Bondlady’s Corner – Iraq Economic News and Points to Ponder Late Friday Evening 2-16-24


Iraq Economic News and Points to Ponder Late Friday Evening 2-16-24

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: Iraq imports goods worth 70 billion dollars annually

Economy     Iraq     Holland    Import     Muhammad Shiaa Al-Sudani  2024-02-15 09:31  Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani said on Thursday that Iraq annually imports $70 billion in goods, indicating that the government’s priorities are reforming the economy and not continuing to rely on oil revenues.

This came during a speech by Al-Sudani, which he delivered at a dialogue seminar held in the Dutch city of Rotterdam, attended by a number of businessmen and representatives of 40 companies, according to a statement received by Shafaq News Agency. Al-Sudani stated,

“Iraq is going through a state of recovery today, at various levels, after passing the stage of the war against ISIS, in which the Iraqi people won, with the support and backing of the international community, and the Netherlands was among the countries supporting these efforts.” He added:

“We asked the international coalition to end its mission in Iraq, which lasted 10 years, in light of the readiness and efficiency of the Iraqi security services.”  

Regarding the economic file, Al-Sudani stressed, “The government has priorities, including reforming the Iraqi economy, through two tracks.

     The first is achieving reforms in the various economic, banking and financial sectors, and gas investment, and   the other is implementing projects that provide job opportunities and meet our needs for services and goods.”

Regarding the water issue, the Prime Minister pointed out the start of a program to use water optimally, in light of the conditions of scarcity that the region and the world suffer from,” adding:

“We supported farmers and farmers in acquiring modern irrigation systems, and we are trying to invest in the successful experiences in the Netherlands to confront water scarcity in Iraq.”.  

Regarding investment projects, Al-Sudani said, “The Iraq Fund for Development will engage with the private sector in implementing projects away from the government, whose role will be planning and organizing,” stressing that

“the government provides sovereign guarantees to the private sector of up to 85% for any project being implemented.” This is an unprecedented percentage.”  He continued:

“We have embarked on a radical reform of the financial and banking sector, and procedures related to compliance with international standards in financial transfers,” noting that

“international and Arab banks have begun to open their branches in Iraq, and

there is will and work, at all levels of Iraqi state institutions, in order to move to reality.” better”.اقتصـاد/السوداني-العراق-يستورد-سلعا-بـ70-مليار-دولار-سنويا

Minister Of Commerce: International Welcome And Desire To Increase Investments In Iraq

Economy    02-15-2024, Cairo – INA – Rasha Muhammad, Minister of Trade, Atheer Al-Ghurairi, revealed today, Thursday, a wide welcome and international desire to increase investments inside Iraq, while confirming the holding of meetings with 3 countries in this regard.

Al-Ghurairi said during his participation in the 113th session of the Economic and Social Council, which was held at the Arab League, in a speech followed by the Iraqi News Agency (INA):

“Iraq today seeks, within the government program of Prime Minister Muhammad Shia al-Sudani,

     to improve the investment environment and seeks

     to receive private sector companies with the aim of improving reality.” “The economic situation in Iraq and the

     announcement of the availability of great investment opportunities.”  He added,

“There are many important projects in Iraq, including the development road and the railway line between Holy Karbala and Najaf Al-Ashraf,” noting “the necessity of encouraging investments from the private sector inside Iraq.”  He added,

“Iraq seeks to increase investment projects with Arab countries,” noting,

“There are major initiatives by Arab countries, and there was a

     great welcome from them to increase investments in Iraq and

     implement many economic agreements and conferences, and

     there are many protocols implemented with countries.”

The UAE, Qatar, and Egypt formed committees that included delegations from businessmen and the private sector inside Iraq, and  we noticed a tangible change in the      management of the economic file and the     general economic policy of the Iraqi state.” 

He pointed out,  “The meeting came out with many decisions that were approved, including      enhancing intra-trade,     liberalizing trade in goods, and     welcoming Iraq’s accession to the World Trade Organization.”  He stressed, “This is what Iraq aspires to, as its steps have begun to convey their messages to all countries, and the

Iraqi economy will witness a significant recovery during the coming period in order to achieve common interests and achieve mutual benefit between Iraq and the Arab countries.”  He pointed out that  

“there are rapid initiatives in infrastructure investment with the Egyptian, Qatari and Emirati sides through many agreements concluded during the previous period.”–.html

To read more current and reliable Iraqi news please visit BondLady’s Corner: 

Points To Ponder on Anxiety about the Future

Death does not frighten me, but dying obscurely and above all uselessly does.  – Isabelle Eberhardt

Fear of life in one form or another is the great thing to exorcise.  – William James

If we let things terrify us, life will not be worth living.  – Marcus Annaeus Seneca

A good life fears not life, nor death.  – Thomas Fuller

He who fears death cannot enjoy life.  – Spanish proverb

Healthy children will not fear life if their elders have integrity enough not to fear death.  – Erik H. Erikson