Launch of the Iraqi-Azerbaijani Businessmen Forum in Baku
The Azerbaijani capital, Baku, witnessed the launch of the Iraqi-Azerbaijani Businessmen Forum on Tuesday, in the presence of the Iraqi Minister of Trade, Athir Al-Ghariri, and the Azerbaijani Minister of Economy, Mikail Jabbarov.
In a speech he delivered at the forum, Al-Ghariri referred to the depth of historical relations between Iraq and Azerbaijan, and the importance of strengthening them by establishing real partnerships between businessmen from the two countries, which would contribute to enhancing economic growth, according to the Russia Today Arabic website.
Al-Ghariri called on Azerbaijani companies and investors to enter the Iraqi market and explore available investment opportunities, stressing the need to increase the export of Iraqi products to Azerbaijan.
He stressed the importance of cooperation in the field of localizing the gold industry in Iraq, where they discussed ways to benefit from Azerbaijani expertise to support and develop this vital sector in a way that serves the Iraqi economy.
For his part, Azerbaijani Minister of Economy Mikail Jabbarov stressed his country’s keenness to develop trade and investment relations with Iraq.
The forum was attended by a large number of Iraqi and Azerbaijani traders and businessmen.
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Clare: Is the decline in oil prices related to the rise in exchange rates? An “important” clarification from Al-Alaq
The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, that all transfers are subject to auditing processes, while he indicated that the decline in oil prices has nothing to do with the rise in the exchange rate.
Al-Alaq told the official agency, which was followed by “Al-Eqtisad News”, that “the Central Bank provides the dollar at the official price to all commercial and personal channels, travelers, and all types of operations that represent legitimate activities, operations, and requests.”
He pointed out that “any price outside the country is a price that only indicates the existence of abnormal operations that attempt to deviate from the official and legal system and the correct fundamental channels,” stressing the need to “focus on the amount of sales carried out by the Central Bank at the official price and those seeking the dollar, whether they are traders, importers, individuals or travelers.”
He pointed out that “methods have been put in place for each channel to secure the provision of dollars on the one hand, and a very large degree of oversight to verify the integrity of the pre-operations before they are implemented,” noting that “this is a major shift in foreign transfer operations, as they were previously audited at a later stage, and today all transfer operations are not carried out or implemented except after they are subject to the auditing process.”
He explained that “the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has foreign currency reserves that enable it to defend the exchange rate.”
