Economy News – Baghdad
On Monday, the Ministerial Council for Economy announced the extension of the ban on the import of juices, refreshments, and pastries for an additional six months.
The council, under the leadership of Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein, convened for its ninth session. In attendance were the Deputy Prime Minister and Minister of Planning, Ministers of Trade, Agriculture, and Industry, along with key officials including the Secretary-General of the Council of Ministers, Governor of the Central Bank, Chairman of the Financial Oil Authority, Undersecretary of the Ministry of Oil, Deputy Chairman of the National Investment Authority, and the Prime Minister’s Advisor for Economic Affairs.
During the meeting, the council reviewed the agenda items and made the necessary decisions. A significant update included the Ministry of Health’s report regarding claims from several Turkish companies, which are seeking outstanding payments from the ministry. The ministry’s deliberations will involve coordination with the Ministry of Finance to ensure these claims conform to the supportive actions taken by the Ministry of Health.
Furthermore, in light of the annual assessment of the import ban on juices, refreshments, and pastries, the Ministerial Council for Economics has recommended that the Council of Ministers continue the existing ban for another six months. Local producers are encouraged to submit requests for protection under the Iraqi Product Production Law No. 11 of 2010, as amended. Additionally, the Ministry of Trade has been tasked with overseeing the registration of foodstuff import companies, ensuring they obtain the required licenses and comply with health standards through rigorous examination and control protocols.
The council also resolved to conduct a workshop encompassing the Economic Department within the Ministries of Foreign Affairs and Trade, alongside relevant ministries. This workshop aims to analyze the TIFA agreement and formulate strategies for engagement with the new U.S. administration, focusing on national interests and mutual benefits, particularly concerning the strategic framework agreement between Iraq and the United States.
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