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Iraq and the international economic map
Economical 05/22/2024
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Since the current Iraqi government decided to diversify the sources of the national economy by relying on mobilizing agriculture, industry, energy sources, and service businesses, until the development compass in the country took an upward trend after it had been based on the export of crude oil as the main driver of the economy and the structure of government programs, and after the plans and projects proceeded without Delving deeper into the elements of the push towards escalating growth, the forms of which have emerged rapidly in the region, which the Iraqi government paid attention to in a comprehensive view, in multiple directions and unlimited frameworks, and the paths of the map of international trade became clear to it, and images and displays of trade numbers and information between the countries of the world expanded before it, and in what could be of benefit from it for identification. On non-oil foreign trade figures between different economies, in addition to reviewing the graphic lines and various coordinates related to foreign trade.
They depicted the forms of optimism about a comprehensive and broad Iraqi economy that are now being presented clearly, especially after the international arena witnessed a charged atmosphere between the major economic powers in the world to the extent that made some emerging countries enter into drawing the global economic map and a number of questions emerged about the future shape of the international economy and the ranking of countries. In terms of their strength and economic standing, and the societies that are expected to rise economically in the foreseeable future, in light of specialized graphical forecasts, I clearly indicated that the economies of some developing countries, such as Indonesia, Malaysia, and Mexico, may surpass the economies of major countries such as Italy, or even Britain and France, within the next five years. According to the purchasing power parity standard, the size of its economy will be larger than that of those countries, and it will enjoy a remarkable ability to achieve sustainable and continuous growth rates. This view will not be absent from the thoughts of the Iraqi government in all its aspects, especially since Iraq is considered a fertile environment for the implementation of major and gigantic projects.
The most important features of the awareness of those in charge of the development sector in Iraq of these changes emerged through the clear directions of the current government in seeking to advance the reality of the Iraqi economy and expand its frameworks through the intensive approach of inviting many countries and companies to work in Iraq and investing in the Prime Minister’s tours, the most recent of which was participation in the World Economic Forum in Saudi Arabia. With great work and activity to support investment in the country by inviting companies to enter into it with promising development projects, as well as focusing on a large number of decision-makers from companies and countries that will have a clear role in national investment, especially in the fields of energy, agriculture, and information technology, and striving to make Iraq have the greatest opportunities. Investment could reach large numbers that would attract huge capital to be a large market filled with opportunities and in-depth studies that enable Arab and international companies to rehabilitate and modernize factories in Iraq or establish new ones. This in itself makes it a producing center, not a consumer center, and fertile ground for investment opportunities and gradual growth on the economic map. Among other countries and in light of the continuous work of all governmental parties to improve economic development conditions
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