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Iraq will turn to producing, industrial country: Economic Council


The Iraqi Economic Council has said Iraq will turn over the coming period of time from a consumer to a producing country that encourages national industry.

“Essential changes will occur on the strategic plan of the economy of Iraq during the coming phase, through supporting the industry at the expense of trade and turning Iraq from a consuming country and an open market to a producing country that encourages the national industry,” Ibrahim al-Baghdadi, head of the council, said in remarks in Baghdad.

Baghdadi referred to applying the laws that were made for this purpose, including the one on the custom tariffs, the law on protecting the national product, law on consumer protection and the anti-dumping law. He also urged the Turkish side to take advantage of the benefits of the Iraqi investment law no.13 for the year 2006 and its amendments.

“Depending on trade only will reduce the profits, as everyone seeks increasing the custom tariff to encourage the national industry. Thus, making bilateral partnerships to invest in the agricultural, industrial and tourism fields will have better future,” he added.

Last Modified: Wednesday، 16 January 2019 12:23 PM