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Value of commercial business deals will be enhanced by local currency in Iraq
Iraq, July 23, 2014
The financial expert Ali Fukaiki emphasized on importance of adopting measures of trading with local currencies across the borders for its role in facilitating the smooth flow of international goods through countries that adopt this process.
He added 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 country trade during the current situation for the need to supply domestic markets of goods to cover the growing domestic demand.
He also mentioned that the presence of several international agreements adopted commercially in the world like the agreement between the governments of Turkey and Iran, as well as between Malaysia and its neighbors using local currencies in trading.
In China there are many foreign projects, particularly the Japanese use the Chinese currency (Yuan), to settle urgent payment obligations which are less susceptible to the vagaries of the process in foreign currency exchange rates and to avoid the margins of the difference required by dollar conversion process.
Al Fukaiki explained that what happened to trade actively across the border in (Klar District) and (Haj Omran) in Northern Kurdistan and is happening now in Mehran and Shalamcheh in the south are vivid examples of this trade, which resulted in the accumulation of Iraqi cash reserves, significantly with the bankers and traders (Iranians, Syrians, Turks and others) has promoted the acceptance and confidence in Iraqi Dinar for these traders over the past five years, such confidence did not happen before that over the past half a century earlier.
(iraqdirectory)
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Iraq, July 23, 2014
The financial expert Ali Fukaiki emphasized on importance of adopting measures of trading with local currencies across the borders for its role in facilitating the smooth flow of international goods through countries that adopt this process.
He added 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 country trade during the current situation for the need to supply domestic markets of goods to cover the growing domestic demand.
He also mentioned that the presence of several international agreements adopted commercially in the world like the agreement between the governments of Turkey and Iran, as well as between Malaysia and its neighbors using local currencies in trading.
In China there are many foreign projects, particularly the Japanese use the Chinese currency (Yuan), to settle urgent payment obligations which are less susceptible to the vagaries of the process in foreign currency exchange rates and to avoid the margins of the difference required by dollar conversion process.
Al Fukaiki explained that what happened to trade actively across the border in (Klar District) and (Haj Omran) in Northern Kurdistan and is happening now in Mehran and Shalamcheh in the south are vivid examples of this trade, which resulted in the accumulation of Iraqi cash reserves, significantly with the bankers and traders (Iranians, Syrians, Turks and others) has promoted the acceptance and confidence in Iraqi Dinar for these traders over the past five years, such confidence did not happen before that over the past half a century earlier.
(iraqdirectory)
[You must be registered and logged in to see this link.]
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