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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

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Established in 2006 as a Community of Reality

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    Costs, agreements, and diversity.. Iraq increases its trade exchange with Iran, and the obstacles ar

    Rocky
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    Costs, agreements, and diversity.. Iraq increases its trade exchange with Iran, and the obstacles ar Empty Costs, agreements, and diversity.. Iraq increases its trade exchange with Iran, and the obstacles ar

    Post by Rocky Tue 28 Nov 2023, 7:00 am

    Costs, agreements, and diversity.. Iraq increases its trade exchange with Iran, and the obstacles are destroying the national currency
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    Baghdad today - Baghdad 
    Professor of Economics at Diyala University, Mehdi Saleh, said today, Tuesday (November 28, 2023), that there are factors that push for an increase in trade exchange between Iraq and Iran, while pointing out that Iraq has no alternative to Iranian and Turkish products.
    Saleh stated in an interview with “Baghdad Today” that “it is the country’s commercial policy to search for multiple sources that secure its market needs, especially with regard to the food basket because it is directly linked to food security,” pointing out that the markets of Tehran and Ankara are the closest to Baghdad, especially since the economic ties. It extends for many decades.”
    He added, "Low costs, the existence of bilateral agreements and facilities, and the diversity of goods and materials to suit Iraqi markets constitute major factors driving an increase in import rates from Tehran, especially with regard to foodstuffs, because the volume of demand for them is high throughout the year."
    Saleh continued, “There is no alternative for Iraq to Iranian and Turkish products in terms of competitive prices, and they constitute an important factor in increasing imports in a country where industry is almost absent from the general scene, ruling out reducing imports from Tehran unless another alternative is available that competes at low costs.”
    He pointed out that "the adoption of national currencies in exchange between Baghdad and neighboring countries is on the table, but its implementation is currently unlikely, because it requires another mechanism, but the emergence of international steps to move away from countries and adopt a basket of other currencies gives hope for important changes in the global scene and may constitute an incentive for changes that will lead to... Adopting other currencies or finding a formula for adopting national currencies.”
    Farzad Belten, Iran's special trade representative in Iraq, announced yesterday, Monday (November 27, 2023), that during the first six months of this year, about $4.5 billion in goods were exported from Iran to Iraq, and about $150 million were imported from Iraq. Goods to Iran from the mentioned country.
    The former Director General of West Asia of the Iranian Trade Development Organization mentioned the trade capacity of the two countries. The ability to increase trade relations between the two countries, including the export of goods, services, electricity and gas, is estimated at about 20 billion dollars.
    According to Belten, Iran's main competitors in Iraqi markets are China and Turkey.
    Belten said that there is a possibility of establishing free trade or preferential tariffs with Iraq, considering that trade between Iran and Iraq is one-way and mainly includes exports from Iran to Iraq. Despite various endeavors over the past years, the Iraqi government does not wish to negotiate and sign Agreement in any of the mentioned areas.
    Accordingly, he added, increasing imports from Iraq and forming a trade balance between the two sides could provide the conditions for signing such agreements in the future.
    Regarding the main obstacles and problems in developing trade with Iraq, Belten stated that given the growing needs of Iraqi markets, as well as the appropriate level of quality and competitiveness of Iranian products in this market, cultural, linguistic and multicultural diversity, ethnic commonalities and geographical proximity between the two countries, the most important obstacles appear to be The problems include a lack of attention to the importance of this market and the lack of long-term and professional planning for Iranian companies for a direct and stable presence in this country’s market.
    The Iranian Special Trade Representative in Iraq said: “Of course there are problems related to trade infrastructure such as one-way transportation of goods, clearance of goods at border ports, standards, etc., and if they are resolved, it will be possible to develop trade relations between the two countries.”
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