Millionday News 9.17.19
[millionday] ok here we go - Exhorted board member of the Baghdad Chamber of Commerce on the need to work hard to create a work environment conducive to activate the joints of the economy, productivity and service , noting that the private sector's role should be to have a pivotal role in economic development , especially as the country lives in the transition towards a market economy.
[millionday] Said Alaa Al-Nouri in an interview ( morning): The private sector is one of the tributaries President of the national economy and promote evidence on year growth for the country's economy ,
pointing to the need for visions of a clear economic support this sector and raise its importance in local economic activity ,
indicating that the contribution of small very in GDP during the last period ranging from ( 1.7 percent - 2.8 percent ) during the period from (2002 - 2008) was due to the weakness of support for this sector.
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millionday] note -- that is obviously to form the investment and business sector
[millionday] Turning Nouri of the importance of the economic reform process in terms of the legislative environment governing the business within the country.
He said: preferably in the formulation of laws specialized work- trade there will be a role for the Baghdad Chamber of Commerce and the Federation of Chambers of Commerce projects in preparation of legislation , laws and resolutions regulating economic activity ,
indicating that most of the economic laws currently before the House of Representatives did not participate Union and the room in the formulation and develop ideas and visions of the commercial sector sector in the development of the environment in accordance with the legislative developments in international economic and trade .
[millionday] note -- meaning that all has to work together toward the same purpose -- economic gain
[millionday] He pointed to the importance reconsider the law of commercial agency No. 51 of 2000 for being one of the important laws governing the process of trade and economic,
which needs to rethink a lot of paragraphs in particular that the country is going through free trade and follow market mechanisms ,
which require direct dealings between the Iraqi trader and trading agents Iraqis on the one hand and between their foreign counterparts on the other hand must be the law of commercial agency in line with the context of the foreign Investment Law No. 13 of 2006 , as amended,
and opens the way for free trade without imposing harsh conditions in unfamiliar business. He Nouri said : that the Iraqi customs campus suffers many of the problems due to lack of infrastructure that regulate the flow of the work in accordance with the international standards ,
so it has to be his administration reform to increase efficiency in the performance of customs through the computerization of customs procedures .
[millionday] so this means that as they move forward they will be taking the kinks out
[millionday] this is great because what they are talking about is the move to free market and what is in place and what will have to be watched
[millionday] He pointed to the importance of issuing bills reform of economic activity such as the Law on the Protection Iraqi products and trade law and freedom of intellectual property , as well as the law of anti-dumping duties and the law of cities and industrial complexes ,
in addition to amend the investment law No. (13) for the year 2006 by adding a special paragraph for the granting of privileges and facilities to support the return of the owners of capital money from the merchants , industrialists and investors who have emigrated ,
especially because they have the capacity to rebuild their businesses in addition to what they have gained from the experience in modernity and technology and inform them of the international economic developments .
[millionday] this is how they will be bring in funds through contracts and the way they have their regulations set for trade
[millionday] He pointed out the negative effects of the policy of dumping commodity that still cast a shadow on the Iraqi market after it harmed the local products to its inability to compete with imported ,
especially after the lifting of all forms of government support for agricultural and industrial sectors and the resulting increase production costs, and hence the need for a special laws to prevent dumping and the protection of national industry ,
pointing to the importance of the organization of border crossings in terms of buildings and personnel and equipment and laboratories as befits the size of the Iraqi economy and activate their role in order to be a safety feature to prevent the entry of shoddy goods and provide a smooth flow of high trade exchange and out of the dire situation faced by these ports.
millionday] this is saying they have a special eye out for the special items they need to move forward with their own products -- they need to make sure they are good advanced products to advance their technology and capabilities
[millionday] wow wow -- this is showing how close they are
[millionday] Nouri called for the development of the free zones of Iraq, which could be as successful as areas ( Safwan , Trebil , Mandali , etc.) as well as the areas of the current three that are created on the basis of new legislative and regulatory and clear goals are consistent with the philosophy of trade liberalization and activating the role of the General Authority for the management of Free Zones to be more efficient to attract investors in those areas,
in addition to the coordination and cooperation between the Ministries of State economic such as the Ministry of Commerce , Industry and Planning and Development Cooperation,
in addition to the Ministry of Finance and the Ministry of Agriculture to support national development and to ensure industrial enterprises and commercial phantom and disposal in addition to the establishment of the Department of Industrial Development and banks Industrial and agricultural support national production .
[ROBINREDHED] how close?
[millionday] close enough to bring in trade and activate the free zones
[millionday] He said Nouri that it requires a process of reform the financial and banking to develop the work of banks in line with global developments in banking performance , which must be consistent with the needs of the stage through which our country where notes the inability of the banking sector on the use of the money supply owned in granting credit facilities and must also involve private banks in foreign trade financing through letters of credit for export .
[millionday] this is saying it is time to activate the trade banks
[ROBINREDHED] well it is time
[millionday] understand this is a press statement to the citizens smile
[millionday] He called at the end of his speech the need to reform the tax system as you see the room that there are large segments of the traders and owners of companies have been damaged as a result the situation is natural suffered by the country where I went Baghdad Chamber of Commerce to call to suspend meet taxes and fees imposed on traders and companies from 5 to 10 years As a result suffered major markets in Baghdad to fires and acts of terrorism have led to cause damage to many merchants , either in their stores or commercial property .
[millionday] woooopow bring on the tax forms and the tariff -- its time for that too
[millionday] love it
[millionday] brb with more
[millionday] here is something that will show you how fast they are moving that is the economic reform moves -- technically
[millionday] meaning by the laws in place and the banking the trade gains the free zones and the great announcement that they are now moving to market economy
[ROBINREDHED] very nice....next
[millionday] here is something that will cause you to drink or eat chocolate
[millionday] Counting economic expert, Dr. appearance of Mohammed Saleh opening of a branch of a government bank outside Iraq of the good things that promote the financial interests and mutual trade.
Iraq had announced receiving approval to open the first branch of the Rasheed Bank in Europe, after the approval came from the Romanian Central Bank. Saleh added in a statement to the (morning) that the opening of branches of state banks abroad, promote and support trade and financial relations between Iraq and the country is opening a branch of the Bank of government in it
[millionday] so we have iraqi banks outside the country give it a heck yea
[wmawhite] millionday .......this is another clue telling us that they are close.
[Fresh] heck yea!
[letsroll] rock n roll
[lorijeanmarshall] but when?
[millionday] this is huge and only for trade with the world or at least with them and of course the road ahead is more to come
[jimplants] Must have moved to article 8
[ROBINREDHED] jimplants looks like it is possible
[hstrymknwmn] jimplants im hoping
[jimplants] YES MA'AM
[wmawhite] millionday ...........they have been telling us that the IQD is becoming more desirable by other central banks. However, this will not work (will never be desirable) unless the IQD enters IMF Article 8. In other words, is recognized/traded internationally.
[SolarKing] I am so tired of close. I want it done done done.
[faith1] letsroll letsroll we are rocks,,, time to roll !!!
[SolarKing] We have been "close" for months.
[millionday] all i want is it done done done -- one of us must have written that song
[The s family] Exactly!
[ROBINREDHED] wmawhite they need to move forward for sure
[SolarKing] millionday lol
[millionday] wmawhite that will be at the same time -- an announcement
[wmawhite] I don't think Iraq is listening to us.....regardless of what Okie says.
[millionday] wmawhite lol
[wmawhite] millionday ........concur
[millionday] brb with more
[SolarKing] wmawhite -I believe you are right.
[ROBINREDHED] ok, do we have more, you know we are junkies
PART 2 CONTINUED