The Minister Of Trade Announces The Launch Of The Electronic Merchant Platform And A New Package Of Automation Projects.
Money and Business Economy News – Baghdad Minister of Trade, Atheer Dawood Al-Ghurairi, announced on Thursday a new package of automation projects to simplify the services of the Companies Registration Department, while also indicating the launch of the electronic merchant platform
Al-Ghurairi said in a press conference, which was followed by “Al-Eqtisad News”, that “the electronic transformation is not an electronic obligation, but it has become an economic necessity and an obligation for the government to improve its services and raise the efficiency of its institutions. Believing in this principle, the Ministry of Trade has begun with important steps and real achievements, as the complete transformation of the ration card has been completed and services have been provided to citizens through an efficient electronic link that spares the citizen from having to visit the institutions of the Ministry of Trade, and with complete transparency.”
He added that “the program achieved several goals, the most important of which is providing a real service to the citizen that spares him from having to visit institutions and extort bad employees. One of its goals is also to preserve state funds, as 5 million citizens who are traveling, deceased, and duplicate names were removed from the ration card, thus saving an amount of no less than one trillion dinars,” noting “the integrity of real data that was not previously achieved, which was paper-based, and today digital data is based on the unified card and easy services for the citizen.”
He continued: “Today we announce the transformation of the Companies Registration Department into a nearly complete electronic transformation, as we are launching 30 services today,” explaining that “this first near-final package will be fully completed within two months, in addition to 34 additional services, which will be the culmination of work that lasted for two years. We have also archived 103,000 files and 18 million and 450 thousand papers and documents into electronic format and dispensed with paper.”
He stressed that “the electronic transformation provides simplification of procedures for the citizen and the concerned party, ease of service delivery, speed of completion and transparency through transaction monitoring,” announcing “the launch of the electronic commerce system application, which has become a large market where the percentage of electronic buying and selling transactions has reached $12 billion.”
He stated that “the Ministry of Trade achieves two important things: first, protecting the consumer from any fraud and manipulation, and second, protecting the producer and seller from fraud and manipulation of brands. Therefore, it is regulating the buying and selling process.”
He explained that “a department was created in the legal department to manage the file of the electronic trade system and issue the electronic trader license. In addition to completing the certificate of origin and the invoice, any exporter to Iraq from any country needs to go to the capital or the headquarters of the commercial attaché to have his papers certified, and this is routine and an obstacle. Today it has become electronic, and the company owner can certify electronically easily, and it is not subject to manipulation and is linked to ASYCUDA and the borders.”
He pointed out that “the process is a true governance that moves Iraqi trade through the linking of its institutions with border crossings, customs, institutions affiliated with the Iraqi government and commercial attachés, and linking this chain,” stressing that “the ministry is moving towards true governance and control of foreign and domestic trade in a way that serves the citizen and the merchant together.”https://www.economy-news.net/content.php?id=68245
Declining Global Demand Is Putting Pressure On The Rice Market, With Iraq Among The Affected Countries.
Money and Business Economy News – Baghdad Data released by the US Department of Agriculture on Thursday indicates significant shifts in the global rice market during the 2025/2026 season, with rising supplies and stocks compared to a slight decline in consumption and trade, including in Iraq.
According to the Ministry’s report on “Rice Outlook for April 2026”, which was reviewed by “Al-Eqtisad News”, global production is expected to reach about 541.4 million tons, driven by a slight increase in production within Thailand, while production in both India and China remained at high levels that make them the largest producers globally.
In contrast, global consumption forecasts were reduced by about 400,000 tons to 540.6 million tons, as a result of declining demand in several countries, including Iraq, which recorded a decrease of about 100,000 tons, in addition to declines in Japan and other countries in the Middle East.
Despite this decline, global consumption remains close to record levels, especially in key countries such as Bangladesh, Nigeria and Vietnam, reflecting continued strong demand but with a relative slowdown.
On the supply side, projected global stockpiles rose to 192.3 million tons, driven by increases in countries such as Iran and Pakistan, while China and India hold the largest share of these stockpiles as a result of government storage policies.
As for trade, global rice exports are expected to reach a record high of 62.1 million tons in 2026, despite a slight downward revision of forecasts due to increased competition, particularly from low-price exporters such as India and Pakistan, which is putting downward pressure on global prices.
These developments reflect direct effects on importing markets, including Iraq, where declining consumption indicates changes in domestic demand or import patterns, in parallel with a decrease in imports from a number of Middle Eastern and African countries.https://www.economy-news.net/content.php?id=68244
Oil Jumps Past $100 Following Iran-US Impasse
2026-04-23 Shafaq News Oil prices extended their gains on Thursday in the wake of stalled peace talks between Iran and the United States, and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz.
Brent crude futures rose $1.37, or 1.3%, to $103.28 a barrel at 0410 GMT, after settling above $100 for the first time in more than two weeks on Wednesday. West Texas Intermediate futures were also up $1.52, or 1.6%, at $94.48.
Both benchmarks closed more than $3 higher on Wednesday after larger-than-expected gasoline and distillate stock draws in the U.S., and over the lack of progress on Iran peace talks.
“The oil market is repricing expectations with little sign of progress in finding a resolution in the Persian Gulf,” said ING analysts in a note, adding that hopes for a resolution are fading as peace talks stall.
“In addition, Iran’s seizure of two vessels attempting to transit the Strait of Hormuz suggests disruptions to shipments are set to continue.”
While U.S. President Donald Trump extended a ceasefire between the countries following a request by Pakistani mediators, Iran and the U.S. are still restricting the transit of ships through the strait, which carried about 20% of daily global oil supplies until the war began on February 28.
Iran seized two ships in the waterway on Wednesday, tightening its grip on the strategic chokepoint. Trump has also maintained a U.S. Navy blockade of Iran’s trade by sea, and Iranian parliament speaker and top negotiator Mohammad Baqer Qalibaf said a full ceasefire only made sense if the blockade was lifted.
The U.S. military has intercepted at least three Iranian-flagged tankers in Asian waters and is redirecting them away from positions near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday.
With his extension of the ceasefire on Tuesday, Trump again pulled back at the last moment from warnings to bomb Iran’s power plants and bridges. Trump has not set an end date for the extended ceasefire, White House press secretary Karoline Leavitt told reporters.
US Exports Set Record High
On energy trade, total exports of crude oil and petroleum products from the United States climbed by 137,000 barrels per day to a record 12.88 million bpd as Asian and European countries bought up supplies after disruptions tied to the Iran war.
U.S. crude stocks rose while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.
Crude inventories rose by 1.9 million barrels, compared with expectations in a Reuters poll for a 1.2 million-barrel draw.
U.S. gasoline stocks fell by 4.6 million barrels, while analysts had expected a 1.5 million-barrel draw. Distillate stockpiles dropped by 3.4 million barrels versus expectations for a 2.5 million-barrel drop. (Reuters)
Dollar Rises In Baghdad And Erbil Markets
2026-04-23 Shafaq News- Baghdad/ Erbil The US dollar opened Thursday’s trading higher in Iraq, hovering around 155,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 154,950 dinars per 100 dollars, up from the previous session’s 154,750 dinars.
In the Iraqi capital, exchange shops sold the dollar at 156,500 dinars and bought it at 155,500 dinars, while in Erbil, selling prices stood at 154,950 dinars and buying prices at 154,800 dinars.
