Dr. Ghassan Al-Tamimi, a prominent member of the Baghdad Economic Forum and President of the Carats Economic Development Foundation, has emphasized the significance of the government’s decision to localize the gold industry. This initiative is poised to revitalize the gold formulation profession, thereby enhancing the local precious metal industry and, ultimately, bolstering the national economy.
Al-Tamimi remarked on Prime Minister Mohammed Shia Al-Sudani’s commitment to this vital economic sector, which he believes will play a crucial role in advancing development within the national industry.
Historically, Iraq is recognized as one of the oldest countries renowned for its exquisite gold jewelry craftsmanship. However, this traditional profession faced significant challenges in recent years, resulting in a reliance on imported jewelry from neighboring countries, often at great cost in hard currency.
Al-Tamimi highlighted that the government’s decision is not only economically viable but will also create job opportunities for the nation’s youth. Additionally, it is expected to mitigate foreign currency outflows associated with jewelry imports.
He further explained that the Karat Foundation for Economic Development serves as a civil society institution officially recognized by the Department of Organizations in the Secretariat of the Council of Ministers. Its mission is to represent the workforce in the precious metals sector and collaborate with governmental bodies to revive traditional professions while preserving the rich heritage associated with gold jewelry in the country.
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