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 […]
Tag Archives | Imports
What You Need to Know About Exporting to Iraq in 2020
Advertising Feature If you're an exporter looking to ship goods into Iraq, you'll need to get a Certificate of Conformity (COC) or Certificate of Inspection (COI). But what exactly does that mean and why are they important? International exporters around the world are taking advantage of Iraq's increasing demand for imports. The country took in […]
Iran to buy more Basic Commodities from Iraq
Governor of the Central Bank of Iran (CBI) unveiled plans for using a joint mechanism with Iraq to purchase basic commodities and items excluded from the list of anti-Iranian sanctions. Iran's top banker Abdonnaser Hemmati, who is on a visit to Iraq with a ranking economic delegation, held a meeting with his Iraqi counterpart Ali […]
Local Businesses get Boost from Iraq Lockdown
By John Lee. Iraq's national lockdown in response to the coronavirus (COVID-19) pandemic has reportedly given a boost to local businesses. According to a report from AFP, local businesses no longer have to compete with imports from countries such as Turkey, Iran, China, Saudi Arabia, Jordan and Kuwait. It quotes the owner of an ice-cream […]
Tags: Basra News, China, coronavirus, covid19, featured, Imports, Iran, Jordan, Kuwait, lockdown, mn, Saudi Arabia, Turkey
Iran's Non-Oil Exports to Iraq Increase
By John Lee. Iran's non-oil exports to Iraq are reported to have increased by 0.7 percent. For the Iranian calendar year 1398 (ended on March 19), non-oil export to Iraq hit $8.9 billion, according to a deputy with the country's Trade Promotion Organization (TPO). Tehran Times reports that medicines and medical equipment, plastic products, ceramic […]
Iran-Iraq Border Open for Trade
An Iranian official denied the “fake” reports about the closure of the common border with Iraq, saying Iranian trucks are exporting commodities to the Arab country via all border crossings without any problem. In an interview with Tasnim, chairman of the Iran-Iraq joint chamber of commerce, Yahya Al-e Eshaq, said Iranian trucks are exporting shipments […]
Iraq is Turkey's Fourth Biggest Customer
By John Lee. According to statistics from Turkey's official statistical office, TurkStat, the country sold $20 million more to Iraq in January than it imported. In January 2020, Turkey's main partner country for exports was Germany with $1.415 billion, followed by Italy with $888 million, the United Kingdom with $869 million, Iraq with $816 million,s […]
Jordan's Exports to Iraq Fall by almost 11%
By John Lee. Exports from Jordan to Iraq have reportedly fallen by 10.6 percent compared with the same period last year. The news has shocked some in the Jordanian business community, especially after the signing of trade deals between the countries. (Source: The Jordan Times)
Video: Iraq depends on Iran Imports, fears Sanctions
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq and Iran are neighbours: Around $25m worth of Iranian goods enter Iraq every day. But a US deadline that allows Iraq to trade with Iran is set to expire in three months, […]
Iran Resolved to Boost Exports to Iraq: President
The president of Iran voiced the country’s readiness to expand trade ties with Iraq and increase exports to the neighboring state. "We are ready to have our tradespeople more active in Iraq and supply the required goods so that we can reach a good balance," Iranian President Hassan Rouhani said at the Economic-Trade Forum of […]
Iraq Emerges as Iran’s Top Export Destination
Iraq has emerged as Iran's top export destination in the current Iranian year, an official announced. The director of the export bureau of Iran’s Customs Office, Ali Akbar Shadmani, said the value of the country’s exports since the beginning of the current Iranian year (March 21, 2018) has surpassed $30 billion, with Iraq being the […]
Outgoing Abadi signs blow to Turkish Imports
By Fehim Tastekin for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. While Turkey was eagerly anticipating a new government in Baghdad to sort out many problems with Iraq, a last minute decision by the outgoing prime minister has added a fresh item […]
Tags: borders, Corruption, Duty, featured, Haider al Abadi, Import tariffs, Imports, KRG, Kurdistan News, Turkey