Recommendations to reduce the dumping of commodity

2/10/2016 0:00

BAGHDAD - Farah pumice
Mokhtassan in economic affairs recommended the reduction of the phenomenon of dumping commodity in the local market through the support of the private industrial sector by the authorities concerned for the advancement of the national campaign to the product and assign the «Made in Iraq». A member of the Baghdad Economic Forum d. Akram Abdel Aziz made it clear that the private industrial sector in all its branches faces several obstacles to recover for a local product comparable to foreign manufacturing, the most prominent commodity dumping (Dumping of the commodity).

Expert showed that the imported goods come from different origins specifications often poor and with a suitable price for the Iraqi people what hinder the creation of an ideal industrial environment.

Negative repercussions

And the implications of dumping the commodity on the industrial sector, both public and private, Abdul Aziz saw that reflected negatively on the value-added generated by this vital sector, as it is associated with the decline in the technology and the size of the domestic market in the face of rising costs and the difficulty and the limited production, which limits the percentage of its contribution to the gross domestic product the total impact would be marginal in the diversification of the Iraqi economy, which is one of the government's demands for a shift towards a market economy structure.

Cost of production

For his part, economist Mahmoud Alloush stressed the founding of the Bank for Investment and Development lends to owners of industrial and investment projects to develop their own lines productivity.

Expert, explained that this type of bank guarantees to achieve a national product of high quality, especially since the industry relies on local raw material that make up the value-added ratio of a high proportion of production costs and check the feasibility Aguetsadah.oges on the need to focus on the industrial sector, lending to owners of industrial enterprises who wish update their lines productivity, as well as the value of updated lines with some of the operating capital, Hada at the same time on the application and implementation of legislation and laws passed to curb commodity dumping, which suffer from the effects of local market, thus reflected negatively on the consumer habits of the Iraqi citizen.