The ministerial Council of economy, the MCOE is, I can’t emphasise this enough, is that realise that al Sudani, the prime minister, put this together when he was first coming into office in a very short period of time. And if you look at the 28 members, they’re all, everybody was acknowledged on the same day if you go to their website. So that’s something you guys, you can ask that up. Is it terribly important?
So everybody that’s been placed at that MCOe level, ministerial Council of economy with the federal government, is obviously in place and they’re there for a reason. They have a job to do. And al Sudani is the one that is going to dominate in all cases when it really comes down to it, because he’s the top dog, right?
When it comes to the Kurdistan region, they have a similar association and counterparts. It’s pretty common. But realise that the federal government is the top, that’s just the way it’s going to be. These meetings that were in Kurdistan and herbal, we’re probably going to be known as that olive branch, if you will.
Let’s do business, let’s get it together, let’s put everything on the table and let’s do some things. Let’s just do and move forward for all the people, not just the elite, not for any of that. Just let’s get the business to a unified situation. Remember all the words that they were using in all the articles last week and a few days ago, they were using unification.
Unified. They want the unified treasury account.
Could be six months. But they put it together and they have a unified treasury account. So keep those things in mind, and we’re just going to get through this. In brief, the ministerial council of the economy recommended holding a special session at the high level to discuss files of oil, energy, border, ports, crossings.
So those are pretty big money streams. I mean, think about the imports that of Iraq has to do, because they just, they import a lot of goods, but they also export a lot of oil. But now they’ve changed things to be a little bit different. They’re going to be doing what they’ve set out to do in the last 18 to 24 months.
They set out to do the private sector. And that private sector is going to have inputs and outputs. All the country is going to have inputs and outputs, but the private sector is going to help drive the demand for those items. So we might have less inputs and some significant more outputs that just.
Because the point is that oil drives money, energy, other sources, liquid, natural gas, whatever, drives money.
The borders and ports, bringing ins in, inputs, goods. Right. Creates an environment. They have taxes, fees at the ports, customs, etc.
This last weekend, over those two days, they were there to what? To discuss a range of issues of common interest between the federal government and the Kurdistan regional government. So the meeting of the mines happened.
It says that the atmosphere was positive and it was frank in dealing with these issues. And some of them were addressed with immediate decisions. So they had some things that were done that were immediate, like they obviously knew the importance of those things. And that’s big. It’s basically a token to all those at the meeting and to the others that they meant what they were doing. It says through the meeting, a recommendation was made to the federal Council of Ministers stressing continuation of dialogues to address issues that needed to be.
They go on to say that the federal ministry of finance needs, needed to or has to address the salaries of the Kurdistan region. And I believe that they 100% will. But you guys got to remember, though, there’s a lot of impropriety, if you would.
People were like, on the, on the list that don’t exist. I mean, they don’t have a biometric card on these guys or people. And if they don’t, then it’s subject to the audits they have. So they needed to get everybody to the stage of like, look, we’re going to a digital system.
We’re going to effectively a blockchain system, if you will. They’re going to do a system that is going to be transparent. And all of that is going to be very important. Probably so important that they’re going to, or they have had to iron that out.
And that could have been over those two days. But the bottom line was, is that we’re going to find that these things that they were doing are probably going to be in line at the end of the day.
Al Sudani, it’s his game. The Kurdistan region’s not the top dog. And so obviously, they have a say in things.
But the fact remains is that we’re probably going to see some evidence that they don’t always tell us everything in public, but we’re going to find out if they have these meetings because at this stage of the game it’s push come to shove and Al Sadani is probably back to a wall because I think there’s probably some legal ramifications that are in the wind. Remember, there’s some things that are talked about on the Internet that are true. If you go to the ministerial of the judiciary website of Iraq, you’re going to notice that there’s some things missing, one in specific. So keep that in mind and that number might be 4782.
Okay, so 4782 if it’s missing, there’s a reason for it because today they published 4792 and subsequently all of the, all of the different ones too. We’re just missing that one. So there’s obviously a reason for it. And they have to, it’s got to have some sort of a sensitivity issue to it.
All the discussions that to basically affect or will have effect on many revenue streams is really big.
It’s basically them talking to the world because they’re going to have a massive amount of income streams. So if they have a special session that’s set up, they could have had that today, they could have it tomorrow, they could have it the next day. But the bottom line is that they’re going to have these meetings because they pretty much can’t stop. I can see it with Al Sudani’s actions and the fact that Iraq has certain things that have time limits when it comes to the legalities, there’s time limits.
The regional government welcomes the decisions and recommendations of the joint meeting of the federal Kurdistan Economic councils. So, all right, so the regional government makes decisions. Recommendations?
Appreciate them of what? Those meetings that they had with the federal government and the Kurdistan Economic Councils. So it says here, the Kurdistan regional government on Wednesday welcomed the decisions and recommendations of the joint meeting of the ministerial Council of the Federal Economy and the Economic Council of the Kurdistan Region. It says that the prime minister, Musar Bozzani, chaired a meeting of the council of Ministers of the Kurdistan Region government today in the presence of his deputy Talibani, adding that the main axis of the meeting was to discuss the results.
The results of the joint meeting of the Ministerial Council of the Federal Economy, which was the government and the Economic Council of Kurdistan Regional Region. That’s Kurdistan federal government. So the two entities did it on in herbal on the 8 and 9 September to discuss what the procedures and steps of implementation. And they made decisions, well, or steps of implementation of the decisions that were made and the recommendations that emanated from the joint meetings and specialised offices because they were what specialised offices of the council of the Kurdistan Region federal government.
People that are stealing billions and hundreds of billions of dollars, and they’ve been doing it for 20 years, they should have a transparent government. They should have a transparent system. They should be able to shut down the taxes and tariffs and borders of the graft that’s been going on.
They should have a level playing field. They should have a real effective exchange rate that represents a true iraqi economy and a true iraqi value. The assets that the country have, they haven’t all been disclosed yet.
I don’t know for 100% because I didn’t do all the surveys and the geological circumstances for the country of Iraq. But they’ve got a lot of untapped resources and they do as they already stated. They have all the major deposits of major things.
Sulphur phosphates. They have big gold deposits. That’s just a fact. So look, the country has the ability to tap into those.
That keg of the taxes and tariffs at the borders, the economic, religious, tourism. Iraq is an ancient country. They have tourism ability for forever. It’s a place that the Muslims, they go to on a regular base every year.
Look at the numbers of the millions of people that visit Iraq. Millions every year. They got to be fed, food, housed, clothing, entertained. Get it?
When was the last time you went out to, I don’t know, in n Out burger, for instance? You know, you got a family of five because they have like, four, five, six kids, right? Go to in and Out burger. And what’s it gonna cost you?
Probably gonna cost you $100 or more for that one meal just for those people. Think about that in the millions. That’s what kind of revenue stream we’re talking about. And ofcourse taxes on all that stuff.
So put that into your calculator and see what you think.
They talked about equivalence. They go on to state that they raised these topics with the federal government, which emerged from a joint understanding during the joint meeting of the Federal Economic Council and the region. Okay. Those two, and they were all related to what?
Agricultural timings, export and import licensing, laboratory licensing. I wonder if that’s pharmaceuticals. I wouldn’t be surprised. Registration of contractors, foreign business people.
Border crossings, taxes, tariffs, customs. Customs, oil, energy and the banking sector, of all things. Everybody’s going to get what, equivalency contracts. It’s just phenomenal to me. So moving on, the statement that today was pointed out by the council ministers, which basically states they instructed the concerned ministers to continue work of the interior ministerial committees, the concerned sectors in the two governments.
They want them to complete the tasks assigned to them in order to reach a common understanding that is in the interest of all iraqi citizens within the framework of the constitution. Got to remember, equivalency is going to come down to what the citizens rights that are allowed in the constitution.
A lot of money is coming in and one of their constitutional rights is probably going to be a share of that revenue streams, accurately. Revenue streams. Doesn’t that kind of reek of the hydrocarbon law?
I’m wondering what that 4792 in the judiciary was about. I haven’t read it yet. Maybe you guys know, but I got a strong feeling there might be a correlation to that.
They go on to state that Marsur Abbarzani, top dog in the Kurdistan region, reiterated the Kurdistan region will always continue to carry out its tasks. So he’s basically reassuring Baghdad and you and I that what we’re willing and we’ve going to do what we said we’re going to do. And we hope in return that when we do what we said we’re going to do, we get the respect and constitutional rights and the federal entity of the Kurdistan region get it. They get what they have, the constitutional rights and that’s where they’re leaving it.
It says the Economic Council of the Kurdistan region to approve these recommendations of the joint meeting with the Federal Ministry of Economic Council. So the Kurds and the Baghdad, they are basically saying to themselves that they are going to effectively approve the recommendations of this meeting between the two. In what? Preparing to hold a joint meeting with the Economic Council of Ministers in Baghdad to continue meetings and sessions in order to reach an appropriate solution to the remaining issues.
One of the key factors I want you to come back to is that the fascinating thing is that they will have equivalence. That’s a key word. Equivalent value to me is fair. What is fair? Being on a level playing field.
