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Tishwash:
For a strong economic partnership..Iraq intends to sign 11 memoranda of understanding with Spain
Minister of Transport Razzaq Al-Saadawi announced today, Monday, 11 memoranda of understanding that will be signed with Spain, while calling on Spanish companies to participate effectively in the next session of the Baghdad and Iraq Reconstruction Exhibition.
Al-Saadawi said in a speech during the launch of the 13th session of the Iraqi-Spanish Joint Committee, “It is appropriate for me to begin my speech with the major shift in Iraq’s new economic and trade policy to deepen the bonds of trade, economic and international cooperation to restore Iraq’s leading role as an important and major axis regionally and internationally.”
He added, “The Iraqi government, headed by Prime Minister Mohammed Shia al-Sudani, has begun working to adopt a policy of economic openness to the countries of the world, in addition to maximizing the role of the private sector in the economic development process,” indicating that “Iraq is witnessing a qualitative shift today through investing in its geographical location, as it will be a cornerstone for the sustainable economy through the land railway link project from Iraq through Turkey and from there to Europe, to transport goods and link the Middle East to the European continent.”
He continued: “Iraq has been linked with friendly Spain by historical relations dating back to the seventies of the last century, perfumed by the bilateral agreement for cooperation in various economic, commercial, scientific and technical fields, signed between the governments of the two countries in 1972, which had a great impact on the contribution of Spanish companies to many economic activities in Iraq, in implementation of the paragraphs that were agreed upon in the last minutes of the previous session held in Madrid in 2013.”
He pointed out that “through the continuation of the committee’s sessions, there will be a number of opportunities available to greatly enhance the level of bilateral cooperation in many commercial, economic and technical fields,” stressing “the need to enhance joint work to increase and diversify the volume of trade exchange between our two countries, as this cooperation will play a major role in strengthening the economy to serve both parties.”
He stated that “Iraq is looking forward to being a strong economic partner for Spain, in addition to the participation of Spanish companies in Iraqi infrastructure projects.”
He added: “Today we meet again in the meetings of the 13th session of the Iraqi-Spanish Joint Committee for Economic, Technical and Commercial Cooperation, and we hope that this meeting will have fruitful results. I would also like to take this opportunity to invite Spanish companies to participate in the reconstruction projects of Iraq, and take its place in the investment map launched by the National Investment Commission in Iraq and achieve effective participation in the next session of the Baghdad International Fair,” noting “the importance of the Spanish government’s support and assistance to complete all the obligations required for Iraq to obtain full membership in the World Trade Organization.”
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Al-Saadawi expressed his “deep thanks and gratitude to the Spanish government and people, and their efforts to develop economic and trade relations between Iraq and Spain,” expressing his hope that “these efforts will be successful for both sides to reach common goals that serve the interests of the two friendly countries, which the Spanish side requested to be signed during the Prime Minister’s visit to Spain.”
He pointed out that “the agreement included:
First: A memorandum of understanding proposed by the Federation of Iraqi Chambers of Commerce sent to the Spanish side.
Second: A memorandum of understanding proposed by the Iraqi Federation of Industries sent to the Spanish side.
Third: A memorandum of understanding proposed by the Iraqi Contractors Union sent to the Spanish side.
Fourth: A memorandum of understanding proposed by the Iraqi Ministry of Water Resources sent to the Spanish side.
Fifth: A memorandum of understanding proposed by the Iraqi Ministry of Youth and Sports, also sent to the Spanish side.
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Sixth: An executive program proposed by the Tourism Authority to activate the agreement signed between the two countries in 1979, also sent to the Spanish side.
He pointed out that “the position of the memoranda of understanding proposed by the Iraqi side, which the Spanish side requested to be followed up outside the scope of the joint committee, through the Ministry of Foreign Affairs with the relevant authorities, in coordination with their representatives directly, considering that they are outside the scope of economic and trade cooperation, and according to the opinion of the Spanish side, are:
1- A memorandum of understanding proposed by the Iraqi Ministry of Foreign Affairs sent to the Spanish side.
2- A memorandum of understanding proposed by the Iraqi Ministry of Education sent to the Spanish side.
3- A memorandum of understanding proposed by the Ministry of Higher Education and Scientific Research sent to the Spanish side.
4- A memorandum of understanding proposed by the Iraqi Ministry of Culture, also sent to the Spanish side.
5- A memorandum of understanding proposed by the Iraqi Ministry of Justice to the Spanish side. link
Rafidain Bank organizes a workshop on cyber security
Rafidain Bank organized a workshop on cyber security today, Sunday, in cooperation with the American University in Baghdad.
The bank said in a statement received by the Iraqi News Agency (INA): “Under the patronage of the General Manager of Rafidain Bank, Ali Karim, and in cooperation with the Continuing Education Center at the American University in Baghdad, the Bank’s Preparation and Training Division organized a workshop to train the bank’s employees on cybersecurity techniques.”
He added that “the workshop witnessed a high-level presence represented by the General Manager of Rafidain Bank, the Vice President of the American University, and the Director of the Continuing Education Center, in addition to a number of managers of the bank’s departments and divisions.
” He continued that “the workshop addressed the most prominent challenges facing the Iraqi banking system in the field of cybersecurity, and discussed how to address these challenges to ensure the protection of data and financial systems.”
In a meeting with officials at the American University, the General Manager of Rafidain Bank confirmed – according to the statement – that “the bank’s management vision is based on developing and empowering human resources in various specializations, with a focus on the field of cybersecurity.”
He stressed “the importance of intensifying efforts to train employees and applying quality standards to ensure the provision of accurate and fast banking services that meet customer needs and enhance their satisfaction and confidence.” link
Head of Parliament’s Finance Committee talks about “dollar smuggling” and “investor privileges” in Iraq
New bank after merging “Rafidain and Rashid”
The head of the Finance Committee in Parliament, Atwan Al-Atwani, admitted that “dollar smuggling” continues, while revealing privileges for investors in the real estate market in Iraq.
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Al-Atwani, a leader in the State of Law Coalition led by Nouri al-Maliki, spoke on Saturday, in a television talk show followed by the “Al-Jabal” platform, hesitantly about “forging import invoices,” but he confirmed, in contrast, the continuation of “dollar smuggling through the purchase of goods that are not audited at the ports.”
He said, “Dollar sales through the Central Bank, which are around $300 million per day, are not all returning to the country in the form of goods,” explaining that “there is tax evasion, a defect in the ports, and goods going to other countries.”
On the other hand, he denied his knowledge of the existence of “statistics on currency evasion”, while calling for monitoring the work of traders and investors who obtain dollars at the “official price”.
Last year, Prime Minister Mohammed al-Sudani revealed that currency smuggling abroad was done through “forged invoices, and the money was going out and being smuggled, and this is a reality, otherwise what were we importing for $300 million a day? ”
“Certainly this money was leaving Iraq and this has been a chronic problem for years,” he added.
The official exchange rate is 1,320 dinars to the dollar. But at the money changers, the dollar is worth 1,500 dinars.
Banking restructuring
Regarding the banking situation in Iraq, the head of the Finance Committee revealed the existence of an international company called “K2” that “tracks financial transfers” in Iraqi banks.
He said that there is a “decision to merge some banks, and a new bank will be formed through Rafidain and Rashid, and it will operate in a modern way . “
He revealed that Rafidain Bank has been subject to “sanctions since the time of the former regime.”
The United States banned some banks in Iraq from dealing in dollars, as the number of those banks reached 31 banks, due to suspicion of smuggling dollars to Iran and other countries.
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There are about 72 banks in Iraq, including 29 private Islamic banks, 25 private commercial bank-
Real estate market
Regarding the rise in real estate prices in Iraq, and Baghdad in particular, Al-Atwani attributed this to “the increase in demand in the housing market and the lack of supply,” stressing that “Iraq needs 3 million housing units.”
The head of the Finance Committee said, ” The residential complexes are not sufficient, and have solved only 20% of the housing crisis in Iraq.”
Al-Atwani revealed what he described as a “flaw in the investment laws,” stating that Iraq “gives free land to the investor, loans, and offers him customs exemptions, and we need someone who comes and has money.”
The head of the parliament’s finance committee also criticised “granting investors land in city centres”, but praised the government’s now building entire residential cities “outside the centres”.
Political opinions
In other political and economic issues, Al-Atwani said that “the Minister of Finance promised to provide 3.5 trillion dinars in 2024 through taxes,” while denying the existence of political wills preventing “interrogating the government’s financial officials.”
He also confirmed the decline in the presence of what are known as “economic offices” affiliated with the parties, despite his confirmation of the existence of “partisan interests” in the economic file.
Al-Atwani hoped that Iraq would not be exposed to “economic blows” due to the crisis in the region.
The leader of the State of Law considered that Iraq “is part of the axis of resistance, but it does not want war.”
He added, “Iraq has an Islamic commitment to countries that are being k----d,” stressing that “Iraq will defend itself by all means if it is subjected to strikes.” link
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Source: Dinar Recaps
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Tishwash:
EdgeNext and Commercis announce Partnership for Iraq Expansion
Cloud infrastructure and edge computing services company EdgeNext has announced a strategic partnership with Commercis, a UK-based connectivity, cybersecurity, and innovative IT solutions provider.
According to a press release, this collaboration will enable the expansion of EdgeNext’s cloud delivery services throughout Iraq, “bringing transformative improvements to the country’s digital landscape.“
It continues:
“This partnership will integrate Commercis’s regional infrastructures with EdgeNext’s global network of over 1,700 edge nodes. Together, the companies will deliver high-performance content delivery, cloud security, and low-latency services to enterprises and public sectors across Iraq.
“One of the key elements of this partnership is cloud gaming in Iraq, which will provide exclusive access to globally leading gaming platforms, enhancing the gaming experience for users in the region.
“The cloud gaming will be supported by EdgeNext’s gaming platform, with Commercis’s extensive regional infrastructure offering scalable rack space and reliable connectivity to key data centers across Iraq, ensuring seamless access to global gaming services.” link
Croatian PM: Iraq represents an important opportunity for development and investment in the energy and oil sector
Croatian Prime Minister Andrej Plenkovic confirmed today, Monday, that Iraq represents an important opportunity for development and investment in the energy and oil sector, while stressing the need to develop bilateral cooperation in the military, security and economic fields.
A statement by the Ministry of Foreign Affairs – received by the Iraqi News Agency (INA) – stated that “Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein met with the Prime Minister of the Republic of Croatia Andrej Plenkovic, in the presence of the Croatian Foreign Minister and the Croatian Ambassador to Iraq, where the meeting was devoted to discussing paths of cooperation and partnership between the two countries, in a way that enhances their efforts to achieve sustainable economic development and prosperity.”
The statement added that “the two sides discussed ways to enhance cooperation in the economic, investment and energy sectors, with a focus on the oil and gas sector, and stressed the importance of expanding cooperation in vital areas of common interest.”
Hussein pointed out – according to the statement – to “the need to enhance cooperation between the two countries in the field of combating t-------m, and reviewed the outcomes of his European tour. The meeting addressed coordination on unifying positions regarding the war in Gaza and Lebanon.”
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He stressed that “the continuation of the war in Gaza and Lebanon may lead to the outbreak of new conflicts in other regions,” stressing that “the only way to prevent this is to increase pressure on the Z-----t entity to cease fire.”
For his part, the Croatian Prime Minister expressed his “congratulations on the opening of the Iraqi embassy in Croatia,” stressing “the importance of its presence in deepening relations between the two countries at various levels.” He also stressed “the need to develop bilateral cooperation, especially in the military, security and economic fields,” noting that “Iraq represents an important opportunity for development and investment, especially in the energy, oil and gas sector.”
The statement concluded with the Foreign Minister expressing his “happiness to visit the friendly Republic of Croatia,” stressing “the strength of relations between the two countries and their mutual keenness to strengthen them in a way that serves their development goals and contributes to achieving the interests of their peoples.” link
Source: Dinar Recaps
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