Thread: Archive News - Iraqi Dinar Think Tank - 28/03/10 - 21/06/10

Of Iraq and the World Trade

Iraq enjoys international attention with a view to rebuild its economy and to integrate into international institutions and international institutions and the WTO, which apparently Iraq is moving steadily towards accession, but there are two currents.

I call that entry into the WTO without the loss of competitive advantage is clear to Iraq and would contribute to dumping the commodity and commercial sectors of the economy Sinhec Iraqi arising after the ashes of war and still suffering from several imbalances.

While calling for the current second that entry into the WTO will contribute to the development and modernization of the Iraqi economy and will work on two first internal by updating all sectors of the Iraqi economy based on the national effort and to take advantage of technology transfer and technology sectors of the Iraqi economy, either the external dimension, he will be countries and international companies Iraq today has a global safeguards for the protection of foreign investment we have seen many references on this subject by international companies. Required today is that returned to see Iraq over the issue and push the government's efforts to advance the negotiations in order to enter, especially since it one of the files important for the Iraqi government next must take determined effort, because there are countries in the Middle East, I waited ten years to get a visa and Iraq today in front of opportunity to either go up to join and take advantage of the output and incentives to join and employment strategy to address imbalances that plague the Iraqi economy or the first to succumb to the vision and therefore do not join and this will affect the Iraqi economy in the future.

Let us remember that the entry of any country to the World Trade Organization Aighei sovereignty of the state to manage the national economy and China is a good example of this. At the same time, as we pointed out has to be taken into account at the main pillars of the Iraqi economy quickly and perhaps serve as prelude to compete and help develop local production and utilization techniques of technology in various fields.

http://www.alsabaah.com/paper.php?so...age&sid=101620

Finance minister urges ambassadors to attract investments to Iraq

Finance Minister Baqer al-Zubaidi urged on Wednesday Iraqi ambassadors to Egypt, South Korea and Belarus to attract investments to Iraq, mainly in housing and energy sectors, according to a ministerial statement.

“This came during his meetings with ambassadors to Egypt, Nezar al-Khierallah, South Korea, Ismail Shafiq, and to Belarus, Haidar Masour. He urged them to encourage their countries’ companies to invest in the housing and energy sectors and to rehabilitate the infrastructure and to increase the trade volume between Iraq and these countries,” said the statement received by Aswat al-Iraq news agency.

http://en.aswataliraq.info/?p=130927

Mohieldin, Iraqi Officials Review Investment Relations

The Minister of Investment, Dr. Mahmoud Mohieldin, reviewed Egypt-Iraq investment ties in light of his last visit to Iraq in August of 2009; when His Excellency met with the Deputy Chairman of the Iraqi National Investment Commission (NIC), Salar Mohamed Amin, and NIC General Director, Diya'a Mohamed Ali today.

The meeting came at the end of the 2nd training course organized by the Egyptian Ministry of Investment for a group of government officials from Iraqi investment authorities.

In his August 2009 visit to Iraq, Dr. Mohieldin headed a delegation representing the Ministry of Foreign Affairs, the General Authority for Investment (GAFI) and over 80 chairs and representatives of Egyptian companies.

"The upcoming period will witness more Egyptian-Iraqi investment and technical cooperation, completing a recommended project to establish a tripartite free trade area between Egypt, Jordan and Iraq, enforcing a special program for public contracting and construction companies to join Iraqi firms' reconstruction projects, and means to contribute to Iraq's megaprojects through specialized Egyptian businesses," said Dr. Mohieldin.

The meeting was joined by GAFI Chairman, Osama Saleh, Deputy Chairman, Hassan Fahmi, and a number of the Ministry of Investment's international relations and investment officials.

The Ministry of Investment is carrying out an administrative development program to train approximately 600 Iraqis working in the sectors of investment, the stock market, insurance, financial services and asset management.

The trainees represent different Iraqi administrative levels, either at the central or the provincial level.

The program's first phase was completed in February 2010. A total of 56 people completed their training at the time; 38 from Iraqi investment agencies at the central and provincial levels, 10 from the Iraqi insurance sector and 8 from the Iraq Stock Exchange (ISX).

The entire Iraqi delegation was trained in management skills at the Leadership and Management Development Center. In addition, the trainees took courses at GAFI headquarters, the Egyptian Financial Supervisory Authority (EFSA) and the Egyptian Exchange (EGX).

The second phase, completed this month, trained 52 Iraqis from the NIC, Iraqi local investment bodies, insurance companies, and the Iraq Securities Commission.

http://www.investment.gov.eg/en/High...22-4-2010.aspx

Dangerous Games

By nearly all independent accounts, Iraq’s parliamentary elections last month were reasonably free and fair. Efforts now to manipulate the process — especially but not solely by Prime Minister Nuri Kamal al-Maliki — are an insult to Iraqi voters. They are also dangerous. The longer it takes to form a new government, and the more questions raised about the process, the easier it will be for extremists to exploit the uncertainty.

If this goes on for much longer, Iraq may not have a new government in place by the end of August when all American combat troops are due to withdraw. President Obama should stick to his deadline. Any sign of wavering will give Iraq’s leaders one more excuse not to take responsibility for their country.

Mr. Obama and his aides will have to use all of their waning influence to get the election back on track.

The March vote split largely along sectarian lines and confirmed the fierce struggle between a predominantly Shiite coalition led by Mr. Maliki and one led by Ayad Allawi, a former prime minister and secular Shiite who has become the standard-bearer for many Sunnis. Mr. Allawi’s coalition scored 91 seats in the new Parliament; Mr. Maliki, 89.

Mr. Maliki was not satisfied. He filed legal challenges claiming irregularities. And a special electoral court ordered the ballots recounted in Baghdad Province, where Mr. Maliki hopes to pick up additional Shiite votes. Kurdish parties, dissatisfied with their showing, also requested a recount in northern provinces, and the court is expected to rule shortly.

Recounts are a standard democratic tool, although we are not sure why one is needed. It is worrying. In the run-up to the election, Mr. Maliki proved far too adept at bullying Iraq’s fragile institutions.

The government’s election commission — which is overseeing the recount — has already raised serious doubts about its impartiality. Before the March vote, it disqualified scores of mostly Sunni candidates for alleged Baathist sympathies.

At the commission’s request, the special electoral court has also now disqualified one winning candidate on Mr. Allawi’s slate for the same reason. It is considering challenges to several more. Appeals are possible. Whether the balance between the two main slates changes or not, the maneuvering is certain to further erode Sunni confidence in government institutions.

We understand Mr. Allawi’s suspicions and frankly share them. But his call on Wednesday for a caretaker government, supervised by the international community, seems out of proportion to what has happened so far.

Mr. Allawi should be putting his energy into appealing the court’s disqualification of his candidate. And the Americans and the international community should be pressing the commission to conduct the recount in a completely impartial and transparent manner, with international observers, journalists and representatives of all of Iraq’s political parties fully monitoring the proceedings. The United Nations and the United States must be ready to speak out at any sign of fraud.

This process has already dragged on too long. Iraq has a lot of difficult issues to resolve. There is still no oil law. No plan for how to decide the future of the contested city of Kirkuk. It needs a new government that all Iraqis consider legitimate. If Mr. Maliki or any other politician allows their ambition to irreparably taint this election, the whole country will pay the price.

http://www.nytimes.com/2010/04/29/opinion/29thurs1.html

Wake Up: There's A Huge "Gold Rush" In Iraq And American Companies Are Making Bank

The success of the recent oil auctions in Iraq is creating a windfall for American oil services companies. Schlumberger (SLB), Baker Hughes (BHI), Weatherford (WFT), and Halliburton (HAL) have committed to drilling 2,500-3,000 new wells per year and building new pipeline and shipping terminal infrastructure that could make the country the world's largest oil exporter. The value of these contracts may reach a massive $60 billion over the next six years, and could generate $1 billion in new revenues for each company per year. Two offshore terminals are already under construction, and another two are on the drawing board. If successful, the project will boost the country's oil production from the current 2.5 million barrels a day to 12 million b/d by 2016. Iraq's oil production peaked at 3 million b/d in 1979, and then went to nearly zero after it invaded Iran.

I remember those days well, as I was issued a visa to accompany Saddam's troops to Tehran, only to see it cancelled when the Iranians were able to mount a counter offensive. I still have the dessert camos and telephoto lenses need to cover the desert war, although the pants, regrettably, no longer fit. Iraq's oil industry never recovered. UN sanctions limited the regime to minimal "official" exports that covered humanitarian imports like baby food and d.rugs. Tanker trucks smuggled out through Jordan what they could, with the proceeds going directly to Saddam's family. When the US invaded, bails of hundred dollar bills were found stashed in private homes, the proceeds of these black market deals.

American oil engineers were shocked by the poor state of Iraq's energy infrastructure after 40 years of neglect. It all has to be rebuilt from scratch. If the new Iraqi government can provide the necessary infrastructure, and stabilize the political and security environment, it will become one of the largest changes to the landscape for international trade in decades. Those are all very big "if's". It will dump another Saudi Arabia's worth of crude on the market.

It will also go a long ways towards meeting China's insatiable demand for oil, and put a long term cap on prices. Of course, this is the scenario that antiwar activists predicted eight years ago, but no one else, especially the Bush administration, thought it would take so long to play out. This is so important that I can't believe no one else is talking about it.

http://www.businessinsider.com/iraq-...ld-rush-2010-4

CBI dollar sales rise to $141m on Thursday

The Central Bank of Iraq’s (CBI) dollar sales went up to reach $141.795 million in its daily auction on Thursday, compared to $85.780 in the previous session.“The demand hit $5.670 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $136.125 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 13 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=130951

13 licenses for investment projects in Basra in one year

The Basra Investment Commission (BIC) has given 13 investment licenses for different projects in Basra within one year, deputy chairman of the BIC said on Thursday.

“The licenses covered different sectors,” Jalal Taama al-Nouri told Aswat al-Iraq news agency, pointing out that the first license was given in April 2009.

“The projects approved by the commission included housing, health, construction and tourism sectors,” he explained.

“There are several projects under study by special committees,” he added.

http://en.aswataliraq.info/?p=130962

Government amends law to encourage investments in refining crude oil

The Council of Ministers approved on Thursday the first amendment of the special investment draft law in refining crude oil to encourage the Iraqi and foreign private sector to invest in this field, according to official spokesman for the Iraqi government.

“The council decided to approve the draft law of the first amendment of the special investment in refining the crude oil law number 64 of 2007,” the spokesman said in a statement received by Aswat al-Iraq news agency.

“The decision comes within practical steps taken by the government to encourage investments in this vital field to improve it and to develop the oil production and its derivatives for the good of the Iraqi citizens” the statement explained.

http://en.aswataliraq.info/?p=130958

Jamal Watermelon: UN intervention is necessary to prevent the collapse of the political process in the country

A member of the Iraqi List, Gamal Abdel Hadi melon "The intervention of the United Nations is essential at the current stage to prevent the collapse of the political process in Iraq against the background of recent decisions of the Commission on accountability and justice."

The head of the Iraqi List, Iyad Allawi, had asked the Secretary-General of the Arab League to intervene with the United Nations to help Iraq overcome its ordeal of political and implementation of election results.

The melon in contact with the agency, the independent press (Iba), "The responsibility of the United Nations towards Iraq is political and moral for the survival of Iraq so far under Chapter VII of the Charter of the United Nations."

Was considered by some political figures and forces the internationalization of the issue of elections and the ensuing consequences as affecting the national sovereignty.

He melon "The body of accountability and justice have gone too far in its work and decisions, and without any condition set for this work and its decisions must be before the elections," stressing that "the exclusion of the winners of its resolutions mean a political coup and the destruction of the political process."

And accused the accountability and justice Electoral Commission not to implement its own decisions P.almhmolin exclusion before the election.

http://www.ipairaq.com/index.php?nam...itics&id=24496

Rashid al-Azzawi: Large fraud in the election may nullified

According to a member Council of Representatives outgoing Rashid al-Azzawi, the Iraqi Accordance bloc "The large and fraud of the election period last month could invalidate the electoral process."

The judiciary has issued a decision of the Office of Alantkhabatbaadp counting operations in Baghdad, which will begin by the Electoral Commission on Monday.

He said al-Azzawi in contact with the agency, the independent press (Iba), "The massive rigging which took place in some provinces and in particular, Diyala, Mosul, Anbar and more than two-thirds may invalidate the results and thus heroes the entire electoral process."

And considered some of the blocs and political figures to prove the breach and fraud in Baghdad, may open for re-counting of some of the provinces.

The Al-Azzawi, "We are trying to put right the matter, though cases of a reflection of the breach Aoaltazoer wide," calling on the political blocs to accept the results despite the objections to the final results declared for election. "

The Iraqi Accord Front won 6 seats in the House of Representatives next, amounting to 325 seats.

http://www.ipairaq.com/index.php?nam...itics&id=24482