Minister Of Trade: Iraq’s Accession To The World Trade Organization Is A “Strategic Step”
Economy | 03/06/2025 Mawazine News – Baghdad – The Ministry of Trade confirmed, on Tuesday, that Iraq’s accession to the World Trade Organization is a “strategic step.”
Ministry spokesman Mohammed Hanoun told Mawazine News that “Minister of Trade Atheer Al-Ghurairi announced today that Iraq has made significant progress in its accession process to the World Trade Organization.
” Hanoun added that “the minister explained that the national team responsible for completing the accession requirements has completed answering more than 450 technical questions submitted by the organization’s members, which reflects Iraq’s serious commitment and transparency in dealing with the requirements of this important international process.”
Hanoun confirmed that the minister indicated that “the national team is fully prepared for the next round of meetings with the organization’s General Secretariat and members of the working groups, and will represent Iraq with a unified position based on a national economic vision that seeks disciplined integration into the global economy.”
+The minister also noted that “accession to the World Trade Organization constitutes a strategic step to support the business environment, stimulate investment, and develop productive sectors, especially industrial and agricultural, thus enhancing Iraq’s economic position regionally and internationally.”
Hanoun concluded, “The Minister reiterated that the Ministry of Commerce, in coordination with relevant ministries and institutions, will continue its technical and diplomatic efforts to ensure the best results in the service of the supreme national interest.” https://www.mawazin.net/Details.aspx?jimare=262133
A Government Advisor Explains The Importance Of Increasing The Link Between Mineral Investment And The Development Of Manufacturing Industries
Economy | 04/06/2025 Mawazine News – Baghdad – The Prime Minister’s Financial Advisor, Mazhar Mohammed Salih, explained today, Wednesday, that Iraq is moving towards diversifying its GDP sources by expanding investment in the mining sector, while stressing the importance of increasing the link between mineral investment and the development of national manufacturing industries.
Salih said in a statement followed by Mawazine News that “Iraq is moving towards diversifying its GDP sources by expanding investment in the mining sector, a sector that has been neglected for decades.
The government has signed memoranda of understanding with reputable international companies in the fields of mineral exploration and investment, especially in the fields of phosphate, sulfur, lithium and copper. This is within the framework of the strategic directions of the Iraqi government program to diversify sources of national income and optimally exploit the country’s wealth.”
He added, “Investment in the mining sector will contribute to attracting billions of dollars in fields ready for development, such as sulfur, phosphate, lithium, and other minerals.”
He pointed out that “Iraq ranks first in the world in terms of the concentration of natural resources per square kilometer, and ninth in the world in the value of various natural resources, with an estimated value exceeding 16 trillion US dollars, according to published global estimates.”
He explained that “the various reserves of land wealth constitute a diverse stock of minerals, foremost among which is phosphate: its reserves are estimated at more than 10 billion tons, and our country is second in the world in terms of reserves, and is concentrated in the Akashat area in Anbar Governorate. Second is free sulfur:
our country enjoys large reserves in Mishraq in Nineveh Governorate, which is considered one of the largest free sulfur fields in the world. The third is silica: in the Najaf region and western Iraq, and is used in the glass, electronics, and semiconductor industries. It is one of the most important and purest reserves in the world, according to published international estimates.”
He continued: “Likewise, iron, manganese, copper, and gold are distributed across various regions of Iraq, especially in the Kurdistan Region and the western and central borders, except for southern Iraq, which possesses vast reserves of other rare natural resources.”
He pointed out that “the policy of diversifying the national economy through the extraction and processing of mineral resources for national industries, and then adopting their export by maximizing (value-added chains) in manufacturing or semi-manufacturing industries, will add at least 10 percent to the GDP in the first phase.”
He pointed out that “the percentage will then increase to form, over time, one of the pillars of diversifying national income sources, especially if the link between mineral investment and the development of national manufacturing industries grows, such as fertilizer, aluminum, glass, electronics, and battery industries related to renewable energy, in addition to the introduction of foreign capital, advanced technology and digital services, the provision of national job opportunities, and investment in the Iraqi people as a productive national energy.” https://www.mawazin.net/Details.aspx?jimare=262148
Headed By The Prime Minister, The Higher Committee For Reconstruction And Investment Approves Several Projects
Economy | 04/06/2025 Headed by the Prime Minister, the Higher Committee for Reconstruction and Investment approves several projects. https://www.mawazin.net/Details.aspx?jimare=262166
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