Deputy Prime Minister and Foreign Minister Fuad Hussein Chairs 8th Meeting of Ministerial Council for Economy

On Monday, March 11, 2024, Deputy Prime Minister and Foreign Minister Dr. Fuad Hussein, chaired the eighth meeting of the Ministerial Council for Economy 2024, the Meeting was attended by Deputy Prime Minister and Minister of Planning and the Ministers of Finance, Agriculture, Industry, the Secretary General of the Council of Ministers, the Governor of the Central Bank of Iraq, Chairman of the Securities Commission and the Prime Minister’s advisors for economic and legal affairs.

The Council, decided to form a committee to regulate trade and imports in Iraq, which includes Prime Minister’s advisors for economy and representatives of the Ministry of Commerce, the Central Bank of Iraq, customs, taxes, and relevant authorities.

The Council also decided to approve the completion of the Al-Wahda district sewer project and remove constraints holding back its implementation.

In order to develop the agricultural sector and to revive palm cultivation in Iraq, the Council decided to amend the instructions on importing and exporting, in order that import license is valid for two years from the date of granting the license instead of one year, especially for textile palm seedlings.

In addition to, and for supporting the Iraqi missions abroad, the Council decided to allow the import of a personal vehicles for employees of diplomatic missions for three times only throughout the period of their service, and recommended the Council of Ministers to exempt it from customs duties.

As well as, for supporting the private industrial sector, the Council decided to recommend the Council of Ministers to unify the percentage of reducing the prices of naphtha, natural gasoline and condensate products for all sectors to be 50% less than the international bulletin.

The Council decided to unify support for projects approved by the National Investment Commission and the General Directorate of Industrial Development.

The Council also decided to approve an increase in the cost of the project to streets and pavements tiling and developing and in Tuz Khurmatu district in Salah Al-Din.