Tariff creates a local industrial base

by lonelyintexas Fri 05 Dec 2014, 7:49 pm

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Post n°1

Tariff creates a local industrial base

by lonelyintexas Fri 05 Dec 2014, 7:49 pm

6/12/2014 0:00

Tariff creates a local industrial base

BAGHDAD - the joy of pumice

in order to boost the economy, investment and development forward for the service in the public interest, the Committee on Economic Affairs of the Council of Ministers has taken many important decisions to address the challenges of the advancement of the reality service and economic Moatunain.oakdt Committee its sixth meeting, chaired by Deputy Prime Minister Dr. example, has typically Nuri Shaways, in the presence of finance ministers, oil, planning, commerce, and agriculture, as well as Chairman of the National Investment Commission, and advisers of the prime minister, where the Commission has decided to cover all imported goods and materials Product those of the Iraqi public and mixed and private companies Tariff No. 22 for the year 2010 Law , for the Iraqi product protection and support of the national industry.

The Council of Ministers may end of last year decided to apply tariffs on luxury materials tariff system with effect from 2.1.2014, gradually to protect national production and supporting the private sector.

expert economic Dr. peace Sumaisem considered this decision is positive and helps Iraqi products to compete with foreign products.

As indicated, the "morning" that the Iraqi products is limited, as well as the Iraqi producers complain of the lack of competition, so this resolution will contribute to the reduction of the structural distortion in the national economy and providing material base of industrial services.

She explained that the inclusion of imported goods and products tariff would lead to increased prices in the domestic market is what gives the opportunity for local product to emerge on the market square, where the consumer preferred product cheaper, he Colha.oaqr House of Representatives second session Tariff Act of 2010, and was the most prominent justifications issued put tariffs in line with the reform of the Iraqi economy, where Iraq was applied decision CPA after 2003 would impose a fee of 5 percent on all Moad.kma promised Sumaisem this decision a "golden opportunity" to make available state to activate the role of the Iraqi industry and to achieve profits for both sides (of the country and factory), encourages Iraqi Industrialists to enter the production field and compete with that Alajunba.wakdt that this approach appropriate for the time being, especially with the passage of the country crisis drop in oil prices, the state tries to reduce the rentier economy and reduce dependence on foreign imports, so plans to urge sectors productivity to reconsider their policies productivity and contribute to the activation of the economy Albuld.kzlk Committee directed that the import and export instructions be highly flexible away from the red tape that hinders this process in order to serve the Iraqi economic reality, as the expert said in this regard: "The Iraq plans to join the organization global trade and this joining is required country to deal flexibly with the external economy ", calling at the same time to create a balance and activate production bases in the Iraqi economy while keeping an openness to the world in freedom of import and export.

In addition to these directives, the tariff law takes into account the provisions of facilities granted under the Investment Law No. 13 of 2006, as amended on imported goods exclusively for the purposes of investment projects, so come in order to attract the maximum amount of investment companies and businessmen to work in Iraq.

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