Category: Iraq News



Iraq, August 28, 2014
Gas Oil Law
Nouri al-Maliki and the Islamic Dawa Party took office in Iraq eight years ago. Oil revenues topped $41 billion in 2007 and rose to nearly $86 billion in 2013. Oil production ranged between 2 million barrels per day at the beginning of that period to nearly 3 million barrels at its end.
Maliki’s government made an important decision to call on international oil companies to invest in Iraq to increase [oil] field productivity. Despite the need for modern technology and management, these two factors were not the main reasons behind the decision. Instead, it was the government’s urgent need for additional funds, given the global financial crisis and the declining oil prices at the end of the last decade.
Maliki’s rule will be known as the “post-Mosul ravage” in Iraq’s history. He ended his term by failing to repel the “neo-Nazi” invasion of Mosul and the Ninevah province, where mass murders are being committed against Christians and Yazidis. Militias have displaced the region’s peaceful population and confiscated their homes after painting on them a letter identifying their religion, just as the Nazis did to European Jews during World War II.
Maliki’s rule has ended and the Iraqis still remember what they learned in history books about the Mongol invasion of Baghdad — the burning of libraries and bloodshed, the capturing and selling of women in the slave markets, just as the Islamic State (IS) did in Mosul. History will not forget that the Iraqi army did not defend Mosul’s population, nor will it forget the rampant corruption, as the robbery and loss of billions of dollars has become normal.Maliki has threatened the Iraqi people with opening “the gates of hell” if he is removed from power. It is as if this post is reserved for him and his heirs eternally. Since oil is the mainstay of the Iraqi economy, the first thing that comes to mind is the absence of an oil and gas law in Iraq since 2003, which is normal in light of political differences and the absence of a new social contract. Is Iraq a federal state as stipulated in the constitution or a centralized state? Is there any political will for real coexistence — with middle-ground solutions and understandings that take into account the views of other parties in the state — or is there a tendency for some, especially the Kurds, towards independence from Iraq?

The Iraqi people have not given their final answers to these questions, despite the 2005 constitutional referendum. The Iraqi oil industry has suffered from the absence of a social contract between political leaders. Although oil revenues reached $10 billion a year, it is not enough to build a stable modern state in the absence of an understanding among officials on whether the state is centralized or federal. With no clear contract, oil officials will not be able to rationally manage their sector without this understanding between politicians and their parties.
In fact, the disputes that have prevailed over the country’s politics for the past years — adding Iraq to the group of failed states — resulted from delays caused by a fruitless political polemic. The debate has prevented the parliament, since 2007, from passing the oil and gas law, which attempted to resolve the distribution of privileges and responsibilities of the sector between the federal Ministry of Oil in Baghdad and the authorities in the provinces and regions. The dispute over oil also resulted in the possible division of the country, the exploitation of its weaknesses and its invasion by terrorists.
The draft law is clear. It confirmed that the ownership of oil and gas was for the whole Iraqi people in all regions and provinces.
It also suggested forming a federal council for oil and gas that included officials from the federal government and the provinces and regions, and made the necessary state-level, oil-related decisions through coordination and negotiations between the federal oil ministry and the provinces.
In many of its provisions, the draft reiterates tasking federal authorities with the planning and implementation of oil production in the country, on condition of negotiating and coordinating with the different sides. Such responsibility imposes the presence of a responsible and open government that negotiates with the parties and transfers to them the allocated funds on time, without monopolizing them in Baghdad.
This also means that the parties should specify exactly what they want from Iraq. Do they want to exploit Iraq’s natural wealth, then leave? If this threat resurfaces every time the dispute escalates between Baghdad and Erbil, it will be hard to develop the Iraqi oil industry and stop threats from reaching other regions. Conflicts and perhaps international tribunals would be the only alternatives in such a case.
Iraq must learn from two experiences. The first is the experience of the Council for Reconstruction in the 1950s. At that time, oil revenue was allocated to well-studied reconstruction and infrastructure projects instead of salaries of employees and pensions. Furthermore, [oil revenue] failed to provide electricity and water for citizens, as is currently the case.
Second, Iraq is a country that is almost closed geographically and needs a foreign policy that shields it from wars and conflicts with neighboring regions. The country cannot bear the burden of halting its oil exports for long.
It is understandable that disputes regarding the oil law happen, given the conflicts of interest. However, it is inexcusable to keep inviting global oil companies and increasing production in the absence of this law. This means that Iraq will face many problems in the foreseeable future, whether internally, like the division of the country, or legally due to disputes with the oil companies. The absence of the oil law is as serious as the dissolution of the Iraqi army. They are both pillars of the country, albeit each with a different role.
If the Iraqi governments keep bickering over the same issues and following the policies that have been around since 2003, the only solution would be to change the regime rather than these policies. The doors of hell might then break loose, and this is what Maliki has always feared.
(iraqdirectory)
JP’s Investment Round Table – https://www.facebook.com/groups/413785878651909/
HCL Oil and Gas Law.
HYDROCARBON LAW APPROVAL IS KEY FOR THE FUTURE OF IRAQ.. Bluewaters2u
#Bluewaters2u  #HCLOilandGasLaw #JP’sInvestmentRoundTable #Iraq #BaghdadandErbil

Iraq’s CBI IQD Currency Revalue scenario.

A shared thought to entertain..jp

USD 100 dollar Bills

THIS IS JUST MY OPINION OF WHAT IRAQ COULD DO…………(Brewbaby from DS)

I have been sitting here reading everything everyday that Iraq has put out in the media: i.e. the Dinar will RV, it won’t RV, they can cover by 2.5 times the nominal value and they can’t cover it, the political politics say it can’t happen the Parliamentary Finance says it has to happen, yada, yada, yada. Well, I put my thinking cap on and came up with a possible scenario of how it could happen, and here it is………..

We all know that Iraq has a history of never paying their bills, of always saying they are broke, of never making a decision until it is almost to late, and always looking for someone else to save the day for them. The IMF has been in Iraq since the May meeting going over their books before Iraq goes out on their own and screws things up, and also in giving CBI the opportunity to come up with a rate that is feasible to their situation (I think they already have one). The (4) banks that just opened up in Iraq if you think about it have covered the bulk of the Paris Club countries, BOA – USA, CITIGROUP – Middle East, JPMORGAN CHASE – Europe, and Standard for China and Russia. These banks are not in Iraq to twiddle their thumbs. They would not have opened up unless something was definitely fixing to happen and not in 6 months, they invest money to make money they need to get an ROI (return on investment) like yesterday. 
Oil Plant_17-2817

This is where my thinking came in. CBI has 76-80 Billion in their coffers, and 30 Tons of Gold which at today’s price is another 1.25 Billion. The IMF told them they only had to back 15% of an RV instead of the normal 25%, (again someone saving their bacon). So, if 33 Trillion Dinar is 28 Billion in USD at .86 per Dinar, then 2.5 times that would be $2.15 per Dinar or 70 Billion, they are covered with 78 to 80 Billion.

Now, before you go getting excited, my theory is Iraq will not pay out 1 dime of anything they have to anyone or any country. The IMF and the Parliamentary Finance Committee is negotiating with every country that Iraq owes money to by coming out at a decent rate of let’s say $2.15 per Dinar and what those countries have in Dinar in their own coffers will cover the debt, or they will give Iraq immunity from the remainder of their debt to them. CBI and the Gold reserves, will cover the RV, and once again nothing leaves Iraq. The people will get a one to one in country so they know their USD is now equal to their Dinar (or vice versa) and they will get their new Dinars. They will be very happy, their ppp will increase so they can buy better goods from outside the country, and not have to accept the junk they have been getting from China.

So, to sum it up, between the CBI Reserves and the GOLD, the RV is covered at $2.15, the Countries that Iraq owes will get paid or accept the rate as their payment, because it increases their currency assets for their countries, the Paris Club banks are involved in the exchange inside Iraq so they will increase their currency assets, the protection can be lifted, and their 800 million in frozen assets stays intact, CITIgroup will collect Dinar and split it up between the Middle East countries for their currency assets, Kuwait will benefit from that and still get the balance owed them from the DFI for the 11 Billion, we will get ours, and the US will get their taxes from us and increase their currency assets thus decreasing our debts.

All of this and not one dime leaves the Country of Iraq. Perfect scenario for them, and they actually pay back their debts to everyone and they gain the 800 million in frozen assets, unprotected.

PLEASE, PLEASE REMEMBER THAT THIS IS STRICTLY MY OWN PERSONAL OPINION OF HOW THIS COULD TRANSPIRE……..DO NOT TAKE IT OUT OF CONTEXT. THANK YOU!

Sources: Sunny’s shared post from “The Right Choice” facebook IQD group 

Blue’s added Thoughts: Interesting post for sure from Sunny and from Brewbaby over at DS..I can rap my thoughts around this with a few minor adjustments but overall very well thought out..and not unrealistic at all..

#Iraq, #CBI, #IQD, #Currency, #IQDRV, #Bluewaters2u

Iraq’s CBI IQD Currency Revalue Scenario July 2013!


Television Interview with Former Iraq CBI Governor Dr Shabibi.

http://www.youtube.com/watch?v=9P6u78NhJBE&feature=player_embedded

Thanks to Sunny Bedi for post:

Here’s what was said in the video with Shabibi:
.
The reporter asked him about the current problems with the CBI, and Shabibi responded with a defensive answer of all they have contributed and done to improve the economy in Iraq. He said they contributed since 2003 to give the CBI a good global image/reputation. He said they are proud of what they have accomplished and do not need to defend themselves. 

He thanked all that have stood by their side in the face of the injustice and unfairness they have faced. He alluded to things that were said are not true, and that the important thing is that the CBI returns to its formal role. He said the removal of Chapter 7 sanctions are a big victory for Iraq. From an economic standpoint, they are able to enter the economic world without restrictions. There is now a need to develop themselves to be equal to the rest of the world, to take full advantage of the opportunities, and to be successful in entering the economic world. 

He said there are some who said there was no true progress on the part of the CBI. But they had introduced the new currency (post Saddam). There are those who said it was the Americans who did this, but the national staff played a large part in this, working with the Americans to distribute it. 

Because of this there was large progress. They had previous inflation of about 68% when they started, but brought it all the way down to 5.2%. This was a result of the monetary policy they introduced whose goal was to reduce inflation and they achieved that goal. He said they greatly reduced inflation and worked with his colleagues on a policy which raised the value of the dinar (which was a part of fighting inflation) from 2,014 in 2002 to 1,169 in 2012. They had programs like the Reserves, Paris Club, etc.

The reporter asked about the CBI issue, if it is political or truly a matter of money laundering and wasteful spending, fraud, etc. He clarified that the role of the CBI is in trading currency, a direct process at a certain rate. He said if you want to see if there is corruption in the CBI, look to and concentrate on the auctions. How the dinar comes in, how it is exchanged to the dollar. Some employees may give better rates to certain banks. When it comes to the purchase, this is not the role of the CBI. This goes to the trade banks. Look at how some money is exchanged in other countries like Dubai for example.

The reporter referred to a statement by Turki, in which he said any amount of over 100 Million US dollars daily at the auctions is money laundering or fraud, but that the CBI report shows that there are some days where there is over 200 Million. Shabibi said that this requires a study. The issue is that the CBI is to preserve the stability of the price of the dinar, and has to fulfill whatever demand there is, taking into consideration what is in the reserve. The issue is the auctions. To solve problems, you also need to develop the economy. 

The reporter asked him about the resignation of Al-Suhail, and his accusations against the CBI. He said that that was unfortunate. He said Al-Suhail concentrated on issues and accusations against the CBI, accused the CBI of money laundering, but never showed them the cases pertaining to that. He said, his colleagues, who are honorable, but are now in prison, is that they were trying to make sure there were dollars behind the dinar and vice versa.

The reporter asked Shabibi about Khalid Shiltar, whom Shabibi accepted to be the head of the money laundering offices, even though he wasn’t qualified. Shabibi said that Shiltar came to the CBI, with a knowledge of the English language. Shabibi says he himself is weak in the English language. He said Shiltar came to the bank, but didn’t give us the truth or reveal the money laundering. The money goes to the trade centers, but go to the money laundering offices first. This is a separate committee, and they weren’t aware of all of this. 

The reporter said that Shiltar’s language of English did not qualify him for the position. He asked if Shabibi was under any kind of pressure from others to accept him. Shabibi said there was no pressure. He even knew some of his family. The truth is that he formed connections with some people who went against the CBI.

The reporter asked him about allegations from Miss. Fawzia Kathum that there was pressure on Shabibi to give amounts of money from the reserves to buy an electric plant which does not work, and to give money from the reserves to the government, and that Shabibi did not comply and that was the problem. Shabibi said this is another issue. This goes against the CBI laws. It is against the law to give funds from the reserve to anything but issues for the stability of the exchange price. That is why the issues of the auctions, taking dinar from the market, reduces pressure on prices and reduces inflation. The monetary policy is not a trade policy.

The reporter asked him who specifically asked Shabibi to take money from the reserves. He didn’t answer but said from the government in general. He said he can’t say who specifically. He said the government wanted 5 Billion from the reserves and the CBI refused. He said even Parliament helped them with that issue and it was lifted. He said if they had changed the law, or if it was in the process of being changed, it would be a different story.

The reporter asked about the reserves, that it is said they had 10 tons of gold. Shabibi said this was published, and with the Treasury. He said, when he left there was 67 or 68 Billion of combined dollars, sterling pound, euro and gold. 

The reporter asked how much in gold. Shabibi said about 32 tons. They went from 5 tons to 32 tons. He said when they decided to buy gold, it was about 1-2 months before he left. He said they did this because it is the most reliable and so there is more confidence.

The reporter asked if the local banks have an affect on the CBI. Shabibi said he did not know. But that the local banks require large reforms and development, to go to free trade, and they need help from the government by the government giving the local banks business. But that the local banks had work to do, increase their capital, not rely on auctions, and need to find loans even if it is with risk.

The reporter asked about the lifting of Chapter 7 sanctions, and if this posed any danger to Iraqi money. Shabibi said that this opened lots of opportunities. But is they have loans, the world is watching them. They (Iraq) have to pay their debts and fulfill their obligations. The CBI is separate.

The reporter then asked if he warned against anything. Shabibi said it is important to be in good standing members globally. They need to fulfill their obligations, specifically those agreed to by the Paris Club. He said he is worried that there are some people or ideas that will go in the direction against the Paris Club, and that they would be revised again by the Paris Club, and will not get the same conditions as in 2004.

The reporter asked what he meant by that. He explained that under the conditions of the Paris Club, they got a reduction or forgiveness of 80% in the loans. This is the best agreement in the world that can be given to an average income country. After the great increase in the Iraqi money and oil, if there is a problem with the Paris Club, they will definitely not get the same conditions. There will be those who will think they will have to pay more than the 20%.

Sources: Sunny Bedi at “The Right Choice”, Iraq Information News and Discussion site https://www.facebook.com/groups/therightchoice/ )

Going Global East meets West Blogspot – Link below

http://goingglobaleastmeetswest.blogspot.com/2013/07/translation-by-abby-news-video.html

and http://www.youtube.com/watch?v=9P6u78NhJBE&feature=player_embedded

#CBI, #Shabibi, #IRAQ, #IQD, #Dinar

Television Interview with Former Iraq CBI Governor Dr Shabibi


Special Note:

I shared a Post here from a friend I thought was worth sharing and to open up some interesting discussions on it as well…Not promoting his book but nor am I discounting it either…but the post itself from Facebook is worth a good look at..jp

The Iraq Dinar, where’s the RV?

 This is a commentary using known Fiscal Metrics to evaluate if the Iraqi Dinar Currency could somehow instantly increase in valuation to between $1 – $3 + US and if so, would it be logically and fiscally sound if that were to occur.
The Iraqi Dinar has always been, a currency manipulated through a  “MANAGED FLOAT” not through a “FREE MARKET TRADED FLOAT” Traded on the FOREX. Pre Saddam, Saddam and Post Saddam…the Iraq Dinar has always been a PROGRAMMED RATE that is NOT reflected by the REAL WORLD WORTH or “VALUE” of FOREX Currency Traders that use the FREE MARKET to set the REAL WORTH of a currency based on REAL WORTH Metrics…so, the Iraqi Dinar is not now, nor, do I think ever will be based on REAL WORTH…because, if the IQD were ever to be pegged to a “FREE FLOAT” (Which I do not think it will be) but, using it as an example, then, FOREX Traders would value the IQD in real worth, somewhere between 1 cent to about 10 cents US, based on REAL WORLD VALUATIONS (See Below)…However, I do not think the IQD will be FREE FLOATED, based on HISTORY, that was just to give a Metric based on REAL WORLD VALUE. I see the CBI using a continued MANAGED FLOAT approach to slowly continue the Rate down to 1,000 Dinar per dollar for several months and then, over a Year, continuing to gradually and incrementally add value to the IQD, 100 Dinars every several months, until it is worth a penny in about 18 months or by January 2015, MANAGING or LOCKING it there for a Year or Two and then raising it to 5 cent to 10 cent in a couple years by 2017, and then, slowly and gradually taking it to par with the US Dollar by 2030.

Here are some Metrics to consider…

IRAQ                             vs                              USA

GDP
$110 BILLION                                                $16 TRILLION

 

So, the US Economy is 150 Times the size of Iraq and yet our US Dollar has never been worth $3 +

DEBT to INCOME Ratio
Iraq’s external debt was between $130 to $140 billion in 2003, much of which was settled and forgiven through the 2004 Paris Club agreement, which would have equated to a 1:1.25 Debt to Income Ratio for Iraq, meaning they originally owed $1.25 for every Dollar they generated in GDP…

The USA Debt to income Ration is a mere 1:1. meaning, for every $1 the US owes, the US generates $1 in GDP. Putting that further into perspective, using Blue Chip Publicly Traded S&P 500 Company Debt to Income Ratio.
•IBM— 2:1
•Dupont — 3:1
•United Technologies — 3:1
•Boeing — 4:1
•Caterpillar — 14:1
And get this…
•JP Morgan Chase has a whopping Debt to Income Ratio of 50:1
In other words, IBM borrows twice as much money as it earns annually. Boeing borrows four times more than it earns. And JP Morgan Chase, clearly not too big to borrow, borrows 50 times more than it earns — getting $50 from lenders for every $1 it makes.

Clearly, the USA is NOT in a Fiscal Crisis compared to the Best Blue Chip Companies in America.

Nor, is America or the US Dollar “Doomed” for Bankruptcy, considering our current Debt to Income Ratio is multiple times less then the best Blue Chip Companies in America and far less then the Debt to Income Ratio of the Average US Citizens personal Debt of around 3:1…most families grow through strategic debt, including assuming decades-long mortgages, car payments and student loans on par at around a Debt to Income Ratio of 3:1.

Borrowing today to fund the innovation of tomorrow stimulates our economy and generates revenue growth that pays back the debt. That’s why emerging economies such as Singapore — which is still riding high despite the worldwide economic downturn — carry a Debt to Income that looks more like DuPonts 3:1, borrowing money to keep its economy innovating and growing.

The US has the potential to increase our GDP 20 Times, or, 2000%, just by developing our proven Oil Field Reserves in the Bakkan Region of North Dakota, Montana and Colorado

Recoverable Oil
According to US Energy Information Administration the US has 10 Times the Proven Oil reserves than Iraq has:

Iraq                                                                  USA
300 BILLION                                       3 TRILLION BARRELS
$25 TRILLION                                            $250 TRILLION

 

So, the US has Ten Times as much Oil Wealth than Iraq, and yet, somehow, speculators in the IQD seem to “believe” that the IQD should be “on par” with the almighty US Dollar? Some IQD speculators even believe it will instantly one day RV’d to $3 +…this isn’t logical, nor practical, based on REAL WORLD Metrics.

Population
Iraq                                                              USA
30 Million Citizens                                 300 Million Citizens

So, the US has Ten Times as many workers as Iraq, with Ten times the output and Ten Times as many Business Men and an Intellectual Property Incubators that out number Iraq ten fold, and yet, our Dollar has never been worth $3 +, based on this REAL WORLD metric, it isn’t logical the IQD could even be worth 10 cents US. Yet, there are those who base their IQD Speculative Investment logic on the Historical MANAGED PROGRAM RATE that never has reflected REAL WORLD WORTH or VALUATION that can be quantitatively measured against a STANDARD!

Roads
Iraq                                                                USA
50,000 Miles                                          4 Million Miles

RAIL Roads
Iraq                                                                 USA
1,200 Miles                                                233,000 Miles

Pipelines
Iraq                                                                  USA
2,000 Miles                                              2 . 5 MILLION

Electrical Power Generation
Iraq                                                                  USA
14 Gigawatts                                               1,000 Gigawatts TOTAL
60 Gigawatts WIND
6 Gigawatts Solar PV
100 Gigawatts Hydro Power
4 Gigawatts Geothermal
6 Gigawatts Nuclear

Sea Ports
Iraq                                                                  USA
6                                                                   360

Universities
Iraq                                                                  USA
30                                                                   300 +

In conclusion, based on the above and many other metrics, it is my opinion that the Iraqi Dinar is not now, nor, do I think, ever will be based on REAL WORTH…because, if the IQD were ever to be pegged to a “FREE FLOAT” (Which I do not think it will be) but, using it as an example, then, FOREX Traders would value the IQD in real worth, somewhere between 1 cent to about 10 cents US, based on REAL WORLD VALUATIONS (See Below)…However, I do not think the IQD will be FREE FLOATED, based on HISTORY, that was just to give a Metric based on REAL WORLD VALUE. I see the CBI using a continued MANAGED FLOAT approach to slowly continue the Rate down to 1,000 Dinar per dollar for several months and then, over an 18 month period, continuing to gradually and incrementally add value to the IQD, 100 Dinars every several months, until it is worth a penny in about 18 months or by January 2015, MANAGING or LOCKING it there for a Year or Two and then raising it to 5 cent to 10 cent in a couple years by 2017, and then, slowly and gradually taking it to par with the US Dollar by 2030.

Many IQD speculators are counting on and HOPING the IQD will soon RV or RI and they “Believe” it will do so in the $1 – $3 Range, however, this is not logical based on my premise as outlined above, nor is it economically viable for Iraq to do so, because it would end up costing the Iraqi Central Bank in the general ball park of between $3 Trillion to $9 Trillion to CASH OUT the IQD inside Iraq in the hands of the Iraqi population.

 

The total combined value when converted to USD of the top 38 countries that make up 89.6% of the world’s GDP and 65.1% of the world’s population can total $60 . 2 Trillion USD total world wide. How
can Iraq RV their 30 trillion dinar to equal 30 trillion US dollars, a 1 to 1 ratio?

The answer is of course that Iraq can not and WILL NOT do it. There are 30 Trillion Dinars Total (approximately) Even if their money supply was only 1/10th, at say, 3 Trillion Dinar, they still could not RV 1 IQD to 1 USD. They only have $60 Billion in USD or so in reserves and their GDP is $110 Billion. Even if those figures are off by 2x, it still doesn’t matter. Most countries in the world have an M2 as a percentage of GDP that is below 100% For a few its larger, but no county has an M2 that is remotely close to ~50,000% of GDP which would be the result of a 1:1 RV ( M2 is 72B USD and GDP is 110, so M2 is ~50% of GDP, x 1000 is 50,000%). These are all fundamental metrics to how an economy works.

There are much better Investments out there in the Expanding Global Economy that people can Capitalize on. Below, are two Links you can check out that detail these Investments.

http://www.blogtalkradio.com/kenhoward/2013/05/22/green-roi

http://www.buyacopynow.com/

Best Regards!

Ken Howard

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Iraq Commerce Meeting Discussed WTO Issues:

Members Agree Iraq Needs WTO Membership; But Laws Need Amended

Chamber of Commerce Forum to discuss

Symposium hosted by the Chamber of Commerce Forum to discuss possibility of joining Alaariq to the World Trade Organization.

Specialists emphasize the need for Iraq to join the World Trade Organization and businessmen: will not join even after fifty years if laws do not change

Confirmed the deal with matters relating trade in the province of Diwaniyah on Monday, “Iraq’s need” to join the World Trade Organization, while confirmed by the Ministry of Commerce said joining the organization “will move the Iraqi economy,” “ruled out” businessmen the possibility of it on the ground until “after fifty years, “and attributed the cause to” the absence of legislation “in a position to put Iraq into the international system, demanding the cancellation of” the Ministry of Commerce. “

The official said the information in the Department of the World Trade Organization, Ministry of Commerce Luna Fred Jacob said in an interview to (range Press), on the sidelines of Awareness Seminar held by the Chamber of Commerce of Diwaniya, “The steps to join the World Trade Organization, to take a way a careful and thoughtful, started sending the initial file display goods to the organization, “and showed that” We are working to engage in a third round of bargaining after receiving several observations about the previous two rounds and the supply of goods to reach the possibility of residence. “

She said Jacob that “the Department of the World Trade Organization in the Department of Foreign Economic Relations Ministry of Commerce of Iraq, is expected through these steps not to Iraq’s accession to the World Trade Organization soon,” afterthought “but seeks to complete the steps in a measured way,” and stressed that “accession will help Iraq largely through appropriate legislation and laws in line with international laws and legislations. “

For his part, the head of the Chamber of Commerce of Diwaniyah Mahmoud Laithi in an interview to (range Press), said that “several seminars and workshops held by the Ministry of Commerce in cooperation with the chambers of commerce in the provinces, seeking to discuss the possibility of Iraq’s entry into the WTO, for the advancement of the national economy.”

He added that “the Iraqi legislature from which to develop appropriate laws that are consistent with international legislation,” and explained that “Iraq’s accession will help in improving the economic level and increase employment and the possibility of competition Iraqi industries to global products.”

As head of the Federation of Iraqi businessmen in Diwaniyah, (180 km) south of Baghdad, cream phone in an interview to (range Press) that “Iraq will reap significant benefits in the event of joining the World Trade Organization for global,” and added, “But I’m sure that this will not happen before fifty years. “

He pointed out that “Iraq is stalled in legislation and implementation, the organization represents one of the largest portals in the economic world, we are not open to ourselves, we do not have any intellectual base or the economic system or a bank or industrial success.”

Abizaid as saying that “Iraq did not keep his place economic but Pat decline quickly,” pointing out that “This makes joining impossible, and we need to think reducing the administrative structure late.”

Phone stressed “the need to get rid of the first Department of Commerce,” noting that it “the biggest obstacles in the face of the Iraqi trade, having tended to impose a buy trade from the central market known بعراقة the corruption and incursion.”

He pointed out that “This is one of the faces of the war on the private sector,” he said, adding that “We today rings connected state of lying and we can not keep up with the world and join in commercial organizations in the light of this matter.”

In turn, the aide said chief investment Diwaniyah Hassan al-Yasiri in an interview to (range Press), “The accession to the WTO has become is a must for opening up to global markets,” adding, “but that this is facing several challenges, including the invasion of foreign goods imitations , in addition to widespread unemployment, as well as the destruction of the local product not protect. “

He Yasiri that “the State has work to protect the products of local industries and the legislation of laws deterrent that ensures protection, operating and developing talent at all levels,” adding that “Iraq does not have a choice but to catch up with the economically developed countries, and to benefit from their experiences in the development of its economy.”

The World Trade Organization announced its inception in 1995, and is one of the youngest international organizations, where the WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was established in the wake of World War II.
And despite the fact that the WTO is still the modern multilateral trading system, which was originally set up under GATT has reached the fifty-year-old, and celebrated the golden jubilee of the system in Geneva on May 19, 1998 in the presence of many heads of state and government leaders.

The past twenty years have seen a phenomenal growth in world trade, as goods exports rose an average of 6% annually and helped GATT and the World Trade Organization (WTO) to establish a system strong and prosperous business, which contributed to the unprecedented growth.

The activists were civilians in the province of Salah al-Din, (position of Tikrit, 170 km north of Baghdad), in (28 March 2013), expressed concern as a result of lack of knowledge of aspects of spending public money in general and that provision is included in the petro-dollars in particular, and criticized the reliance “almost complete “Oil and export instead of investment and the development of other economic sectors.

The Association for the Development and the development of industry and trade in Iraq criticized, on March 19, 2013, no state support for industry and trade sector and open the doors of import wide, causing damage to the product nationally and lost his ability to compete, while believing that the scarcity of electricity, fuel, and not keep up with the Angels national global developments and the lack of laws appropriate most important factors retreat Iraq industrially and economically, confirmed its quest detection areas ready for industrial investment and help stimulate foreign and Arab companies to invest jointly with Iraqi investors, creating industrial and commercial sources is oil.

It is noteworthy that Iraq has witnessed a year after 2003, a state of openness without restrictions on the world which led to flooding the domestic market with goods from around the world unsanctioned, as well as a decline in domestic production and public sectors as a result of the security chaos and the scarcity of snap and fuel, failed efforts government agencies concerned, so far, including standardization and quality control and the ministries of environment and health in the face of a flood of shoddy goods, despite the efforts made in this regard.

Sources: Currency Newshound, Almada Press

http://www.almadapress.com/ar/news/11819/

Blue’s comments:  This is not smoke and mirrors as some Guru’s and Pumpers claim…This is factual and these Laws are needed for a reason and have to be in place  for the protection of both parties involved (Country’s and or Merchants alike).

Some say it’s not necessary for Iraq to be a full member of the WTO to have a significant ReValue of their currency..I myself think it needs to be..Only because without a strong trade agreement in place will hurt a ReValue of any value that takes place by not being able to trade on the open World markets that is vital to a Country in keeping their currency below the inflation value and trade off sets that is needed to maintain that value…Do you think they can do that even at the value now?..umm… just a thought..jp/Bluewaters2u.

Iraq Commerce Meeting Discussed WTO Issues:


The new Iraqi Union

 

Committed the security agreement partners the political process signatories to the implementation of the final phase of occupation program, a federal application stage.

The fact that the position of the occupation was not clear in any case such as the visibility of the issue of federalism he declares at night and during the day he wants to sees a federally Iraq, and the leaders of the fundamental process required all know them completely, and they are the keepers of strictly implemented. In order rushes Iraq to the final phase of the planned decree also wants the U.S. occupation has كلت Obama administration Iraq dossier to Biden Republican Almtzin that has already been presented to Bush and Congress project to divide Iraq, and here he is today oversees the implementation itself has started its activities in practice heats the political situation in preparation for the division was distribution of roles on the partners of the political process as follows:

First: the Government Center (Maliki) repeating provoke Sunni provinces to create a public opinion accepts the invitation to the regions and federalism, testifies to the intrigue Nukhaib and mobilization of sectarian owner, and campaigns ablation in Salahaddin University and arrests Baathists real and alleged advocacy spiteful against Hashemi and output exciting for his arrest at the airport and try to arrested by ended بهروبه to Kurdistan, and the expulsion of al-Mutlaq and treason Issawi and waving files of terrorism with left and right. Within the context of advanced policy-Maliki comes unabashed arrest of thousands of innocent people and fabrication of charges unjustly and falsely as a prelude to their execution. It blows more and more Viatql the women, and blow more and more Vigtsb the women all in order to make the reaction path towards regionalization decree, الفدرلة and division.

Then it was necessary to raise sectarian shipping more and more cross-provoking protesters and shed their blood in front of screens in all media Yards sit latest massacre Hawija. It is clear in all of the above that Golan may أرخى to the cord of the owners and their leaders and gave them the green light to commit these massacres, has not missed perjurer international (United Nations), as is usual in disguise this heinous crime.

Second: the Sunni provinces and reaction inspired by the Americans to the leaders of the year, the announcement regions and cling so right unconstitutional to pay injustice and stop the mop and marginalization, with titillate people demanding set of unemployed graduates and shares is greater than the financial allocations, and everything fit of logos to create and confirm public opinion to accept federalism and division. True to it has announced Salahuddin province itself Diyala provinces and announced itself Anbar provinces, on the road and it was the Council of preservation has threatened the center and أمهلها government two weeks and only فسيعلن the region!.

Third: Under the guidance Biden that the Maliki government center temporarily Baltmana and lack of response to suit the provinces, and he and his party continues in arrogance and provocation enough for continuing sectarian shipping and promote advocacy towards separation so as to reach the point of no return.

Fourth: It is also necessary to provoke the Kurds to raise the temperature and speed up the movement of centrifuge, and in this context came Maliki’s party accused of Talabani of harboring terrorists wanted for justice Abu Tabr.

Fifth: After the tug and frenzy Israeli ambassador to intervene and perhaps Biden personally to force Maliki to appeal to the Constitution and allow the transformation of the Sunni provinces successively into regions and after the issuance of the decisions of the Federal Court in this regard. Output may require a federal constitutional referendums forged in the provinces and the result will come out that federalism is the desire of the majority of the Sunni masses.

Sixth: the enhanced authority of the central government on the rest of the provinces to be a one territory governed by the Dawa Party, will be issued a fatwa from Sistani and perhaps Khamenei deprive the Shiite sect claim and federal regions.

Seventh: will the new reality of the conflict on the border and repainting among the provinces and territories, to achieve the ambitions of the government Safavid in biting Dujail, country and Syed Mohammed Salahuddin province and biting Nukhaib of Anbar province; also allows the new reality of partisan Talabani and Barzani biting Kirkuk and the eastern side of Mosul, and all This ruled Biden plan and approved by the client parties that brought the occupation and promoted him.

Eighth: The government will continue to seek to inflict Safavid central Samarra, consequently, the state after disagreements be اختلاقها between Samarra and Salahaddin province, and will be administratively justification this time not because the majority of the population sectarian Samarra are Sunni.

Ninth: Biden permission of Diyala will not be allowed to declare secession in spite of the Constitution because it is the geographic component of the components of Iraq Persians and crossing it to Samarra, have noted how the Safavid militias captured and expelled their portfolios because the thought of it.

Tenth: It consists map Biden for the new Iraq of three regions (the Kurdish region inclusive halves of Mosul and Kirkuk and Khanaqin and its capital, Erbil, and the region Safavid and inclusive of Diyala, Samarra and its capital, Baghdad, and the region’s Sunni abundance of Iraq confined in the western corner after ترشق and coming in the invitations divisive such as glass plate if crash will turn into crystals and no one can draw the borders of each piece in it. and we will enter in the war zones and lanes disputed within the same province with the provincial Sunni and Shiite alike.

Eleventh: This map Herald and current and seen them on satellite TV, but politicians Year ignore the claim of urgency and enthusiasm to the establishment of regions, what the Council called for Salahuddin province to declare the province a territory so quickly Sunni leaders in the Iraqi List to confirm the constitutionality of this requirement, and even started to pay councils in the provinces of Diyala and Anbar to declare regions and a national referendum, and we have seen how Vdaúyatem was simmering people and step up efforts in this direction.

Twelfth: We want to ask Sunni leaders advocate of regionalization, how you can that Thmoua people in the Sunni provinces of targeting and marginalization if this is you’re doing and you are in the Green Zone? Why do not you think of another alternative whitening your face if you are truthful or that malicious spirit Biden has Talpcetkm what we became hear from you is Sultanate of the Constitution and federal clang.

XIII: Then what about the year of Baghdad, which are impossible to be divided on a sectarian basis? Do تضحون ​​Baghdad, its people and Tnfdon your hands نصرتنا and you are defenders of the year? Then protects the good Shia Arabs from the domination of the Safavid Iranians? Are not you call the National and pretend Astafavkm with Iraqis in all provinces and all sects?.

Fourteenth: The conclusion that the advocates of regionalization if they so much naive and did not understand this game and its disastrous consequences on Iraq in general and on the year especially Those calamity, and if they understood and they wanted to Eetmmoa occupier purposes Valmuseibh of the greatest.

http://bit.ly/11HUXbQ

Sources:         Bluewaters2u research team, Currency Newshound and 

http://www.ahraraliraq.com/index.php?page=article&id=18959

Joe Biden’s plan for dividing Iraq into 3 Territory’s.


Dr SinanAl-Shabibi

Shabibi ousted from CBI, IQD drops; Dinar at lowest level in two years!

Observers: dip, Shabibi dinar missed and we fear the continued decline

THURSDAY, 16 MAY 2013 17: 07

Twilight news/Iraqi dinar is currently experiencing a decline in its value against the US dollar since the Government sacked the former head of the Central Bank, Sinan Al-Shabibi is raising concern among money and economy in particular.

And the value of the Iraqi dinar fell gradually during the past few weeks, bringing the price of the dollar to about 1,300 dinars after was stable from 1120, the highest rate of exchange-rate mechanism for the last two years.

And observers believe that the decline rate of the Iraqi dinar has since Prime Minister Nuri al-Maliki decided suddenly to exempt former Central Bank Governor Sinan Al-Shabibi, head of the Office of financial supervision Abdel Basset Turki.

They also believed according to radio free Iraq obtained by “twilight news this procedure and accusations with former Central Bank Administration left its impact on the Bank’s reputation and the reputation of Iraq in world markets.

He expressed this view financial expert Majid mock who explained also other internal and external factors that may have contributed to the degradation of the value of the Iraqi dinar, including the regional situation, especially in Syria and Iran and then the consumer orientation of the Iraqi Government and instability in Iraq, prompting funds to flee abroad.

Mock noted that the Central Bank sold large amounts of US dollar vary by between 50 and 100 million dollars a day.

The mock said that solutions emerge from the crisis requires joint effort at all levels in addition to the other solution is to float the currency but the main solution in his view is to revive the neglected by many development because it does not come with such a direct profit trading and import. The import volume reached 64 billion dollars in 2011 while the former does not exceed $ 9 billion.

And Economist Salim Al-jibouri tried to explain the effects of the deterioration of the value of the Iraqi dinar to the simple citizen and on the internal market and the most important effects appear in the prices of goods available in the Iraqi market and imported goods depends on the dollar if the dollar rises with increased prices of all goods and commodities.

However, Al-jubouri said the two central bank balance and currently exceeds $ 70 billion, is what makes the Government unable to intervene and support the value of the Iraqi currency.

He is a member of the Finance Committee in the House of representatives Secretary Hadi Abbas that the deterioration of the local currency occurs in all countries and in every place.

And the lack of any kind of threat to the large reserves at the Central Bank and is able to cover all the defects, according to a Deputy who accused some banking authorities of being behind the dollar trading inventory for special purposes.

Sources: Currency Newshound (  http://bit.ly/18NZv0k  ) and Bluewaters2u Research Team and http://www.shafaaq.com/en/

Shabibi ousted from CBI, IQD drops; Dinar at lowest level in two years!


BAGHDAD / Press-term

08/05/2013 (23:01 pm)

Confirmed by the U.S. Agency for International Development (US AID) provided nearly nine billion dollars in support of Iraq since 2003, and will continue for a few more years, despite shrinking budgets, and showed that more corruption in Iraqi ministries is through the procurement system used.

USD 100 dollar Bills

The director of the agency Thomas tulle in a meeting with a number of media, including the long-Presse: The size of the subsidies granted to Iraq since 2003 to now nearly nine billion dollars, including 200 million for 2013, the current, indicating that this support is reduced compared to previous years but our work continues for a few years to come. He added tulle: to support the Agency focuses on the areas of infrastructure, education, health, agriculture, financial sector reform democratic governance and support of the elections, pointing out that the organizations that supported the agency provided aid to the 1715 case of the most vulnerable groups in society, especially women, as well as the submission billion dollars in small loans to about 400 thousand people helped to secure 400 thousand jobs.

The director of the U.S. Agency for International Development, the agency has in collaboration with UNICEF vaccinate 98 percent of the children of Iraq, noting that the agency has provided support to the agricultural sector local and that sector fish farming has doubled its production of five thousand tons to 80 thousand tons to reach sales of fish farmers to 142 million dollars now. Toole confirmed the presence of auditors and Iraqi oversight committees to monitor the functioning of the organizations that support by the agency, and continued: in the event of detecting corruption process calls for the organization returns the funds given to the organization concerned or refer the matter to the local authorities or the Iraqi judiciary.

Saw director of the U.S. Agency for International Development, that the most important problem of corruption in Iraqi ministries concerning the procurement system followed them, revealing that there is coordination with the Office of Prime Minister Nuri al-Maliki, and the Advisory Board at the General Secretariat of the Council of Ministers, to address the issue of the procurement system in the Iraqi ministries. He tulle: that the Agency carried out a training cadres of 13 Iraqi Ministry of encouraging them to apply new purchases on the systems according to international standards. And the U.S. Agency for International Development (USAID) is an agency of the United States federal government, which is primarily responsible for the management of external assistance to civilians.

The foundations of former President John F. Kennedy, the agency in 1961 administrative order to implement development assistance programs under the Foreign Assistance Act, and the work of Congress to update the mandate through a number of annual financial dependence laws and other legislation. In spite of the fact that the U.S. Agency for International Development (USAID), one of the agencies of the U.S. government technically independent, but they are subject to foreign policy directives of the President of the United States of America and the United States Secretary of State and the National Security Council.

The director of the agency operates within the foreign policy directives and powers of the Minister of Foreign Affairs, is seeking the U.S. Agency for International Development to help people to improve their living conditions and recover from disasters, or those people who are struggling to live in a free and democratic nations. Agency’s objectives include the provision of economic assistance and humanitarian and development around the world to support the implementation of the foreign policies of the United States. The agency works in Africa, Asia and the Near East, Latin America and the Caribbean and Europe.

Sources: BAGHDAD / Press-term and Currency Newshound

http://almadapaper.net/ar/news

Blue’s Comments: This has been the 2nd Biggest Issue next  to the Counterfeiting with the USD & the IQD from Iran in Iraq over the last 10 years..Until they can contain these corruption’s in the procurement of the Iraqi ministries to Iraq’s Sectors of lining their and family pockets with not only foreign Aid from the United States and other United Nations Country’s that contribute to Iraq’s Foreign Aid they will never become a full and respected Nation with the Global Foreign  Banking  Investments and Trade Industry…They are starving their People and denying their Citizens the rights they deserve..Blue/Jp

US AID discovers corruption in the procurement of Iraqi ministries.


Oil Plant_17-2817

 

Expectations of the imminent parliamentary passage of the oil law.

May 8, 2013

expected the Commission on oil and energy parliamentary exit the draft final “for the oil and gas law during the next term,” especially after the bilateral agreements between the province and the center, confirmed the possibility of the integration of all drafts of the proposed out of the law and one that meets the wishes of the various parliamentary blocs and political rights.

The importance of the adoption of this law in its ability to double the revenue of the country’s financial, as well as put it controls a firm to manage the oil wealth, which confirmed the constitution as “the property of the Iraqi people.”

Said Rapporteur of the Commission on oil and energy Qasim Mchkta the importance of expediting the approval of oil and gas law, noting in interview for “Center Brief for the Iraqi Media Network,”

The law of oil and gas from the laws very important that must speed up the approval.

said Mchkta to the presence of many previous attempts that have sought to enactment of this Act because of its importance, most recently set up a committee quintet to agree on a new version. between Mchkta the importance and seriousness of the discussions that took place between the delegations of the central government and the Kurdistan region recently, which is expected to lead to the adoption of the law as soon as possible, especially since the atmosphere are suitable and appropriate for the payment approval process and consensus on one of the drafts of the three. was the Governments center and the region have agreed to resolve the seven-point form axis of disagreement between the two sides, including the resolution of oil and gas law. coincided agreement of Arbil and Baghdad on the law with the announcement on Tuesday of the oil and energy parliamentary, which has shown their ability to integrate drafts of the three within the House of Representatives كمقترحات for oil and gas law draft and one out in a consolidated version being displayed To vote in Parliament.

A member of the Committee MP Hassan donation to “Center Brief for the Iraqi Media Network,” that “most of the points in the drafts submitted by the political blocs agreed and controversial points not more than five points all related to contracting powers, production and disbursement Finance and استحصالها”. He gave that “it only requires the existence of a political will to resolve then we will be able to reach solutions to all points of contention that we can not serve as the parliamentary agreement on one of the points can be placed paragraphs represent the points of view and go with them to a vote in parliament, which would be al-Faisal in determining which is better” . and the Attorney “was supposed to go to the scholars of international law and the use of the existing laws in the world and adopt a law for oil and gas in the country, taking into account the suitability of the economic reality in Iraq.”

The problems of failure to approve oil and gas law, in the absence of a standard format for decades oil concluded by Iraq with major international companies in this field, especially since the center depends formula differs from formula contract approved by the province, and moreover, the economists emphasize the importance of the law in being treated lapses experienced by the oil industry in Iraq, and its potential to enhance revenues the country’s financial, leads to growing موازناته annual, is that the most prominent pros to be achieved in the shadow of approving the law and according to economists, is to increase the export capacity of Iraq, and the development of processes and Extraction exploratory it.

noted that the Commission on oil and energy Parliament has three drafts of projects, oil and gas law is the draft of the year 2007, and the draft government and draft a proposed law committee, but all of these drafts are not acceptable to the political parties in parliament. Article (111) of the Constitution reads as follows: “Oil and gas are the property of all the Iraqi people in all regions and provinces, “while Article (112) reads as follows:” First: The federal government will administer oil and gas extracted from current fields with the governments of producing regions and provinces, to be distributed and ارداتهما fairly commensurate with the population distribution in all parts of the country.

Source: Currency Newshound and the morning newspaper Iraq – http://www.alrafedain.net/index.php?show=news&action=article&id=99749

 

Blue’s Comments: The importance of the adoption of this law in its ability to double the revenue of the country’s financial, as well as put it controls a firm to manage the oil wealth, which confirmed the constitution as “the property of the Iraqi people…Looks like they are passing the Dinar (Buck) onto the next Term Member’s..ummm…jp/Blue

Iraq Oil Commission anticipates final draft of Oil Gas and HCL law.


Barzani-Maliki deal sets process…. again….. for agreement.
By PATRICK OSGOOD, BEN LANDO AND STAFF of Iraq Oil R.eport
Published Friday, May 3rd, 2013

After increasing acrimony over the past year, Iraqi Prime Minister Nouri al-Maliki and his counterpart in the Kurdistan Regional Government (KRG), Nechirvan Barzani, have agreed to attempt to resolve a swath of long-standing disputes, aimed at easing tension, amending the 2013 budget, and moving forward long-awaited hydrocarbon legislation.News of a seven-point accord between the prime ministers has raised hopes of the final resolution of the contested extent of the Kurdistan region’s autono..

Senior officials in Erbil and Baghdad have come away from a two-day meeting with a commitment – but no deal – to tackle a comprehensive list of differences.

KRG Prime Minister Nechirvan Barzani at a press conference in Erbil on May 1, 2013, discussing his recent meeting with Iraqi Prime Minister Nouri al-Maliki. (SAFIN HAMED/AFP/Getty Images)
Barzani-Maliki deal sets process, again, for agreement

By PATRICK OSGOOD, BEN LANDO AND STAFF of Iraq Oil Report
Published Friday, May 3rd, 2013	
After increasing acrimony over the past year, Iraqi Prime Minister Nouri al-Maliki and his counterpart in the Kurdistan Regional Government (KRG), Nechirvan Barzani, have agreed to attempt to resolve a swath of long-standing disputes, aimed at easing tension, amending the 2013 budget, and moving forward long-awaited hydrocarbon legislation.News of a seven-point accord between the prime ministers has raised hopes of the final resolution of the contested extent of the Kurdistan region's autono...

Senior officials in Erbil and Baghdad have come away from a two-day meeting with a commitment – but no deal – to tackle a comprehensive list of differences.

KRG Prime Minister Nechirvan Barzani at a press conference in Erbil on May 1, 2013, discussing his recent meeting with Iraqi Prime Minister Nouri al-Maliki.
Sources:  The Iraq Oil report  www.iraqoilreport.com
Barzani-Maliki deal sets process, again, for agreement.
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