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An invitation to the need to establish a free economic zone of the commercial exchanges
On: Friday 5/4/2012 5:18
Baghdad / term
called a member of the Finance Committee in the House of Representatives Secretary Hadi Abbas, to the need to speed up the establishment of more of a free economic zone for ongoing exchanges on the Iraqi border, in order to strengthen the Iraqi economy and diversification in the fiscal revenue of the state.
Abbas said, according to (agency news) that most Middle Eastern countries like Turkey and Iran and the UAE have recovered economically as a result of its establishment more than a free economic zone, conducting trade and benefit from the transit of goods through them, with no taxes or Comerk them.
He said Abbas should supplement the economy Iraqi and enhanced by speeding up the construction of more than a free economic zone on all the Iraqi border with either the Kuwaiti border in Basra, with Jordan, Syria or Iran or Turkey.
areas are free one of the pillars of the task upon which the national economy, especially in developing countries, and is defined as a for the provinces of small existing within the political boundaries of the country, but are outside the customs borders of that country, which means that everything that comes to and from the free zones is not subject to import and export controls and customs duty.
lies economic philosophy of free zones in the waiver of the State for some of the taxes due on any activity in order to the benefit the largest pan-economy of the country and adopted many of the world approach the establishment of free zones, especially in developing countries as to have the free areas of importance in the creation of sources of additional funding for the development and attract foreign investment in a selective manner and the transfer of modern technology and employment of local to eliminate unemployment.
has established the of the free zones of Iraq under the law No. (3) for the year (1998) for the purpose of keep up with global developments of increasing coherence in international economic relations in the framework of economic freedom and to isolate these developments for the march of the Iraqi economy, and privacy and advancing socio-economic development forward by attracting capital and foreign national and the establishment of industrial projects that use advanced technology, and there are currently three free zones belonging to the body are (Nineveh, Khor Al-Zubair, which is based).
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