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January 26, 2023[You must be registered and logged in to see this link.]
Baghdad / Obelisk: The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, put forward, on Thursday, two proposals to ensure the stability of the national market.
Saleh said in a statement, followed by Al-Masalla, that the proceeds of small trades constitute about 70% of the total import units to the Iraqi market, as they deal with highly diversified specialized trade clauses, and these trades previously directed their requests through parallel financing tasks undertaken by exchange companies and mediated by a large trader.
He added: Therefore, the adaptation of small trade and its direct entry into the world of foreign trade at once is an issue that needs time to adapt to the use of new financing mechanisms based on the opening (facilitation) of documentary credits, which requires only the submission of minimal documents, including freezing the import license. And to be satisfied with the identity of the Chamber of Commerce as a natural person instead of a commercial company as a legal person, which are requirements that were previously imposed, in addition to the customs and tax collection facilities.
Saleh added that despite this, it is inevitable for the state to enter as a large trader at the present time to help balance the market with the goods supplied at the official exchange rate of 1450 dinars per dollar, in addition to allowing cooperatives of all kinds to enter the import trade as an additional pattern that helps the stability of the national market in general and the exchange market in particular. particular.
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