Deputy calls to speed up the establishment of more than a free economic zone in furtherance of the national economy
Date: Thursday, 03/05/2012 10:39

Baghdad (news) .. The member of the Finance Committee MP / National Alliance / Secretary Hadi Abbas, to the need to speed up the establishment of more than a free economic zone for ongoing exchanges on the Iraqi border, in order to strengthen the Iraqi economy and diversification in the fiscal revenue of the state.
Abbas said (of the Agency news) said on Thursday that most of the countries of the Middle East such as Turkey, Iran and the UAE have recovered economically as a result of its establishment more than a free economic zone, conducting trade and benefit from the transit of goods through them, with no taxes or customs on them.

A: You should supplement and strengthen the Iraqi economy by accelerating the construction of more than a free economic zone on the Iraqi border, all with either the Kuwaiti border in Basra, with Jordan, Syria or Iran or Turkey.

The free zones, one of the pillars of the task upon which the national economy, especially in developing countries, known as a provincial small-exist within the political boundaries of the country, but are outside the customs borders of that country, which means that everything that comes in and out of the free zones is not subject to import and export controls and customs duty.

And is economic philosophy of free zones in the waiver State certain taxes due on any activity in order to achieve the benefit greater pan-economy of the country and adopted many of the world to approach the establishment of free zones, especially in developing countries as to have the free areas of importance in the creation of sources of additional funding for the development and attract foreign investment selective manner and the transfer of modern technology and employment for the elimination of local unemployment.

Has established the General Authority for Free Zones Iraqi Law No. (3) for the year (1998) for the purpose of keep up with global developments of increasing coherence in international economic relations in the framework of economic freedom and to isolate these developments for the march of the Iraqi economy, and privacy and the promotion of socio-economic development forward by attracting capital and foreign national and the establishment of industrial projects that use advanced technology, and there are currently three free zones belonging to the body are (Nineveh, Khor Al-Zubair, which is based).