18/10/2012
Baghdad (news) ..
The economic expert Latif Abdul Salem Ugaili, the importance of the
establishment of free economic zones in the country to support the
national economy, adding that the talks between Iraq and the United Arab
Emirates concerning the establishment of a free trade zone in Baghdad
will promote commercial exchanges between the two countries and will
serve the Iraqi economy.
Ugaili said (of the Agency news): that the free zones is one of the pillars upon which the national economy in developing countries in particular, and is defined as specific geographic areas subject to special laws and regulations contrasting what applies them to the rest of the state, noting that it enjoys the benefits and incentives make it outside the customs border of the country.
He added: imports and exports markets of the free zones are not subject to import and export controls and customs duty, any state that exempts materials that deal with the free areas of some taxes on any activity in order to achieve beneficial to the economy of the country, and because of its importance to add sources of funding to develop and attract foreign investment and the transfer of modern technology and employment.
He noted: that step both Iraq and the UAE to establish a free trade zone, especially in Baghdad is a step in the right direction in order to enhance the development process by helping to attract funds national and foreign establish industrial projects, and will strengthen the operations of trade exchange between the two countries, especially since the United Arab Emirates is a market and promising the world and in all areas, which serve the interests of the national economy.
The General Authority for Free Zones under the Ministry of Finance discussed with Emirates Mac International Corporation the possibility of establishing a free trade zone, especially in Baghdad, according to the controls. / End / 8.. /
Ugaili said (of the Agency news): that the free zones is one of the pillars upon which the national economy in developing countries in particular, and is defined as specific geographic areas subject to special laws and regulations contrasting what applies them to the rest of the state, noting that it enjoys the benefits and incentives make it outside the customs border of the country.
He added: imports and exports markets of the free zones are not subject to import and export controls and customs duty, any state that exempts materials that deal with the free areas of some taxes on any activity in order to achieve beneficial to the economy of the country, and because of its importance to add sources of funding to develop and attract foreign investment and the transfer of modern technology and employment.
He noted: that step both Iraq and the UAE to establish a free trade zone, especially in Baghdad is a step in the right direction in order to enhance the development process by helping to attract funds national and foreign establish industrial projects, and will strengthen the operations of trade exchange between the two countries, especially since the United Arab Emirates is a market and promising the world and in all areas, which serve the interests of the national economy.
The General Authority for Free Zones under the Ministry of Finance discussed with Emirates Mac International Corporation the possibility of establishing a free trade zone, especially in Baghdad, according to the controls. / End / 8.. /