By John Lee. Prime Minister Mohammed S. Al-Sudani received a delegation from the U.S. Chamber of Commerce on Wednesday, including American investors and corporate executives, accompanied by the U.S. Chargé d'Affaires in Iraq. The meeting focused on strengthening economic ties and promoting Iraq as an attractive destination for foreign investment. The Prime Minister outlined steps […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Tariffs, Oil Prices, and the Budget The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 1.6% for the […]
By John Lee. Iraq's Council of Ministers has approved a 40% additional customs duty on imported PET rolls made from polyethylene granules, used in the production of single-use water cups, food containers, and transparent storage products. The measure will be in effect for four years without reduction, with market conditions under review. Key Measures: Customs […]
By John Lee. In support of the national project for producing commercial zero flour, the Iraqi government has approved the local sale of wheat to licensed public and private mills at prices equivalent to the import price of similar wheat delivered to Umm Qasr Port. This move aims to enhance local flour production and reduce […]
By John Lee. Iraq's Council of Ministers (Cabinet) has imposed n additional 20 percent customs duty on imported steel rebar (10-32 mm) from all sources. The new rate is effective for four years starting October 3, 2024, and applies to tariff code 72142000. The Ministry of Industry and Minerals will monitor import increases compared to […]
By John Lee. The Iraqi Cabinet has approved recommendations from the Ministry of Industry and Minerals (Industrial Development and Regulation Directorate) to impose an additional customs tariff of 50 percent on imported paper bags used for packaging cement. The new measure will come into force after 120 days, and run for four years, during which […]
By John Lee. Iraq's Council of Ministers has approved a list of additional import taxes aimed at protecting domestic producers: Imposing an additional customs fee of 65% on "epoxies and modern dyes" imported into Iraq from all countries and manufacturers for four years without reducing it and monitoring the local market while applying the additional […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Local farmers face difficulties competing with imported goods Local farmers in the Kurdistan Region struggle to make profit with their produce as the markets are flooded with imported goods. Click here to read the […]
By John Lee. Iraq has extended its suspension of customs duties on basic commodities such as foodstuffs, construction materials and essential consumables from two months to three months. It has also similarly extended its suspension of the import ban on some goods, including foodstuffs, consumables, and medicines from two months to three months. The initial […]
By John Lee. Iraq will suspend customs duties on basic commodities such as foodstuffs, construction materials and essential consumables for a period of two months. In response to the increasing prices of various commodities, Iraq will also suspend the import ban on some goods, including foodstuffs, consumables, and medicines. The ban was in place to […]
By John Lee. The Iraqi government has said it is taking action to "end exemptions for some goods from import duties to increase income from border crossings". In a statement on Twitter, Minister of Finance Ali Allawi said: "Iraq is facing a dangerous situation; oil revenues are not enough to cover state expenditure, including the […]
The Cabinet held its weekly regular meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Adil Abd Al-Mahdi. It discussed the Iraqi government programme for 2018-2022, and adopted a covenant committing the Prime Minister and members of the Cabinet to implementing the programme and to be held accountable for its delivery before parliament. […]
