Welcome to Wed RoundTable With Millionday 5/7/14 [millionday] Dear Lord thank you for all of your blessings and those to come -- thank you for all these great friends and this great place to meet -- amen
[millionday] so let me start by saying whats on my mind
[millionday] welcome all that have come in
[millionday] here we go --so lately we have seen so many announcements about the activation of the economic reforms -- that we know
[millionday] until the point that we are wondering when they are going to quit talking and make a move – smile - so lets look at what has been said
[millionday] the IMF has ordered publically that CBI needs to set the rate for the USD - now we know that the USD is the world currency and the comparable happens internationally ----- sdr
[millionday] it is seen on the CBI site at the bottom at this time - the Swift codes have been set and include exchange houses – and accounts have been set up for all of the exchange companies -- both internationally and domestically
[millionday] yesterday -- Turki made an announcement that he was going to move forward with all economic reforms – publically
[millionday] Turki also stated that he was moving forward with or without the budget set and would not send any funds to any province/government without the budget in place
[millionday] yesterday the Department of Commerce stated that they were opening all malls that were in place in 2003 with imports--domestic products –
[millionday] also let me state this as well -- a while back when the Iraqi gov met with the WTO and they gave them a few things that had to be done
[millionday] one thing they had to do was diversify their resources to not be totally reliant on oil so they needed more agriculture and industry so
[millionday] they have included all water and electric and also railways with the statement that they are needed for farmers so this in itself will change %
[millionday] they have also made some adjustments in industry as well –
[millionday] they have hired someone from the UN that is working to get them to an active status quicker than they normally would be able to do so the economy can recover quicker
[millionday] this will include three files and of course one is the economic reforms
[millionday] we are past the elections and now we looking at some other things
[millionday] let me get a report i found today and we will continue on with what i am saying with today`s news – smile - oh and WHOOOPOW
[Baxter1243] What Happened with the BUDGET TODAY>..... their time is UP...
[millionday] they are announcing that they are excited and getting it done -- not done yet
[millionday] here we go -- in order to move towards a market economy and trade liberalization in the country, the opinion of specialists to give up the state in the economy, the role of the merchant and the product, and that the role of catalyst to improving the investment climate and business environment and its personnel security and environmentally , as is the global trend,
by giving way to the private sector in the management of the economic file, in line with what was brought by the Constitution of the role and effectiveness of the sector in the development process.
[millionday] note -- so this goes along with what we saw last night stating that they are activating the economic reforms as the five year plan is also activated
[millionday] comes at a time plans by the Ministry of Commerce to import rebar inside in the construction and reconstruction of origins of global card purchasing is estimated at 300-400 thousand tons annually.
economic expert Ali Fukaiki considered that the import of State for rebar does not offer an advantage for the national economy as compared with steel traders,
on the other hand, the lifting of quantitative restrictions and price and administrative import the private and the abolition of the requirement to obtain a license Prior,
[millionday] that will not leave an advantage to imports ministry over its imports of the private sector, especially the work of the ministry involves costs invisible to the national economy is the opportunity cost which is about the costs that would still avoid the national economy in the case, if not the ministry to import.
[millionday] note -- obviously they have regulations that are to use the national currency and the rate is not a reality rate so the import for steel or any other products for building and roads is not cast effective right now
[millionday] added Fukaiki in Speaking «morning» that the import of the government away from the concepts and rules of the market economy, especially as they are enjoying the benefits, including the exemption of imports government of customs duty and his belongings,
the exemption from the requirement to obtain the import license prior, as well as exemption from income tax, as well as warehouses for storing imported goods to the ministry concerned does not meet the wages of storage for those goods.
[millionday] note -- obviously they are saying that it is not a possiblity without the reforms and also with the cost etc
[millionday] among sees economic expert, Dr. Majid picture that in the current transitional phase is possible that the State exercises its work in some of the trade issues, either services (non-infrastructure), it is possible to turn them into the private sector,
where proved its role in meeting the basic needs of the Iraqi society, stressing the censorship by the government on some business by monitoring the main source of the commodity and even received by the consumer is also located within the responsibility of consumer protection associations.
[millionday] between Suri »Sabah» in general that is not selected the identity of Iraq, economic, Is a centralized totalitarian or market economy, as it is in Germany or America or China and other countries in general,
stressing the importance of the private sector in the field of industry, agriculture, tourism and services, as it is an engine actor of the Iraqi economy, as the Constitution provides for the importance and the role of this sector in the economic development process.
[millionday] note -- as we know the heart of any country is the private sector -- the people in other words –
[millionday] note -- look how they are comparing what is coming in their economic reform to our country and others in the hopes of deciding what type of economy they intend --- but as we have seen -- market economy is what they have said
[millionday] now look at this>>>> either the most prominent proposals and solutions that are in favor of the shift towards a market economy urged the expert to set up a bank new development will not be built on the specialized banks are currently strewn procedures and routines,
and that is capital so great that he does the productive sector and the service is fully Whether public or private to compensate for a large proportion of imports and stimulate the Iraqi economy and revitalize the securities through the establishment of joint-stock companies
[millionday] note -- this is the establishment of the development bank and its role of course so we are so close
[millionday] , as in the experience of Germany after World War II, they returned it with a very successful experience through his work (the bank) in a manner governance and high professional, to be able to separate political struggles for basic tasks at hand, a process of economic development.
[millionday] so what we have here is the bank of development that is to move the economy to a market economy and activate the global investment side of things for contracts etc -- smile
[millionday] end of report
[Danalivin4HIM] how long will it take to start a development bank?
[millionday] Danalivin4HIM it exists already -- building and all
[clay] is there a deadline 4 this millionday is it a 10 day deadline
[millionday] what we do have is the order to set the USD/IQD by the IMF -- that is great
[millionday] we also have a huge conference with the IMF on economic develoment in the middle east on the 11th and 12th of may -- this is very encourgaing to say the least -- smile
[millionday] let me get us some more news
[clay] do they have a 10 day deadline w/IMF orders
[millionday] clay that was given before but i didnt see it in ink with this one just a right away
[sczin11] clay the "10 day rumor" i believe you are referring to is the length of time a country can have a rate change without publicly showing it.............
[millionday] sczin11 true as well --- they seem to have assumed it is for all orders from one a while back
[millionday] here we go
[millionday] President of Kurdistan region , Massoud Barzani, back to the city of Arbil, returning from the Hashemite Kingdom of Jordan. The presidency of the province said in a statement today that " Barzani arrived and his entourage to Arbil International Airport ,
at the end of an official visit to the Hashemite Kingdom of Jordan lasted three days , where he met with King Abdullah II of Jordan , and held a series of meetings with senior officials there.
[millionday] the reason the meeting in Jordan was great is of course how much Jordan has to do with Iraqi development
[millionday] here we go -- Member of the parliamentary legal Committee for the State of law Coalition Hassan Al-yasiri, the election was one of the factors that led to the adoption of the draft general budget.
Al-yasseri said in a press release: it is binding on the blocks accelerate adoption of the budget Parliament concludes an important achievement so expect people and all State institutions.
Confirmed: the responsibility lies with the House especially the Council Presidency that we call the faithful need to specify session as soon as possible to enable the Council to approve the budget.
[millionday] so this seems as though it does not even match some of the reports that they are meeting now --- many reports go against each other and i will say -- i believe they are meeting now on this -- budget so we shall see
[Smokey Mtn. Dinar] Have they already had 2 readings on the budget? So now all they need is the vote?
[millionday] yes they seem to just be voting it through by reports
[sczin11] millionday saw 5 diff articles this morning on budget, no 2 were the same info, 1 was actually talking about 2015 budget............... hmmmmmmmmmmmmmmm....
[Smokey Mtn. Dinar] Smoke and Mirrors?
[sczin11] leeds me to believe 2014 budget is DONE
[millionday] it would make sense but you know i am the ink girl -- so smile
[millionday] here we go -- more proof on what direction we are going -- or i mean Iraq is going
[millionday] marketing one of the main pillars of support for the production process across industries and services that provide all the productive sectors, which leads the task of activating the cycle of capital through the spread of goods and commodities over a wide area of cities or countries.
specialist in economic affairs Saad al-Tai said: Marketing episodes of the task in the promotion of the production and continuity, which made major international companies promote the Departments of marketing through the selection of talent capable of building bridges of cooperation with the largest number of markets in the targeted areas, is also working on the preparation of studies, the most important cities that should be displayed where the goods.
[millionday] note -- the marketing of the New Iraq
[millionday] taste Consumer -Tai added during his speech at an economic seminar attended by «morning« saying: marketing play an important role in the productive sectors in general, it is the final stage in a series of stages to reach the consumer which is the purpose of all the steps and stages of the production process for various goods and services.
And that the aim of the production or provision of services is in the search for the consumer and how to adopt a particular product, whether goods or services to suit the taste of the consumer and achieve profitability. pointed to the importance of the availability of marketing success factors in order to play the role required of him to the fullest.
[millionday] note -- marketing is the move tat will bring the Iraqi product to the globe -- saying here that the only way to get it out there is to market their products etc
[millionday] Which requires from the concerned authority to adopt strategic marketing based on scientific study and field for markets and consumers that a non-access to them and would prefer to include strategic marketing all the elements and the factors that guarantee into account the existence of success for this strategy.
traffic markets, and pointed out that successful marketing must take into account the opportunities and potential of the organization productivity to reach consumers and to know their wishes and preferences of the consumer goods and services offered by the organization or organizations or other service productivity.
[millionday] note --- if they are beginning the marketing of the products -- you can bet they are planning on distribution of thier products
[millionday] As well as taking into account the movement of commercial markets and see indices up or down, and taking into account the distribution of goods produced so that the movement of distribution and operations associated according to the system nicely and in accordance with the steps calculated so that can not happen any confusion in this important process during the delivery of goods from places of production to ports consumption.
[millionday] communicating with the public and said The strategic marketing provides an promotion if it has the success factors and the promotion includes efforts and activities assigned to members specialize in communicating with the public in order to familiarize them with the benefits and positives of the goods-producing and strengthen the Organization's relations with its public and find a solid floors for communication among the parties to the process.
[millionday] so as we see -- Iraq is coming to the globe and making all the moves and announcements we would expect -- great to see everyone