Economic Comittee Member: The existence of a tariff law would help revive economy in Iraq

Posted: August 6, 2013 in Iraqi Dinar/Politics
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A member of the parliamentary economy: can not revive the economy, but the existence of the law of customs tariff
Tuesday, August 06 / August 2013 12:06

Saw a member of the parliamentary economic committee Nahida Daini that “the country’s economy can not be revived, but the existence of the customs tariff law.”

The House voted last July 22 of the second amendment to the customs tariff law No. 22 of 2010 as amended and the government had announced its approval on June 26 of last year on a bill to postpone the application of the law of customs tariff.

She Daini told all of Iraq [where] today that “the investment climate negatively affected Bentiu existence of political chaos, security and economic, as well as the absence of ester Atejah important economic and installment Alastmari real, pointing out that we are trying to find environmental real investment by laws that contribute to the recovery of this sector or limit the overlap of powers in these laws. ”

She added that “reviving the economic sector can not be done except in the case of a law of customs tariff, which adjusts all regions of Iraq, including the Kurdistan region, but this is difficult at the present time, as well as support the Iraqi economy through the establishment of industries Iraq and support the Iraqi industry strongly reducing power outages and the electrical energy support noting that he “can not go any sector without the presence of strong electric capacity.

She Daini that “the private sector is very important and the state strongly supported in the case not to rely on the private sector will not be there to support and revive the sector.

The Ministry of Finance of Iraq in August of 2011, the postponement of the tariff law until the year 2013 due to the absence of mechanisms of action and high commodity prices in the Iraqi market.

The Tariff Act gives the Council of Ministers at the request of the Minister of Finance amend the customs duty provided for in the customs tariff schedules and prices of agricultural products in case of emergency need for economic and monetary require protection measures or reciprocity.

The U.S. embassy in Baghdad has warned Iraq on October 9 last exposure of the economy at risk because of its reliance on revenues of oil alone, announcing at the same time that Iraq’s economy has achieved a growth of [9.6]% in 2011, according to the report issued by the Regional Economic Development Project Trade Tijara of the U.S. Agency for International Development.

It is said that the U.S. embassy in Baghdad, the beginning of the month of November, represented by the United States for International Development [USAID], and the Advisory Committee to the Prime Minister, hosted an economic conference to discuss the report of the new assessment, which determines the economic priorities in Iraq, as well as that Iraq mono economy, depends on More than 90% of its revenues on the sale of oil and gas


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