Iran invites Iraq to consolidate the banking system between the two countries

2016/09/25 11:50

{Baghdad: Euphrates news} called Minister of industry and mines and Iranian Commerce, Naimat Zadeh, Minister of planning and trade agency Salman jumaili, the possibility of consolidating the banking system between Iraq and Iran.

The statement said jumaili's Office received a copy of {Euphrates News} said Sunday that Trade Minister agency Salman jumaili and his entourage who visits Tehran currently in talks with Minister of industry and mines, trade, issues addressed and Zada unto files relating to deepen and strengthen cooperation between the two countries in various fields, especially the economic, industrial and commercial.

During the meeting the parties discussed the possibility of taking advantage of the Iranian experience in developing industry reality in Iraq, as well as to discuss trade between the two countries and file border exit and entry of goods into Iraq. "

Jumaili said during the meeting, the statement said that "Iraq seeks to overcome all obstacles to the development of relations between the two countries in all fields, particularly in the commercial and industrial and economic side," he said, adding that the Iraqi Government had taken a number of steps and actions that will increase cooperation benefit from Iran's potential and the desire to facilitate the entry of Iranian companies to compete with international companies in supplying the ration card ".

He added that "the Iranian industry development during the past years makes the Iraqi side more confidence in moving this experience to Iraq pointing to" some problems in the supply of goods to Iraq some Iraqi specification and need to match Iran's industries into Iraq for this specification.

He pointed out that the memorandum of understanding signed between the two countries in the field of standardisation and quality control represents an important step in the import and export between the two countries because it includes a large number of goods, will apply to ten items will then be expanded to include all of the agreed goods. "

The two sides also discussed by statement "a number of other issues including the Organization of work in border ports and the possibility to work around the clock to ensure no delays in goods in those ports which could endanger some of the damage," add to "discuss the process of organizing trade arenas in border ports and establish appropriate mechanisms to unload cargo from trucks to Iraqi trucks and vice versa and the right speed for smooth entry are high in those goods and not to damage".

"The parties also discussed the possibility of Iranian companies processed some ration materials account for the Iraqi Trade Ministry and especially articles {oil, rice and flour} Iraq needs {35} tons of edible oil per month, to meet requirements for ration card and {57}, 000 tons of sugar and {110} thousands of tons of rice.

He added that "Iraq report annual needs of flour four mlainn and 500, 000 tons, at a time when Iraq began approaching the bridge to local needs of wheat."

The Minister said jumaili "broaching to file for benefits companies and contractors he incurred by the Iraqi Government on the implementation of a number of investment projects over the past two years.
And 306 for his Iranian counterpart that "the Government has started to pay these benefits through the issuance of bonds backed by and receive 50% of dues as a first phase in which contractors will exceed the completion percentage of the projects which you execute the {85%} on full benefits provided an undertaking to complete the project.

For his part, Minister of industry and mines and Iranian trade "enjoyed his country's desire to develop relationships and provide all kinds of support to lmsadadth Iraq through security and economic", noting that "his Government is ready to equip the Iraqi Ministry of trade a good quality cooking oil at discounted".

Zada praised the statement said "the actions and steps taken by the Iraqi Government to develop bilateral relations, including the signing of a memorandum of mutual recognition of standards.

The Iranian Minister called for "creating a permanent Iranian commercial center in Iraq for the coordination function between the two countries in the field of import and export, in addition to the possibility of consolidating the banking system between Iraq and Iran that would address many of the problems caused by the lack of such banking system".