he high Minister’s financial marketing consultant, Mazhar Mohammed Salih, confirmed that US President Donald Trump’s latest message to the Iraqi authorities incorporates clear symptoms of a fine course closer to strengthening the exchange and investment partnership between the 2 nations. however, he described the imposition of a 30% tariff on Iraq as “illogical.”
Saleh explained, in a declaration to dinaropinions.com that “the contents of the letter clearly imply america management’s efforts to enlarge the horizons of economic cooperation and open new windows for the trade of advantages between two countries related with the aid of long-time period strategic family members, most substantially the 2008 Strategic Framework settlement.”
Saleh mentioned that “Iraqi exports to the united states are nearly completely crude oil, which does now not exceed two hundred,000 barrels in line with day, with an annual value of about $4.5 billion. those exports are basically exempt from the price lists formerly imposed with the aid of President Trump.”
He explained that “the yank message hinted on the opportunity of imposing a 30% tariff, which does not appear logical in mild of the absence of different real Iraqi exports to the yankee market that might warrant this kind of measure.”
In contrast, the authorities advisor said that “the Iraqi marketplace imports about $1.5 billion really worth of yank goods and services annually, ranging from engineering and electric system, spare parts, precision instruments, civil plane, virtual technology, superior logistics offerings, as well as vehicles and agricultural merchandise.”
Saleh emphasised that “those imports, despite their highly modest length, are of strategic importance given the assist they offer to the production and carrier sectors, in particular given their great, sturdiness, and technological development.”
Saleh concluded from the White house message that it “paves the manner for expanding trade cooperation between the 2 countries through encouraging quality imports from the united states, in particular in regions that serve Iraq’s sustainable improvement goals, along with renewable electricity, statistics era, and 86f68e4d402306ad3cd330d005134dac capital and patron items.”
He introduced, “This trend comes at a time while Iraq is looking for to diversify its countrywide financial system and free its change balance from excessive reliance on oil.” He pointed out that “such cooperation with an advanced worldwide economy like the u.s.a. should contribute to restructuring Iraqi imports in a way that complements performance, effectiveness, and productivity, instead of expanding the import of luxurious items or low-fee-introduced items.”
The economic guide referred to that “Iraq invests almost half of its foreign reserves in US Treasury bonds, reflecting a level of mutual believe and a outstanding indicator of the strength and balance of the financial account in Iraq’s balance of payments.”
Saleh concluded by using announcing, “This investment is an essential pillar in managing bilateral economic family members, improving Iraq’s capacity to keep developing its assets and using them to help its financial balance.” He emphasised that “the american message have to not be interpreted narrowly or as a industrial chance. instead, it affords a strategic opportunity to build a broader financial partnership based on shared pursuits, mutual appreciate, and maximizing improvement returns for each events.”
