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Two experts call for activating local product protection
Economic 2024/10/07
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Two economic experts see the necessity of activating the local product protection law and reviving the phrase “Made in Iraq” once again within the local market, pointing out that local products have not yet been able to compete with imported products in terms of quality and type, as well as price.
The Council of Representatives enacted a package of economic laws in (2010), which were represented by the Iraqi Products Protection Law, the Competition and Anti-Monopoly Law, the Consumer Protection Law, and the Customs Tariff Law. In (2021), the slogan “Made in Iraq” was launched, with the aim of encouraging local industries and reviving them to compete with imported goods that flooded the Iraqi market after (2003).
Economic expert Dr. Abdul Karim Al-Issawi said in an interview with Al-Sabah: The private sector has limited its interest to importing to meet the main consumption needs from various sources, some of which are poor and perishable, indicating that many import operations were characterized by randomness and flooded the local market with cheap, poor goods that the national product cannot compete with. To address this situation, Al-Issawi stressed the importance of introducing advanced technology in the manufacturing and agricultural industries to meet the growing local demand, indicating that the Ministries of Industry, Planning, Trade and Agriculture must develop realistic plans to address the imbalance. He pointed out that Iraq is rich in natural and human resources, but it needs to put plans and laws into effect, explaining that the package of economic laws issued in 2010 will make the slogan “Made in Iraq” a reality.
In turn, expert and academic Dr. Amr Hisham pointed out to Al-Sabah that absolute support for the local product and imposing major restrictions on imports will lead to poor quality goods and high prices, and deprive the citizen of his freedom to choose and compare between goods.
Hisham called for building a "customs wall" against foreign goods and giving a share of the Iraqi market to foreign producers, noting that such an approach requires controlling imports according to our relationship with neighboring countries and other countries and the degree of economic partnership with them. He added that in parallel, we must build a national industry, advanced local agriculture, and a class of Iraqi industrial and agricultural businessmen, and establish a cooperative link between them and regional and international companies.
Hisham believed that the funding and support provided to the local product should be for a specific period and not absolute, pointing out that the support and funding have produced successful experiences represented in many projects, including the support provided to cattle and buffalo breeders, the purpose of which is to establish a local industry to provide meat and not import it from abroad, or to support the iron and steel industry and other types of support that guarantee a local industry that dispenses with imports and secures a diversified economy that emerges from the single rentier economy.
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