Ministerial council for the economy regulates traqde and economy

BAGHDAD, January 10 — On Tuesday, the Economic Council decided to exempt fish farm owners from rent fees for the years after 2019. Additionally, the import of winter crops was prohibited, while imports for cucumber and lettuce crops were allowed to proceed.

Statement:

On Monday, January 8, 2024, Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired the first session of the Ministerial Council for the Economy. The meeting was attended by the Deputy Prime Minister, the Minister of Planning, and various ministers of finance, trade, agriculture, labor, and social affairs, as well as the Governor of the Central Bank of Iraq, the Chairman of the Securities Commission, and advisors to the Prime Minister for economic and legal affairs, along with the Deputy Minister of Oil.

The council discussed the agenda items and made appropriate decisions.

The council hosted the Deputy Minister of Agriculture to discuss the presented paper on studying methods of supporting the agricultural sector in all its aspects, given its significant importance in supporting the Iraqi economy.

Additionally, the council hosted the director of the Karbala refinery and several officials involved in the project to discuss and support this important project for its full and secure operation.

Furthermore, the council decided to exempt fish farm owners from rent fees for the years after 2019 by 50% for those whose projects were adversely affected by water scarcity and work stoppage, with an exception for those already compensated from the exemption.

The council also directed the Border Ports and Customs Authority to set a timeframe for the re-export of non-compliant shipments that failed inspection within thirty days and to inform the council accordingly.

Moreover, the council decided to prohibit the import of winter crops and allowed the import of watermelon and cucumber crops.