Adoption of the local currency in commercial transactions boosted worth

Adoption of the local currency in commercial transactions boosted worth

7/21/2014 0:00

BAGHDAD - Hussein al-Tamimi Tgb

Said financial expert Ali Fukaiki importance of adopting measures trade in local currencies across the border for its role in facilitating the smooth flow of traffic of goods and goods across international countries that adopt this process.

He added in an interview with "morning" that cross-border trade in local currencies in vogue among the countries of the world, pointing to the importance of activating the measures adopted in the present time in the trade of the country during the current situation you need to supply the domestic market of goods cover the growing domestic demand.

He pointed to the presence of several international agreements to be adopted commercially in the world like her and what was approved by the agreement between the governments of Turkey and Iran from trade in local currency for the two countries, as well as between Malaysia and its neighbors using local.

He said in China rely many foreign projects, particularly the Japanese use the Chinese currency, the local of the (yuan) and a way to settle the payment obligations urgent and those adjustments less susceptible to the vagaries of the process in foreign currency exchange rates and to avoid the margins of the difference required by the conversion process through the dollar.

The Fukaiki has between in an earlier statement that what happened to trade actively across the border in (spend Klar) and (Haj Omran) in the Kurdish north and is happening now in the Mehran and Shalamcheh south vivid example of this trade, which resulted in the accumulation of reserves, cash Iraqi significantly with the bankers and traders Iranians, Syrians and Turks and others promoted the acceptance of these Iraqi dinar confidence in him over the past five years, which did not happen to him such confidence before that over the past half a century earlier.

To this end, a specialist in economic affairs Hadi Hndas that the adoption of the local currency in international trade enhances confidence in Iraqi dinars, especially that most of the country's trade organized with neighboring countries, and that they accept the deal in the local currency of Iraq, and in this aspect many positives, mainly to facilitate the supply of materials to the country, where to obtain hard currency subject to a time through the organization requests go through a series of references and this delay deliveries of materials.

He pointed out during his speech for the "morning" that this trend will strengthen the position of local trade internationally, after the currency gained international acceptance process, citing that it supported by substantial financial reserves have added weight after the new stages ravaged by inflation.

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