Clare: Inclusion of commercial centers and private stores in the electronic payment system in Iraq
7/20/2024 Baghdad
The government media team announced, today, Saturday, ongoing directives and government follow-ups to include all shopping centers, pharmacies, medical clinics, shops and private stores in the electronic payment system.
The team’s spokesman, Haider Majeed, said, “The official institutions continue to implement the decisions of the Council of Ministers and the directives of Prime Minister Mohammed Shia al-Sudani regarding the digital transformation process in the electronic payment file, which is one of the most important priorities of the government program.”
He added, “The electronic payment process began in 10 government fuel stations in the capital, Baghdad, distributed between Karkh and Rusafa, and then the work expanded to all fuel filling stations in the governorates of Iraq, after which it included all private fuel filling stations.”
Regarding official institutions, Majeed confirmed that “most of the institutions that provide services and have direct contact with citizens operate with the electronic payment system, starting with the Directorate of Passports, Nationality and Civil Status, followed by the Ministry of Health institutions, public clinics, and then the rest of the operating institutions in succession.”
He pointed out that “there are ongoing directives from the government and follow-ups between the Central Bank of Iraq, the Ministry of Finance, and the rest of the official institutions, to include private stores, pharmacies, medical clinics, shops, and markets in malls in the electronic payment file,” stressing that “work is continuing in this regard.” LINK
Clare: Iraq participates in UNCTAD technical meetings.. What is its relationship to international trade?
7/20/2024 Baghdad
The Ministry of Commerce announced today, Saturday, its participation in the technical meetings of the UNCTAD regarding the accession of Arab countries to the World Trade Organization in Istanbul.
The ministry stated, in a statement received by “Al-Eqtisad News”, that it “participated today in the technical meetings organized by UNCTAD in Istanbul, which will last for two days, to discuss the experiences of Arab countries in joining the World Trade Organization.”
Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, who represented the Ministry of Trade in these meetings, said, according to the statement, that “the meetings discussed the outcomes of the 13th Ministerial Conference of the World Trade Organization, the process of Arab countries joining the organization, and how Iraq can benefit from these experiences in its process of joining. The importance of trade in services in supporting the economies of Arab countries and enhancing their growth was also reviewed.”
Al-Hashemi stressed that “Iraq’s participation in these technical meetings enhances the experience of the Iraqi negotiating team and pushes it to move forward quickly towards achieving full accession to the World Trade Organization, as the exchange of knowledge and experiences gained from these meetings will have a significant positive impact on improving Iraq’s negotiating capabilities and achieving its economic goals.”
The statement indicated that “this participation is part of the ongoing efforts made by the Ministry of Trade to enhance Iraq’s international economic relations, and to take advantage of the available opportunities to enhance economic and commercial development in the country.” LINK
************
Clare: Members welcome Iraq’s return to WTO accession talks after 16 years
18 JULY 2024
ACCESSIONS
At the third meeting of the Working Party on the Accession of Iraq on 18 July, WTO members welcomed the formal resumption of the country’s accession process after a 16-year hiatus, commending Iraq for its renewed political commitment and engagement in the accession process.
Iraq reaffirmed its pledge to join the WTO, highlighting significant economic and legislative reforms.
Mr. Atheer Dawood Salman Al Ghrairi, Iraq’s Minister of Trade, led a high-level delegation from Baghdad at the third meeting of the Working Party. Ambassador Saqr Almoqbel of the Kingdom of Saudi Arabia, who chaired the Working Party for the first time since his appointment last year, welcomed Iraq’s return to Geneva after many years, highlighting the significance of the formal resumption of Iraq’s accession process. “The Minister’s presence here, the first since 2008, sends a clear signal that Iraq’s accession process is now back on track,” he remarked. The Working Party held its second meeting in April 2008 and an informal meeting in November 2017.
The Chair acknowledged “the tremendous efforts by everyone, of course, starting with Iraq, but also members and partners, as well as former Chair Ambassador Omar Hilale of Morocco, to make today’s meeting a reality”. He also referred to his visit to Baghdad in January 2024, where he met with senior Iraqi government officials, including President Abdul Latif Rashid.
Minister Al Ghrairi noted the importance of the meeting, which “represents a distinctive step for the Government and the people of Iraq towards becoming a full-fledged member of the WTO, a target we seek to achieve as a means to enhance our national economic strategy and integration in the global economy”. He further stated that despite ongoing security, political, and regional challenges, “the Government of Iraq remains steadfast in its commitment to pursue a reform agenda in terms of enhancing trade policies, boosting the business environment, and creating favourable conditions for foreign investment.”
Minister Al Ghrairi highlighted the special importance attached by the Government to aligning its trade policies and regulatory frameworks with international rules and standards and strengthening institutional capacities to meet WTO requirements. “The National Committee on Iraq’s Accession has intensified efforts and made substantial progress in fulfilling the accession requirements,” he said. Ahead of the third Working Party meeting, Iraq submitted key negotiating documents, including its initial market access offers on goods and services.
WTO Deputy Director-General Xiangchen Zhang stressed the significance of this meeting not only for Iraq but also for the Arab region, which still has a large number of accessions under way. “As the largest region outside the multilateral trading system, this moment signifies a renewed opportunity for progress and collaboration towards accession for Iraq and hopefully other Arab nations aspiring to join the WTO, enhancing regional and global trade dynamics.” He also emphasized the importance of technical assistance and capacity building in the region, especially for Iraq in view of its status as a post-conflict country.
Members highlighted the significance of Iraq’s accession for the multilateral trading system. Many Arab members emphasized that Iraq’s accession would contribute to regional integration efforts in support of peace and security. Other participants in the meeting included observer governments and international organizations.
Iraq provided an update on its initial contacts with members regarding bilateral market access negotiations, noting that initial offers on goods and services were submitted in early May. The Iraqi delegation expressed readiness to further engage with WTO members.
The Working Party discussed various aspects of Iraq’s foreign trade regime based on its revised Memorandum of the Foreign Trade Regime (MFTR) and other supporting documentation. Iraq provided a report on legislative developments, highlighting its latest efforts to conform with WTO-related rules.
Next steps
The Chair invited Iraq and WTO members to intensify bilateral negotiations on market access, building on the recent contacts.
The Chair invited members to submit specific questions in writing by 15 August. He also asked Iraq to provide replies to members’ questions and to submit other requested accession documents. The Chair asked the WTO Secretariat to work with Iraq to revise its MFTR, which will serve as the basis for continuing the examination of Iraq’s foreign trade regime at the next meeting of the Working Party.
In addition, the Chair asked Iraq to revise its Legislative Action Plan and submit copies of WTO-related legislation to provide an up-to-date picture of ongoing reforms.
The importance of technical assistance was emphasized, with several members and international organizations offering support. The Secretariat plans to organize a Round Table to discuss Iraq’s technical assistance needs to further facilitate its accession process.
The Chair suggested that the fourth Working Party meeting could be scheduled for the first quarter of 2025, contingent on the progress of the outlined steps.
Clare: Parliament’s agenda for tomorrow
7/20/2024
The Media Department of the House of Representatives announced today, Saturday, the Parliament’s agenda for tomorrow, Sunday.
TRANSLATION:
Republic of Iraq House of Representatives
The fifth electoral session, the third legislative year, the second legislative term
In the name of God, the most gracious, the most merciful
Republic of Iraq House of Representatives
Reading) verses from the Holy Quran, I hate pain
First: First reading! Economy and Industry for the draft law reforming economic laws. (Committee on Commerce, Committee on Investment and Development, Committee on Legal, Committee on Finance), (16 articles). One
Agenda for Session No. (2), Sunday, July 21, 2024
Second: The first reading of the proposed law on the first amendment to the Law of the National Authority for Nuclear, Radiological, Chemical and Biological Control No. (1) of 2024. Health and Environment Committee (2 articles). F
Third: The first reading of the draft Islamic investment sukuk law, the Finance Committee, the Legal Committee, the Investment and Development Committee (19 articles).
Fourth, report and discuss the second reading of the draft law on compensation for the properties of those affected by the former regime.
Paradise for martyrs, victims and political prisoners).
No Najoma Ni Novineh Ran
The session begins at eleven in the morning LINK
************
Clare: $27.5 billion is the volume of trade exchange between Iraq and China in the first half of 2024
7/20/2024 Baghdad
An economic institution announced that the volume of trade exchange between Iraq and China during the first half of this year amounted to $27.5 billion.
The head of the Iraq Future Economic Foundation, Munar Al-Obaidi, said that “Chinese exports to Iraq grew in the first half of this year by 16.17% compared to the first half of 2023, and by 12.17% compared to the second half of 2023.”
He added that “the total value of Chinese exports to Iraq amounted to $8.15 billion in the first half of this year compared to $7 billion in the first half of 2023 and $7.3 billion in the second half of 2023.”
Al-Obaidi continued: “Chinese exports to Iraq during 2024 are expected to exceed $16 billion, which is the highest historical value.”
He explained that “China’s exports of electrical appliances, which mainly include air conditioners, amounted to 23% of China’s total exports, followed by exports of electronic devices represented by mobile phones, televisions and the like By 13%, and Chinese cars ranked third with 6% of the total value of Chinese exports to Iraq.
He explained that “China’s exports of iron-based materials declined, and China’s exports of car fuel decreased by 95%, in addition to a decrease in exports of clothing accessories.”
He pointed out that “in contrast, China’s exports of fruit-based products increased by 62%, ranking 14th among the most exported goods to Iraq.”
He stressed that “the volume of trade exchange between Iraq and China amounted to $27.5 billion in the first half of this year, up by 14.38% compared to the first half of 2023 and 7.24% compared to the second half of 2023, and it is expected that trade exchange with China will reach more than $55 billion by the end of this year, making it Iraq’s largest trading partner.” LINK
