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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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    An Iranian official details the problems facing Iranian merchants in Iraq

    Rocky
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    An Iranian official details the problems facing Iranian merchants in Iraq Empty An Iranian official details the problems facing Iranian merchants in Iraq

    Post by Rocky Wed 27 Dec 2023, 6:45 am

    [size=35][size=35]An Iranian official details the problems facing Iranian merchants in Iraq[/size]
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    Economy

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    2023-12-27 | 05:20
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    Alsumaria News - Economy

    The Secretary-General of the Iranian-Iraqi Joint Chamber, Jahanbakhsh Sanjabi, confirmed that in order to maintain trade exchange with Iraq, a solution must be considered to abolish the double rate (free and official) of exchange in exchange with this country, while stating that the problem of the necessity of Merchants' use of free market currency in trade with Iran.


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    Sanjabi said on the sides of the meeting of the Iranian-Iraqi Cooperation Policy Council, “It is true that the pace of Iranian exports to Iraq is accelerating day after day. The Iraqis have no alternative to goods imported from Iran, but unless we solve some challenges, we will inevitably lose the export market,” he said. ISNA News Agency.



    He added: “A budget has been approved[You must be registered and logged in to see this link.]The annual budget for 2023 is worth $150 billion, which has grown by 65% ​​in the construction projects sector, and it is said that almost the same budget will be considered for Iraq until 2025. The income exceeds[You must be registered and logged in to see this link.]Oil revenues reach $11 billion in some months, so all of these matters and the relatively progressive Iraqi investment law provide good opportunities for business and joint investment.” The

    Secretary-General of the Iranian-Iraqi Joint Chamber stated that Iranian technical and engineering services exports during the years 2012 to 2015 witnessed good growth, and said: If We used the experiences of that period and also updated some of our procedures in the field of trade with[You must be registered and logged in to see this link.]We can transfer part of the construction budgets into...[You must be registered and logged in to see this link.]To job opportunities for Iranian companies.

    And about the challenges of trade exchange between...[You must be registered and logged in to see this link.]And[You must be registered and logged in to see this link.]Sanjabi Shirazi explained: Under the US Federal Reserve policies approved last year, Iraqi businessmen cannot use the official currency in trade with...[You must be registered and logged in to see this link.]Russia and Syria. Meaning that Iraqis cannot use the currency obtained from oil exports to trade with[You must be registered and logged in to see this link.]Rather, they must use the free market currency, knowing that the differences between the two currencies (free and official) sometimes range between 8 and 20 percent.

    He continued:[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]Determine the distribution of the currency as of 2022, so that the daily distribution of the currency suddenly drops from $200 million to $48 million.

    According to this official, he agreed[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], to use the country’s currency (the dinar) in small and large local transactions starting from January 2024, and to prevent the use of other currencies, which creates many challenges for Iranian businessmen and merchants in[You must be registered and logged in to see this link.].

    In conclusion, he said: We must take advantage of the opportunities arising from the increase in oil revenues and the growth of the Iraqi budget in order to prepare the ground for exports of technical and engineering services.
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