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[size=35][size=35]After Iraq's intention to finance trade with Turkey with dinars... how much is the trade exchange between the two countries?[/size]
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2023-12-26 | 04:26
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Al-Sumaria News - Economy
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Prime Minister Muhammad Shiaa Al-Sudani directed the formation of an Iraqi-Turkish committee to organize trade and strategic partnership between the two countries, and to support Iraqi merchants’ imports in dinars, according to a government source who spoke to Al-Sumaria News.
It is planned that the committee will represent market forces and Iraqi and Turkish economic organizations, and will include the [url=https://www.alsumaria.tv/Entity/4095463395/%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9 %D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81 %D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Association of Iraqi Private Banks[/url], the Iraqi-Turkish Business Council, the [url=https://www.alsumaria.tv/Entity/3500999492/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF %D8%A7%D9%84%D8%BA%D8%B1%D9%81 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Federation of Iraqi Chambers[/url] of Commerce, and the [url=https://www.alsumaria.tv/Entity/3670438452/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF %D8%A7%D9%84%D9%85%D9%82%D8%A7%D9%88%D9%84%D9%8A%D9%86 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D9%8A%D9%86/ar/]Iraqi Contractors Union[/url].
The Iraqi Prime Minister also decided to open a direct dialogue on the issue of the “equal deal,” through direct negotiation with the [url=https://www.alsumaria.tv/Entity/2795008006/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF %D8%A7%D9%84%D9%85%D8%B5%D8%AF%D8%B1%D9%8A%D9%86 %D8%A7%D9%84%D8%A3%D8%AA%D8%B1%D8%A7%D9%83/ar/]Turkish Exporters Union[/url] and the Central Bank of [You must be registered and logged in to see this link.], in coordination with the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url], due to “the presence of a high desire on the part of the Turkish party to pay in the local currency,” according to To the same source.
*An important trading partner
[You must be registered and logged in to see this link.] is considered one of the most prominent trading partners with [You must be registered and logged in to see this link.]. According to the [url=https://www.alsumaria.tv/Entity/34824404/%D9%87%D9%8A%D8%A6%D8%A9 %D8%A7%D9%84%D8%A5%D8%AD%D8%B5%D8%A7%D8%A1 %D8%A7%D9%84%D8%AA%D8%B1%D9%83%D9%8A%D8%A9/ar/]Turkish Statistics Authority[/url], the volume of trade exchange between the two countries reached $15.2 billion last year, compared to $12.8 billion in 2021. Turkish exports to Baghdad increased during the same period by about 23.6 billion dollars. %, to record $13.8 billion.
The Iraqi move comes as one of several steps the government has taken to combat fluctuations in the exchange rate in the parallel market, especially after the United States blacklisted 14 Iraqi banks and prevented them from conducting transactions in the green currency, on suspicion of using them for money laundering and transferring money to Iran and Syria. The price of the dinar in the parallel market on Sunday increased to more than 1,500, while the official price reached 1,320 dinars to the dollar.
*Other agreements
During the past few months, the government resorted to signing trade and investment agreements with many countries, especially the Gulf countries. This December, the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] signed an agreement with the [url=https://www.alsumaria.tv/Entity/2343256815/%D8%A8%D9%86%D9%83 %D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A %D8%A7%D9%84%D8%A3%D9%88%D9%84/ar/]First Abu Dhabi Bank[/url] to finance trade and imports between [You must be registered and logged in to see this link.] and the UAE in the dirham currency, according to the official [url=https://www.alsumaria.tv/Entity/208503554/%D9%88%D9%83%D8%A7%D9%84%D8%A9 %D8%A7%D9%84%D8%A3%D9%86%D8%A8%D8%A7%D8%A1 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Iraqi News Agency[/url].
In the same month, Saudi Arabia and [You must be registered and logged in to see this link.] signed a partnership agreement in the field of private sector industrial investments.
Saudi Ambassador [url=https://www.alsumaria.tv/Entity/3760768728/%D8%B9%D8%A8%D8%AF %D8%A7%D9%84%D8%B9%D8%B2%D9%8A%D8%B2 %D8%A7%D9%84%D8%B4%D9%85%D8%B1%D9%8A/ar/]Abdulaziz Al-Shammari[/url] said at the time that the agreement that was signed was considered a “first opportunity,” adding that “there are many opportunities that are being studied, and good news will be for the Iraqi people during the next few months.”
These agreements come weeks after [url=https://www.alsumaria.tv/Entity/2181450405/%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A/ar/]Saudi Investment[/url] Minister [url=https://www.alsumaria.tv/Entity/2674653511/%D8%AE%D8%A7%D9%84%D8%AF %D8%A7%D9%84%D9%81%D8%A7%D9%84%D8%AD/ar/]Khalid Al-Falih[/url] announced that the Kingdom is considering inaugurating the first free economic zone with [You must be registered and logged in to see this link.], in the border region of Arar, expressing his hopes that the region will be the first free economic zone with a neighboring country without taxes, fees, or entry visas to serve investors. In both countries.
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Economy
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2023-12-26 | 04:26
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Al-Sumaria News - Economy
Iraq plans to increase reliance on the local currency in trade exchanges with Turkey, in an attempt to combat the dollar crisis and the difference in exchange rates between the official price and the parallel market.
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Prime Minister Muhammad Shiaa Al-Sudani directed the formation of an Iraqi-Turkish committee to organize trade and strategic partnership between the two countries, and to support Iraqi merchants’ imports in dinars, according to a government source who spoke to Al-Sumaria News.
It is planned that the committee will represent market forces and Iraqi and Turkish economic organizations, and will include the [url=https://www.alsumaria.tv/Entity/4095463395/%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9 %D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81 %D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Association of Iraqi Private Banks[/url], the Iraqi-Turkish Business Council, the [url=https://www.alsumaria.tv/Entity/3500999492/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF %D8%A7%D9%84%D8%BA%D8%B1%D9%81 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Federation of Iraqi Chambers[/url] of Commerce, and the [url=https://www.alsumaria.tv/Entity/3670438452/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF %D8%A7%D9%84%D9%85%D9%82%D8%A7%D9%88%D9%84%D9%8A%D9%86 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D9%8A%D9%86/ar/]Iraqi Contractors Union[/url].
The Iraqi Prime Minister also decided to open a direct dialogue on the issue of the “equal deal,” through direct negotiation with the [url=https://www.alsumaria.tv/Entity/2795008006/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF %D8%A7%D9%84%D9%85%D8%B5%D8%AF%D8%B1%D9%8A%D9%86 %D8%A7%D9%84%D8%A3%D8%AA%D8%B1%D8%A7%D9%83/ar/]Turkish Exporters Union[/url] and the Central Bank of [You must be registered and logged in to see this link.], in coordination with the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url], due to “the presence of a high desire on the part of the Turkish party to pay in the local currency,” according to To the same source.
*An important trading partner
[You must be registered and logged in to see this link.] is considered one of the most prominent trading partners with [You must be registered and logged in to see this link.]. According to the [url=https://www.alsumaria.tv/Entity/34824404/%D9%87%D9%8A%D8%A6%D8%A9 %D8%A7%D9%84%D8%A5%D8%AD%D8%B5%D8%A7%D8%A1 %D8%A7%D9%84%D8%AA%D8%B1%D9%83%D9%8A%D8%A9/ar/]Turkish Statistics Authority[/url], the volume of trade exchange between the two countries reached $15.2 billion last year, compared to $12.8 billion in 2021. Turkish exports to Baghdad increased during the same period by about 23.6 billion dollars. %, to record $13.8 billion.
The Iraqi move comes as one of several steps the government has taken to combat fluctuations in the exchange rate in the parallel market, especially after the United States blacklisted 14 Iraqi banks and prevented them from conducting transactions in the green currency, on suspicion of using them for money laundering and transferring money to Iran and Syria. The price of the dinar in the parallel market on Sunday increased to more than 1,500, while the official price reached 1,320 dinars to the dollar.
*Other agreements
During the past few months, the government resorted to signing trade and investment agreements with many countries, especially the Gulf countries. This December, the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] signed an agreement with the [url=https://www.alsumaria.tv/Entity/2343256815/%D8%A8%D9%86%D9%83 %D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A %D8%A7%D9%84%D8%A3%D9%88%D9%84/ar/]First Abu Dhabi Bank[/url] to finance trade and imports between [You must be registered and logged in to see this link.] and the UAE in the dirham currency, according to the official [url=https://www.alsumaria.tv/Entity/208503554/%D9%88%D9%83%D8%A7%D9%84%D8%A9 %D8%A7%D9%84%D8%A3%D9%86%D8%A8%D8%A7%D8%A1 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Iraqi News Agency[/url].
In the same month, Saudi Arabia and [You must be registered and logged in to see this link.] signed a partnership agreement in the field of private sector industrial investments.
Saudi Ambassador [url=https://www.alsumaria.tv/Entity/3760768728/%D8%B9%D8%A8%D8%AF %D8%A7%D9%84%D8%B9%D8%B2%D9%8A%D8%B2 %D8%A7%D9%84%D8%B4%D9%85%D8%B1%D9%8A/ar/]Abdulaziz Al-Shammari[/url] said at the time that the agreement that was signed was considered a “first opportunity,” adding that “there are many opportunities that are being studied, and good news will be for the Iraqi people during the next few months.”
These agreements come weeks after [url=https://www.alsumaria.tv/Entity/2181450405/%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A/ar/]Saudi Investment[/url] Minister [url=https://www.alsumaria.tv/Entity/2674653511/%D8%AE%D8%A7%D9%84%D8%AF %D8%A7%D9%84%D9%81%D8%A7%D9%84%D8%AD/ar/]Khalid Al-Falih[/url] announced that the Kingdom is considering inaugurating the first free economic zone with [You must be registered and logged in to see this link.], in the border region of Arar, expressing his hopes that the region will be the first free economic zone with a neighboring country without taxes, fees, or entry visas to serve investors. In both countries.
[You must be registered and logged in to see this link.]
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