Economy News – Baghdad
Abdul Razzaq Al-Zuhairi, the head of the Iraqi Chambers of Commerce, announced on Wednesday that the Iraqi-Jordanian Coordination Committee has reached an agreement regarding the organization of goods exchange and trade between Iraq and Jordan. This initiative reflects a strategic shift towards reducing imports and promoting the establishment of domestic factories to enhance national industry.
In a statement shared during the sessions held alongside the Baghdad International Fair, which included the presence of ministers from both countries and representatives from the Federation of Chambers of Commerce and Industry, Al-Zuhairi noted that discussions also centered on Jordanian goods organization. Furthermore, the committee reaffirmed its commitment to maintaining Resolution 25 of 2016, with only minimal exemptions.
Al-Zuhairi emphasized that the agreement prioritizes the protection of domestic products, thereby supporting Iraq’s national industry. He indicated that discussions also encompassed trade exchange organization between the two nations. Looking ahead, he announced that the committee is scheduled to convene again next year, where it will revisit and update the agreement as necessary.
He elaborated on the government’s commitment to prioritize the private sector from the outset of its tenure, resulting in various legal and regulatory reforms aimed at making Iraq an attractive destination for international business.
Moreover, Al-Zuhairi observed that the Iraqi–Egyptian forum took place with similar coordination among Egyptian officials, marking the participation of over 45 Egyptian businessmen involved in projects in Iraq. He reiterated the importance of reducing imports and fostering the establishment of local factories to bolster national industry, with strong backing from Prime Minister Mohammed Shia Sudani in these endeavors.
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