Commercial Agencies Law tightens noose on foreign companies

Commercial Agencies Law tightens noose on foreign companies





Created on Friday, 19 April / May 2013 08:38 | |


BAGHDAD / Nasir Ali

Advisers to the Iraqi government failed again in amend economic Old Law, was supposed to enhance the facilities provided to Arab and foreign companies wishing to enter the Iraqi market.

He MP Kazem Sayadi, that "many specialized participated in the amendment of the law regulating commercial agencies for the year 2000, such as the adviser to the Council of Ministers and the Secretariat and the Ministries of Finance, Planning and Trade and the Shura Council." He explained that the goal was "cancellation clauses cope with economic and trade developments and add paragraphs serve the stated objective." He announced that what happened was "Iraqi Council of Representatives received the new draft law بعراقيل would object ridden desire Arab and foreign companies to enter the Iraqi market."

Law regulates commercial agencies "acts of commercial agency exercised by proxy in Iraq for the benefit of a natural or legal person from outside Iraq, and the state departments dealing with all sectors and associations with natural and legal persons of Arab and foreign."

And cons of the new law, Sayadi noted, that "legislators missed their thinking abolition of the Iraqi constitution, the socialist system, while the amendment included passages constantly gives the impression of the socialist system, with our recognition of the failure to achieve the transformation." He said that the Iraqi economy "is still not clearly defined, there is a socialist nor capitalist it does not apply to any economic theory."

It was announced that the number of domestic and foreign companies registered with the Ministry of Commerce until the end of last year, "exceeded 62 thousand, including the 1976 Arab companies and foreign countries, even if we compare the rates of increase during the years, ten years after the events of 2003, we find that the number did not يتخط 23 alpha prior to this date . "

The law stipulated that in granting leave to commercial agent, to be an Iraqi and resident in Iraq, while most countries resorted including Arabic, to overcome this condition, and asked, "What's wrong if the proxy Arab nationality and even a foreigner?".

The economist stressed Arslan Salim Abbasi, that the economic laws that began after 2003, and even amendments to old laws, "failed to keep pace with economic developments in Iraq, lawmakers resorted request of the ministries and departments concerned, to the introduction of amendments to the laws."

He pointed out that the Commercial Agencies Law "is among the most important laws to attract Arab and foreign companies, it can be called a" sensor "which resorted to by companies before risk بأموالها in the new market." And saw the need to "deal intelligently legislator can also have a sophisticated use of the laws in force in the Gulf states, Egypt and Jordan.

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