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Erbil pulls the rug out from Baghdad and become the main center for the gold trade in Iraq
On: Tuesday 01/29/2013 08:22 pm
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Erbil - follow-up
confirmed Association Goldsmiths in the Kurdistan region, to Erbil, turned to the center of the Chairman of the gold trade in Iraq, while showed that about 56 tonnes of the yellow metal entered the city through the airport during 2012 the past, as well as other quantities which supplied overland from inside Iraq, revealed a tendency Arab companies and European specialist trade gold and diamonds to enter the regional markets during the next term. said Assembly President, Qarman essence, "The stable situation in Erbil Compared with Baghdad and facilities offered by the Government of the Territory revived gold trade in the city about a remarkable" , pointing out that there was a "day in Erbil 25 companies private trade gold, as well as branches of the three Turkish companies specialized in this field." and added the essence, that "information available to the Assembly from a quality control confirms that about 56 tonnes of gold reached the airport Erbil International from abroad, "noting that those" quantities used in manufacturing jewelery in parts of Iraq. "The President of the Assembly," Baghdad was before the war in 2003, is the center of gold President in Iraq, and was goldsmiths go to to buy what they need, "he continued" either today became goldsmiths come to Erbil from Baghdad and Basra to buy gold, especially as companies trade gold in here much more than those in the capital if they had remained working in this area because of the difficult security situation there. "said the essence, that" the Kurdistan region in general and Erbil in particular were able to attract a lot of workers in the gold trade and drafted from regions other Iraqi, like Sabean known work in this area ", pointing out that there are" many foreign companies that took flocking to the region to open branches, and including three Turkish companies, For example a few. "The chairman of the Association of Goldsmiths in the Kurdistan region, for" the presence of UAE companies willing opening branches in Arbil, "expected to" witness the next term entry diamond trade to the region after it began European companies move in this direction in the hope opening branches in Erbil. "and attributed the essence of growth of gold trade in Erbil, to" cause additive is high level of living of the population and improve their purchasing power, "pointing out that" women no longer want to wear with gold ornaments for a long time and صرن seeking new models in this area which leads us to import new models every two months. "The statistics department of quality control for gold jewelry in the Kurdistan region, said the end of August of last year, the markets Kurdistan imported during the first seven months of 2012 some 34 tonnes of gold, while it had imported during in 2011 last about 17 tons of gold and more than five tons of silver only, which indicates increasing demand. also revealed the International Monetary Fund, on Sunday, the 27 of January 2013 the current, for reducing Iraq treasury of gold by a quarter, up to 29.9 tonnes during the past November 2012, after he filed to four times higher for the first time in years during September and October two. The Fund in its monthly report, a copy of which, that the balance of Iraq of gold located in the Central Bank of Iraq, dropped by to 29.9 tons the end of November last year after he was beginning the same month 39.6 tons. Was the monthly report of the International Monetary Fund issued on 21 December I 2012 the past, reported that Iraq's reserves of gold, rose to four times higher to reach 31.07 tonnes in the three months, the "biggest" step for the country for years. explained the Fund in the previous statement, that Iraq in the first change to the reserves for years, said what equivalent 23.9 tonnes of gold in August 2012 the past, bringing the total weight to 29.7 tons, followed by an increase of 2.3 tons in September to reach its assets to 32.09 tonnes, then got dropped in October worth 1.02 tons, up the total weight to 31.07 tons. The announcement low gold reserves Iraq be "expected", especially with the rise in Iraq reserves of hard currency during the past months, which amounted last November, about $ 70 billion, according to the Central Bank of Iraq, the highest number achieved by Iraq in its history.
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