Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


Adopting local currencies in trade relations

rocky
rocky
NNP TEAM
NNP TEAM

Posts : 189731
Join date : 2012-12-21

Adopting local currencies in trade relations Empty Adopting local currencies in trade relations

Post by rocky on Wed 06 Jan 2021, 4:24 pm

Adopting local currencies in trade relations


Tuesday 05 January 2021
 109

Adopting local currencies in trade relations 
 
Baghdad: Al-Sabah 
A member of the Federation of Businessmen Ahmed Masal asked to go to adopt local currencies in foreign trade transactions. 
"The completion of trade with regional countries and beyond is important and facilitates the smoothness of trade performance and is supported by many countries in the world," he said.
 
Transit trade
"There are international agreements regulating this type of cross-border trade because of the benefits it brings to various economies of the world, and from countries that adopt this type of trade, Malaysia has with its neighbours and other countries," he said.
China relies on many foreign projects, primarily Japanese, using the local Chinese currency (yuan) as a means of settling urgent payments and obligations, which are less vulnerable to fluctuations in the process in foreign exchange rates and avoid the margins of difference required by the dollar transfer process.
 
Economic blocs
He stressed that the volume of trade with neighboring countries and global economic blocs is very large, and needs greater regulation of the cross-border trade process, as Iraq needs many products to cover domestic demand, which necessitates going to international markets to cover the requirements of its domestic market. 

[You must be registered and logged in to see this link.]

    Current date/time is Wed 20 Jan 2021, 4:59 pm