Home
A significant decline in Iranian steel exports to Iraq.. An official reveals the reason
Economy 2024-06-16 | 10:41
1,212 views
Alsumaria News - Economy
The Secretary-General of the Joint Iranian-Iraqi Chamber of Commerce said that Iraq, in order to support local production,
prohibits the import of goods that it believes have reached the point of self-sufficiency in production, and
imposes duties on other goods,
which greatly affects the trade of the two countries.
Jahan Bakhsh Sanjabi Shirazi spoke to ILNA Labor Agency about the factors that negatively affect trade exchange between Iran and Iraq :
Iraq is pursuing a policy of joining the World Trade Organization, and
therefore, adopting such a policy will affect part of the policies to support local production by increasing customs tariffs on imports, and the policy of increasing customs tariffs on imports will not be useful in the future.
Iraq is pursuing a policy of joining the World Trade Organization, and therefore, adopting such a policy will affect part of the policies to support local production by increasing customs tariffs on imports, and the policy of increasing customs tariffs on imports will not be useful in the future.
explained The Secretary-General of the Joint Iranian-Iraqi Chamber of Commerce :
Iraq is doing two things to support local production.
First, it bans the import of goods that it deems have reached the point of self-sufficiency in their production, which is most evident in perishable goods and agricultural materials, and
every year, Iranian exporters face a seasonal ban.
In addition to agricultural products, Iraqis are close to the limits of self-sufficiency in drinks, sweets, biscuits, cakes, koloja, and detergents.
It seems that packaged and manufactured food and beverage products will also be subject to anti-import policies, as well as cement, whose market Iran has completely lost in this country. He added:
This country also imposes customs tariffs on the import of a number of other goods, the latest example of which is the imposition of 20% customs duties on imports of rebar.
Such policies, and the foreign exchange and trade policies that have affected trade with Iraq since the end of last year, indicate that Iran will face a significant decline in exports of steel products, including rebar, and this will affect the export of other goods to Iraq in the long term. He said:
The Secretary General of the Iranian Steel Manufacturers Association had revealed a 76 percent decline in exports of steel products produced in small Iranian steel units last year, and such a decline could affect the trade balance between Iran and Iraq by more than seven percent.
Regarding Iran’s position in the Iraqi commercial market, Sanjabi Shirazi said:
Iraq does not have is considered the second major export destination for Iranian goods, but for the Iraqis, Iran such a status, as Iran is Iraq’s fourth trading partner.
The UAE and China are ahead of Iran , and India and Saudi Arabia are behind Iran. cannot be compared to the share of the UAE and China in this country's economy.
At the same time, Iran's share in the Iraqi economy
He referred to the latest developments regarding banking transactions between Iran and Iraq in the deals of Iranian merchants in the private sector, and said:
Banking transactions of Iranians with Iraq are not prohibited. has implemented Iraq two sets of policies since the beginning of 2023.
In the first step, this country set an official price for the dollar of 1,320 dinars.
Since most of Iraq's foreign exchange revenues are dollar revenues, the Iraqi government stated that it would provide the dollar to everyone who needs it, but it excluded five countries from this decision: Iran , Syria, North Korea, Russia, and Sudan. He added:
There are solutions so that the policies of the Central Bank of Iraq do not have a significant impact on the trade of Iraq and Iran and on the volume of transactions between the two countries.
These are the agreements on the agenda of the central banks of the two countries to use a new currency such as the riyal or the euro in financial transactions.
Therefore, what the Iranians are going through today with regard to financial exchanges with the Iraqis is better than expectations.
Explaining the latest conditions for transporting goods between the two countries, Sanjabi said:
We are witnessing a significant growth in transport movement on the northern border with Iraq and the common border with the Kurdistan region, especially the Tamershin border, but in the borders of Parvizkhan and Bashmak, a slight decline was observed due to Iraq’s regional policies, but in a significant way.
In general, the export of goods in the central and northern parts of Iraq is growing. He continued:
But stopping trucks for more than a day and a half at the zero border point increases trade costs significantly, especially since Iran’s imports exports are more than Iraq’s to Iran , and
as a result, Iraqi trucks heading towards Iran do not have loads to transport to our country, and
this also increases. of the cost of trade.
The problem is that the infrastructure is not fully ready for transportation, and the Iranians are forced to unload and load at the border points with Iraq.
[You must be registered and logged in to see this link.]
Economy 2024-06-16 | 10:41
1,212 views
Alsumaria News - Economy
The Secretary-General of the Joint Iranian-Iraqi Chamber of Commerce said that Iraq, in order to support local production,
prohibits the import of goods that it believes have reached the point of self-sufficiency in production, and
imposes duties on other goods,
which greatly affects the trade of the two countries.
Jahan Bakhsh Sanjabi Shirazi spoke to ILNA Labor Agency about the factors that negatively affect trade exchange between Iran and Iraq :
Iraq is pursuing a policy of joining the World Trade Organization, and
therefore, adopting such a policy will affect part of the policies to support local production by increasing customs tariffs on imports, and the policy of increasing customs tariffs on imports will not be useful in the future.
Iraq is pursuing a policy of joining the World Trade Organization, and therefore, adopting such a policy will affect part of the policies to support local production by increasing customs tariffs on imports, and the policy of increasing customs tariffs on imports will not be useful in the future.
explained The Secretary-General of the Joint Iranian-Iraqi Chamber of Commerce :
Iraq is doing two things to support local production.
First, it bans the import of goods that it deems have reached the point of self-sufficiency in their production, which is most evident in perishable goods and agricultural materials, and
every year, Iranian exporters face a seasonal ban.
In addition to agricultural products, Iraqis are close to the limits of self-sufficiency in drinks, sweets, biscuits, cakes, koloja, and detergents.
It seems that packaged and manufactured food and beverage products will also be subject to anti-import policies, as well as cement, whose market Iran has completely lost in this country. He added:
This country also imposes customs tariffs on the import of a number of other goods, the latest example of which is the imposition of 20% customs duties on imports of rebar.
Such policies, and the foreign exchange and trade policies that have affected trade with Iraq since the end of last year, indicate that Iran will face a significant decline in exports of steel products, including rebar, and this will affect the export of other goods to Iraq in the long term. He said:
The Secretary General of the Iranian Steel Manufacturers Association had revealed a 76 percent decline in exports of steel products produced in small Iranian steel units last year, and such a decline could affect the trade balance between Iran and Iraq by more than seven percent.
Regarding Iran’s position in the Iraqi commercial market, Sanjabi Shirazi said:
Iraq does not have is considered the second major export destination for Iranian goods, but for the Iraqis, Iran such a status, as Iran is Iraq’s fourth trading partner.
The UAE and China are ahead of Iran , and India and Saudi Arabia are behind Iran. cannot be compared to the share of the UAE and China in this country's economy.
At the same time, Iran's share in the Iraqi economy
He referred to the latest developments regarding banking transactions between Iran and Iraq in the deals of Iranian merchants in the private sector, and said:
Banking transactions of Iranians with Iraq are not prohibited. has implemented Iraq two sets of policies since the beginning of 2023.
In the first step, this country set an official price for the dollar of 1,320 dinars.
Since most of Iraq's foreign exchange revenues are dollar revenues, the Iraqi government stated that it would provide the dollar to everyone who needs it, but it excluded five countries from this decision: Iran , Syria, North Korea, Russia, and Sudan. He added:
There are solutions so that the policies of the Central Bank of Iraq do not have a significant impact on the trade of Iraq and Iran and on the volume of transactions between the two countries.
These are the agreements on the agenda of the central banks of the two countries to use a new currency such as the riyal or the euro in financial transactions.
Therefore, what the Iranians are going through today with regard to financial exchanges with the Iraqis is better than expectations.
Explaining the latest conditions for transporting goods between the two countries, Sanjabi said:
We are witnessing a significant growth in transport movement on the northern border with Iraq and the common border with the Kurdistan region, especially the Tamershin border, but in the borders of Parvizkhan and Bashmak, a slight decline was observed due to Iraq’s regional policies, but in a significant way.
In general, the export of goods in the central and northern parts of Iraq is growing. He continued:
But stopping trucks for more than a day and a half at the zero border point increases trade costs significantly, especially since Iran’s imports exports are more than Iraq’s to Iran , and
as a result, Iraqi trucks heading towards Iran do not have loads to transport to our country, and
this also increases. of the cost of trade.
The problem is that the infrastructure is not fully ready for transportation, and the Iranians are forced to unload and load at the border points with Iraq.
[You must be registered and logged in to see this link.]
