Millionday newstime July 3, 2015 Part 2 of 2
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Pablo: Are they still voting in these laws tomorrow?
Millionday: ACCORDING TO REPORTS THE ONLY THING THAT SHOULD BE ALLOWED TO STAND IN THE WAY SHOULD BE THE CONSTITUTION ONLY -- SO WE WILL BE DIGGERS
Millionday: FOR EVERY SPEC OF NEWS ACCORDING TO WHAT IS OUT THERE ABOUT THE PASSING LAWS
Millionday: A British trade delegation visited Erbil this week, apparently unbothered by the fact their initial flight was cancelled six weeks ago due to ISIS violence in the region.
“None of us are concerned by the current situation,” Michael Thomas, leader of the Pathfinder Middle East Trade Mission, told Rudaw. “We are sure that the Kurdistan government is able to overcome all the obstacles – which are pretty serious,” he added.
Millionday: With the Kurdistan region's economy on hiatus, Thomas said there was an opportunity for Kurdistan to consolidate its development and re-evaluate economic strategy. “It's not a bad thing to stop and think and consolidate,” he said. After a prolonged period of growth and development in the region, economic growth contracted five percent in 2014, according to a February World Bank report.
Lack of funds from Baghdad, the cost of the war against ISIS, and supporting over 1.5 million displaced people, have had a negative impact on the economy, with thousands of development projects coming to a halt.
Millionday: NOTE --- THIS WEEK BRITISH TRADE DELEGATIONS VISITED TO BE PART OF BUSINESS OPPORTUNITIES EVEN WITH THE RISK OF ISIS ETC
Millionday: NOTE -- THE REPORTS OF THE INVESTMENT LAW AND ITS CHANGES MUST HAVE DONE IT JOB OF ATTRACTION TO IRAQ AND TRADE/INVESTMENT NEEDS
Millionday: “However, we're looking well beyond this war,” Thomas said. Thomas believes the key to a stable independent Kurdish economy, and eventual state, is developing transportation.
“If you get transport sorted, you get freedom,” Thomas said. “All efficient economies need good transport links.” He said this was particularly true for the landlocked Kurdistan region.
“It's obvious that Kurdistan's location is tremendously important as a trade hub in the region,” he said. “If you got a first-class road and rail route out through Turkey to Europe that could really change everything, including the dynamics of trade.”
Millionday: NOTE -- IT WAS A LONG TIME AGO THAT THE ROAD WAS PLANNED AND I AGREE IT CHANGES A LOT INCLUDING TRADE DYNAMICS
Millionday: The delegation was a UK private sector initiative supported by the Kurdistan Regional Government, which believes that delegations like these play a vital role in strengthening trade and investment relations with the UK.
Nawal Karim, director of Trade and Investment Relations at the KRG UK Representation, said: “Many delegates on these missions have either won contracts from the KRG directly or formed joint-ventures with Kurdistani companies.”
She said the trade missions have “contributed to raising awareness of Kurdistan as a vibrant destination to do business among the private sector, influenced the opening of a British visa center and increasing UK Trade and Investment representatives in Erbil.”
Millionday: NOTE -- OBVIOUSLY THE IMPACT WOULD BE HUGE FOR IRAQ`S TRADE HUBS --PORTS -- PLANS --ETC
Millionday: The current delegation also reached an agreement with the Erbil Chamber of Commerce to stage a business conference in the KRG capital. In 2006, Thomas and his colleague Lord Clement Jones, a managing partner at DLA Piper law firm and a senior member of the House of Lords, led the first trade delegation to Kurdistan since the fall of former Iraqi dictator Saddam Hussein.
“We found in those days a totally different Erbil but we could see of course huge potential for the future,” Thomas said. The delegation originally planned to visit six weeks ago but were forced to reschedule when their Austrian Airlines flight was turned back in mid-air. Thomas said they were undeterred.
Millionday: NOTE -- OBVIOUSLY THEY PLANNED TO HAVE THESE MEETINGS WEEKS AGO
Millionday: “Many businesses wouldn't go back but that says something for the tenacity of the Brits.”
Thomas has worked in the Middle East for 40 years, helping in 1975 to set up a shipping line in Kuwait which later became the Unite Arab Shipping Company.
Today he is executive chairman of Pathfinder Middle East. “There's a genuine friendship between Kurd's and the UK on both sides and for business that's hugely useful,” he said.
Millionday: SO OBVIOUSLY THIS IS GOING TO BE A MAJOR ADVANTAGE ON ALL SIDES -- THE ABILITY TO JOIN IN AGREEMENTS OF INDUSTRY AND MANUFACTURING ---HUGE ABILITY TO GROW QUICKLY IN MANY FIELDS
Millionday: NOTE -- I AM NOT GOING TO BRING THE MULTIPLE REPORTS OF THE ISIS
Millionday: HOWEVER -- THEY ARE RECRUITING HUGE AMOUNTS OF CHILDREN TO CONTINUE FIGHTING -- HMMM --
Millionday: SO THAT SHOWS SUCCESS IMHO
Millionday: NOTE -- THIS REPORT SUMMARIZES WHERE IRAQ IS IN MOST POSITIONS --LAW/POLICY/PROGRAMS/ETC
Millionday: A government team in Iraq and will work on drawing up special policies to address the issues of money laundering, according to the law, which was issued last week by the Council of Ministers.
And it will consist of a team that is likely to be headed by the Minister of Finance or the Governor of the Central Bank, other members of the foreign, interior and defense, trade and intelligence ministries and other institutions concerned with security and money.
Millionday: NOTE -- THIS IS DATED TOMORROW MORN BUT , SHOWS HOW HUGE THE GROUP IS WORKING ON ADDRESSING MONEY LAUNDERING LAWS THROUGH THE PLANNED POLICIES -
Millionday: The team is, according to the Parliamentary Finance Committee to monitor Iraqi funds movement at home and abroad and the imposition of deterrent and preventive measures for money laundering.
It will provide the new law, which is supposed to be prescribed. House of Representatives soon, "sedate" the banking and financial system in Iraq, and limit the financing of terrorism movement in the country through cooperation with interested international cells in this regard.
The first law of its kind in the country after 11 years on the issuance of instructions by the former civil administrator Paul Bremer.
But a number of experts deemed the ruling procedures civil "limited and constrained by the central bank in the money control", noting that the money laundering operations in Iraq, amounting to 5% of gross domestic product.
Millionday: NOTE -- AFTER 11 YEARS--5% IS WHAT MONEY LAUNDERING IS TO THEIR GDP
Millionday: Ebadi said Office, in a press release last week, that "the Council of Ministers approved the draft anti-money laundering law, and the financing of terrorism, "noting that" this project is of great importance for his role in drying the sources of terrorism and to respond to international trends in this area.
"National team to combat money laundering In this context, says the appearance of Mohammed Saleh, Economic Adviser to the Prime Minister, that "the new law will work on the formation of a national team that works with a view to formulating policies,
according to the legislation that will be issued for Parliament, to curb money laundering and issue instructions in this regard, It is a political umbrella, will help him (Operations umbrella) in the implementation of those measures. "
Millionday: NOTE -- CALLED OPERATIONS UMBRELLA---IT IS THE CURBING OF MONEY LAUNDERING AND THE IMPLEMENTATION OF ALL --MEASURES--
Millionday: NOTE --- THIS IS THE LAST PART OF THIS MASSIVE REPORT
Millionday: He noted the benefit that "the new law will enable Iraq to cooperate with the international team that impose certain conditions to work with him, and will enable us to cooperate with the United Nations and World Bank. "
He says economic adviser to the prime minister that "umbrella operations within the national team to eliminate money laundering will provide information in collaboration with the Unit for Combating Money Laundering in the central bank (the point of intelligence for the money) movement, and they will exchange information quickly and to deal more easily than in the past to follow up the money. "
It is estimated the government official money laundering around the world to range between 3 to 5% of GDP and that "Iraq is close to this figure as well." He pointed out that the law will give the guarantee and sedate Iraqi banks and financial situation in the country.
Millionday: SO IRAQ IS IN THE % AMOUNT OF MONEY LAUNDERING WITHIN THE WORLD AND THIS COMMITTEE IS EXPECTED TO WORK TO IMPLEMENT THE NEW PLANS OF MONEY CONTROL
billionaire: I am coming in the middle of the reports but does this last article have anything to do with the black list that Iraq is supposedly on its way to?
Millionday: IRAQ HAS WORKED REPORTEDLY TO REMOVE THAT RISK BY THE REPORTS I HAVE READ -- THEE LAST REPORT IS ABOUT THE GROUP THAT WILL MONITOR THE LAWS AND POLICIES BEING PIT IN PLACE TO AVOID MONET LAUNDERING
daytrader: Iraq has known for a very long time that money laundering is a significant issue. Does it seem strange to you that they're just now addressing it due to outside pressure?
Millionday: THEY HAVE ADDRESSED IT -- HOWEVER IT APPEARS THAT THEY ARE JUST NOW JOINING TOGETHER TO IMPLEMENT THE LAWS ETC
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