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Experts: Activating the industrial and agricultural sectors stops 80% of imports
Economical 03/19/2024
Baghdad: Hussein Thaghb Al-Tamimi
Specialists and experts in economic affairs believe that fully
activating the industrial and agricultural sectors could stop 80 percent of imports, while they stressed that
stabilizing prices in local markets requires cooperation between the concerned parties.
Head of the Baghdad Chamber of Commerce, Firas Rasool Al-Hamdani, said:
The chamber’s committees are working to follow up on prices in local markets to find out the reasons for the high prices of food in the markets.
He revealed the existence of reasons for raising prices that are beyond control, which we can put in the category of external reasons. The Chamber’s committees are also studying problems in the markets and their impact on price stability.
It is noteworthy that the
external reasons are represented by the increase in prices from the source of imported materials at certain times of the year, including coinciding with the advent of the holy month of Ramadan. As for the
internal reasons, they are represented by the confusion occurring at the ports and the entry of food supplies, in addition to the delay in financial transfers.
Economic affairs specialist Ahmed Maklaf said:
The rise in food prices is clear this year, and here
we can diagnose the reasons, most notably the accumulation of goods imported from abroad in Iraqi ports, which has confused the customs clearance scene, due to the difficulty of financial transfer and the failure of remittances to reach the source of imported materials.
He pointed out the importance of having a money transfer system that the importing merchant interacts with and knows its requirements to avoid such matters, which have become a challenge to importing goods.
He stressed that regulating the commercial reality is extremely important, as the
Iraqi market depends to a large extent on imports from international and regional markets to cover the increasing demand for foodstuffs, and this matter must be realized by the relevant authorities.
As for the specialist in commercial affairs, Omar Al-Sudani, he stressed that a
market the size of Iraq and growing is in dire need of organizing its commercial reality and rising to the world in performance, as the
commercial process must be organized in all its stages from the source, transportation, and ports all the way to the final destination, in addition
to ensuring that the import amounts are paid in accordance with Legal conditions at official exchange rates. Al-Sudani explained that the
local market requires the cooperation of all concerned parties and the
presence of flexible work mechanisms that achieve high smoothness in the arrival of goods, away from all forms of complexity, which is usually one of the causes of routine.
He pointed out the necessity of regulating the reality of financial transfers in a way that does not confuse the commercial scene, which suffers greatly from this matter, as the ball is thrown in the court of the financial sector, which causes confusion in the entry of goods into the local market.
As for Baghdad Economic Forum member Jassem Al-Aradi, he said:
The Iraqi market’s dependence on global markets to cover the Iraqi family’s requirements is something that needs to be stopped, as
the country can dispense with most foreign imports if the country’s own efforts are relied upon. He stated that
activating the agricultural and industrial sectors eliminates the need for importing 80% from outside the country,
especially since the
elements for the success of the two sectors are available in Iraq on a large scale and
can be employed in a way that raises Iraq’s productive capabilities to levels that cover the country’s need for some crops and industries.
He stressed the necessity of raising the country's administrative capabilities in a way that
makes the productive sectors more effective and
contributes to covering the country's needs.
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Economical 03/19/2024
Baghdad: Hussein Thaghb Al-Tamimi
Specialists and experts in economic affairs believe that fully
activating the industrial and agricultural sectors could stop 80 percent of imports, while they stressed that
stabilizing prices in local markets requires cooperation between the concerned parties.
Head of the Baghdad Chamber of Commerce, Firas Rasool Al-Hamdani, said:
The chamber’s committees are working to follow up on prices in local markets to find out the reasons for the high prices of food in the markets.
He revealed the existence of reasons for raising prices that are beyond control, which we can put in the category of external reasons. The Chamber’s committees are also studying problems in the markets and their impact on price stability.
It is noteworthy that the
external reasons are represented by the increase in prices from the source of imported materials at certain times of the year, including coinciding with the advent of the holy month of Ramadan. As for the
internal reasons, they are represented by the confusion occurring at the ports and the entry of food supplies, in addition to the delay in financial transfers.
Economic affairs specialist Ahmed Maklaf said:
The rise in food prices is clear this year, and here
we can diagnose the reasons, most notably the accumulation of goods imported from abroad in Iraqi ports, which has confused the customs clearance scene, due to the difficulty of financial transfer and the failure of remittances to reach the source of imported materials.
He pointed out the importance of having a money transfer system that the importing merchant interacts with and knows its requirements to avoid such matters, which have become a challenge to importing goods.
He stressed that regulating the commercial reality is extremely important, as the
Iraqi market depends to a large extent on imports from international and regional markets to cover the increasing demand for foodstuffs, and this matter must be realized by the relevant authorities.
As for the specialist in commercial affairs, Omar Al-Sudani, he stressed that a
market the size of Iraq and growing is in dire need of organizing its commercial reality and rising to the world in performance, as the
commercial process must be organized in all its stages from the source, transportation, and ports all the way to the final destination, in addition
to ensuring that the import amounts are paid in accordance with Legal conditions at official exchange rates. Al-Sudani explained that the
local market requires the cooperation of all concerned parties and the
presence of flexible work mechanisms that achieve high smoothness in the arrival of goods, away from all forms of complexity, which is usually one of the causes of routine.
He pointed out the necessity of regulating the reality of financial transfers in a way that does not confuse the commercial scene, which suffers greatly from this matter, as the ball is thrown in the court of the financial sector, which causes confusion in the entry of goods into the local market.
As for Baghdad Economic Forum member Jassem Al-Aradi, he said:
The Iraqi market’s dependence on global markets to cover the Iraqi family’s requirements is something that needs to be stopped, as
the country can dispense with most foreign imports if the country’s own efforts are relied upon. He stated that
activating the agricultural and industrial sectors eliminates the need for importing 80% from outside the country,
especially since the
elements for the success of the two sectors are available in Iraq on a large scale and
can be employed in a way that raises Iraq’s productive capabilities to levels that cover the country’s need for some crops and industries.
He stressed the necessity of raising the country's administrative capabilities in a way that
makes the productive sectors more effective and
contributes to covering the country's needs.
[You must be registered and logged in to see this link.]
