Deputy Prime Minister and Foreign Minister Fuad Hussein Chairs 11th Meeting of Ministerial Council for Economy for 2025

Deputy Prime Minister and Foreign Minister Mr. Fuad Hussein chaired the eleventh meeting of the Ministerial Council for Economy on Monday 27 April 2025 at the Council’s headquarters. The meeting was attended by the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Agriculture, Labor and Social Affairs, Secretary General of the Council of Ministers, Undersecretary of the Ministry of Oil, Vice Chairman of the National Investment Commission, and the Prime Minister’s advisors for economic and legal affairs.

The Council discussed the items on its agenda and took the necessary decisions regarding them. 

During the Meeting the Council discussed the economic situation in light of the recent executive order issued by the U.S. President regarding global tariffs, the economic Advisor gave a brief presentation on the trade balance between Iraq and the United States, the implications of this order on the Iraqi market and ways to enhance international trade. Minister Hussein noted that the direct impact of the decision on the Iraqi economy is minimal, but there are potential side effects, particularly on global oil prices. The Council discussed future mechanisms to protect the Iraqi economy in light of the international changes

The Council hosted the Minister of Defense and representatives from the Ministry and the Border Ports Commission to discuss the Cabinet’s decision on customs clearance and the mechanisms for demarcation and inspection, as well the Council approved the recommendation to the Cabinet to exempt the Ministry of Defense from inspection procedures at border ports for imports belonging to the Ministry for technical and security reasons, and to rely on the inspection mechanisms followed by the Ministry’s Inspection and Acceptance Directorate. 

The Council decided to form a committee from the Federal Audit Office, the General Secretariat of the Council of Ministers, the Ministry of Finance, and several spending units to study the accounting irregularities prior to 2003, and develop appropriate mechanisms for resolving them, including write-offs.

The Council also decided to add table eggs to the approved agricultural calendar issued by the Federal Ministry of Agriculture and to stop the import of table eggs due to their availability in the markets. The Council also decided to open the import of tomatoes, potatoes, cauliflower, lettuce, turnips, and beets, as the agricultural season for these crops has ended. It also decided to stop the import of onions due to the availability of local production in the markets. The Council also decided to add dates and date paste to the electronic system for submitting export license applications, which is issued by the Ministry of Commerce/General Company for Exhibitions and Services.