Deputy Prime Minister and Foreign Minister Chairs the 31st Meeting of Ministerial Council for Economy

Deputy Prime Minister, Foreign Minister and Chairman of the Ministerial Council for Economy Mr. Fuad Hussein, chaired on Monday, October 14, 2024, the 31st meeting  of the Ministerial Council for Economy, which was held at the Council headquarters. The meeting was attended by the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, and the Prime Minister’s Advisors for Economic and Legal Affairs.

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

The Council recommended that the Council of Ministers approve the write off 19,770,842 tons of suspended tea stored in the warehouses of the General Company for Foodstuffs Trading, and sell it through public auction on the condition that it be re-exported outside Iraq, as it does not conform to Iraqi standard specifications, and prevent its distribution to citizens. The Council also indicated that the aforementioned company took legal action against the supplying companies and negligent employees, and legal rulings were issued against them.

As well as, the Council reviewed the report submitted by the Minister of Trade on the third meeting of the working group concerned with Iraq’s accession to the World Trade Organization, which was held in Geneva, and announced its support for the Ministry of Trade’s procedures in this regard, while stressing intensifying bilateral negotiations.

The Council also listened to a presentation by the technical team at the Ministry of Planning on how to use the online platform to announce government tenders and purchases in order to reduce effort and time, ensuring transparency, and making procedures available to all beneficiaries.

In the context of supporting Paralympic sports, the Council approved amending the selling price of fuel oil, which is supplied to the wheels and generators of the Iraqi Paralympic Committee to become 400 dinars/liter instead of 750 dinars/liter.

Additionally, the Council approved increasing the cost of reserve for the project of the Iraqi Council of Scholars building in Al-Shawaf Mosque, and the project of building a three-story school in Al Diwaniyah.

The Council confirmed its previous decision regarding the Ministry of Oil’s commitment to purchase the local product of well cement.