional countries (Iraq, Turkey and Iran),” noting that “the goal of forming the bloc As an economic competitor that competes with the economies of the world because of the economic effects that these countries have.”

He explained, “Iraq presented its vision of forming an economic bloc to compete with economic developments and confront other blocs,” noting that “the region needs an economic bloc that possesses wealth, money and labor to compete with the world’s economies through an economic bloc capable of confronting economic blocs that already exist.”

He added, “Iraq, through the Ministry of Trade, put forward an idea in Turkey to form an economic bloc,” noting that “it will be presented in the form of a proposal through the Council of Ministers or the Ministry of Foreign Affairs and our commercial attaches, and communication will be made with countries in order to exchange ideas and information and how to form the bloc. What are the qualifications for the ability to face problems?

Hanoun added that “the Ministry of Commerce seeks for the economy to be the one that leads the policy, and therefore the economy today is the engine for the economies of the world,” explaining that “the first step began in Turkey and was an Iraqi message that the economy must play a key role in political engines and a tool for protection.” The region, through compatibility with other blocs, needs the resources and wealth in the region.”

He stated that “Iraq possesses great and enormous wealth that allows it to be a major economic player,” pointing out that “there are problems that have had a dimension of economic backwardness and the lack of a clear economic vision. First, towards strengthening economic relations, and then towards the world.”

Hanoun stressed, “the need for Iraq to return to an important economic player, and all indicators allow it to be able to compete and enter into one of the important axes that manage the wheel of the economy in the world,” noting that “the Iraqi delegation in Turkey stressed the need for international companies to enter Iraq to invest to build Factories, importing machines and equipment, relying on the national product, self-capacity, and rehabilitating banks, and this was discussed in Turkey to benefit from the Turkish expertise.

And he indicated, “Iraq needs well-considered decisions that have the ability to change through an economic policy that allows it to benefit from its experiences and the competencies of its children.” Ended 29/b88

https://www.mawazin.net/Details.aspx?jimare=176297

Al-Nusairi Dedicates His Honor With The International Creativity Medal To The Central Bank And The Association Of Iraqi Private Banks 

part of the honor

money    and business Economy News _ Baghdad  The Fourth International Scientific Conference on Creativity and Innovation was held at Gilgamesh University, under the auspices of the Minister of Higher Education and Scientific Research.

The conference included five axes, namely scientific research, patents, industrial models, innovations, fine arts, exhibitions and book signings.

On the sidelines of the conference, a signing ceremony was held for the two books of the adviser to the Association of Iraqi Private Banks, Mr. Samir Al-Nusairi, marked (The Iraqi economy .. Challenges of collapse and the strategy of revival) and (Our economy and the reform movement), and he was honored with the International Creativity Medal for his distinguished efforts in writing economic books and his participation in the conference activities.

Al-Nusairi gave the honor to the Central Bank and the Association of Iraqi Private Banks for their continuous support for more giving in the service of our national economy and banking sector.

Number of Views 138 Date Added 25/11/2021   https://economy-news.net/content.php?id=26855

The World Bank Warns Of An Imminent Crisis In Iraq’s Water Resources

Money  and business  Economy News _ Baghdad   The World Bank confirmed, today, Thursday, that Iraq may witness a 20 percent decrease in water resources by 2050 due to climate change, warning of the repercussions of this on growth and employment.

In a statement accompanying a new report, Saroj Kumar Jha, Regional Director of the Mashreq Department at the World Bank, said: “Without taking concrete measures, the constraints in the water sector will result in significant losses across multiple sectors of the economy, and will affect more and more needy Iraqis. “.

The report warned that “by the year 2050, an increase in temperature in degrees Celsius and a decrease in precipitation by 10 percent will lead to a 20 percent decrease in the available fresh water” in Iraq.

“Under these conditions, the water will not reach nearly a third of the irrigated land,” he added.

Real GDP could fall by as much as 4 percent, or $6.6 billion, compared to 2016.

The report added that “water scarcity” had begun to cause “limited-scale forced displacement”, especially in the south of the country.  Views 73 Date Added 11/25/2021   https://economy-news.net/content.php?id=26854

Oil: Revenues Last Month Amounted To More Than (7) Billion Dollars

Economie| 01:09 – 25/11/2021   Baghdad – Mawazine News   The Ministry of Oil announced, on Thursday, the total oil exports and revenues achieved for the month of last October, while indicating that the revenues amounted to more than 7 billion dollars.

A ministry statement received by Mawazine News stated, “According to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), the amount of crude oil exports amounted to (96) million (708) thousand and (660) barrels, with revenues of (7). One billion (666) million and (495) thousand dollars.”

He added that “the total quantities exported of crude oil for the month of last October from oil fields in central and southern Iraq amounted to (93) million and (386) thousand and (975) barrels, while the quantities exported of Kirkuk oil through the port of Ceyhan were (3) million. and (11) thousand and (917) barrels.

He added that “the average price per barrel amounted to (79,274) dollars,” noting that “the exported quantities were loaded by (32) international companies of different nationalities, from the ports of Basra, Khor Al-Amaya, mono-buoys on the Gulf and the Turkish port of Ceyhan.

https://www.mawazin.net/Details.aspx?jimare=176289

Governor Of The Central Bank Of Iraq Meets His Turkish Counterpart

November 25, 2021   The Governor of the Central Bank of Iraq, HE Professor Mustafa Ghaleb, the governor of the Central Bank of Turkey, met with His Excellency Shehab Goghu, in Istanbul, meet the invitation from the Turkish side. The development of banking and financial relations between the two countries.

During his meeting with his Turkish counterpart, Mr. Al-Mohair said our visit was aimed at developing banking relations between the two countries and supported the opening of Iraqi banks in Turkey and opening mutual accounts, contributing to the development of trade relations between the two countries on the basis of reciprocity.

His Excellency the Governor called on his Turkish counterpart to provide facilities for Iraqi banks, which facilitates the settlement of trade balance between the two countries and transforming the funds for Iraqis living in Turkey.

His Excellency the Governor of the Central Bank of Turks hailed the efforts of the Central Bank of Iraq in the development of the national economy, stressing that he was ready to open the doors of cooperation and facilitate banking operations between the two countries.

information Office  25 November 2021

Or

The Governor of the Central Bank of Iraq meets his Turkish counterpart

November 25, 2021

The Governor of the Central Bank of Iraq, His Excellency Mr. Mustafa Ghaleb Mikhaif, met the Governor of the Central Bank of Turkey His Excellency Mr. Shihab Kavuoglu, in Istanbul, at the invitation of the Turkish side.

The development of banking and financial relations between the two countries was discussed.

The Governor said, during his meeting with his Turkish counterpart, that our visit aims to develop banking relations between the two countries, support the opening of branches of Iraqi banks in Turkey and open mutual accounts, in a way that contributes to the development of trade relations between the two countries on the basis of reciprocity.

His Excellency the Governor called his Turkish counterpart to provide facilities to Iraqi banks to facilitate the settlement of the trade balance between the two countries and the transfer of funds belonging to Iraqis residing in Turkey.

His Excellency the Governor of the Central Bank of Turkey praised the efforts made by the Central Bank of Iraq in developing the national economy, stressing that he is ready to open the doors of cooperation and facilitate banking operations between the two countries.   https://cbi.iq/news/view/1878

 

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