By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Iraq has continued to implement strict inspection measures on imported goods through its maritime ports in the southern city of Basra, after having been accused of turning into “a warehouse for mediocre products.”
Rafed Mahmoud, chairman of al-Nasseem Co. for Foods LLC, which is headquartered in Baghdad, said that the Iraqi Ministry of Planning has resumed, since the beginning of April, the implementation of strict inspection measures on goods supplied to Iraq through Basra’s ports.
“These measures have obstructed the entry of around 50% of goods that used to be supplied to Iraq under normal conditions in the past,” he added.
Companies specializing in the import-export sector objected to the standardization measures that resulted in commercial shipments piling up on border outlets. On the other hand, 20 Iraqi commercial and naval companies filed complaints in this regard, demanding that the Iraqi government reconsider these measures.
Traders and suppliers said that dozens of trade shipments have been held up at the ports of Khor al-Zubair, Umm Qasr and Abu Flous in Basra city, due to standardization and quality control measures. As a result of the delay, the goods got damaged or [the companies] incurred financial losses. The traders and suppliers asserted that they have stopped their trade activities until the government responds to their demands.
Suppliers noted that the new standardization measures have been limited to the maritime supply outlets. However, it is expected that the land outlets will also be subject to these measures as of next month.
The Iraqi Ministry of Planning inaugurated last month a laboratory for standardization and quality control in Basra province.
Iraq Business News
Translated from Azzaman Iraq for Al-Monitor by Naria Tanoukhi. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Former Iraqi oil minister Issam al-Jalabi says that although Iraq is an oil-rich country, it still imports petroleum products from abroad to meet its needs 10 years after the US-led invasion of the country.
Jalabi, an international energy expert, told Azzaman that annual imports of oil derivatives reached $ 6 billion a few years after the occupation.
He said the total spent by Iraqi governments on the import of oil derivatives and gas during the past 10 years is $ 30 billion.
Jalabi said that total could have paid for five or six giant refineries in Iraq. He said no new refineries have been constructed or are planned, adding that the government is still signing contracts to import oil derivatives.
He said this means that Iraq will spend another $ 30 million to import oil derivatives.
The former minister told Azzaman that corruption involved in the import of derivatives is the reason new refineries are not being built.
Jalabi said that former Iraqi oil minister and current Deputy Prime Minister Hussain al-Shahristani, when summoned to parliament, told legislators that Iraq has reached self-sufficiency from derivatives, but that this was not true.
Iraq Business News
Iraq is still considered Jordan’s best market for exports ahead of Saudi Arabia, India and the United States, according to the Amman Chamber of Industry (ACI).
According to ACI statistical report, Jordanian exports to Iraq by the end of November of last year reached JD813 million, accounting by 22 per cent of the Chamber’s exports.
Exports to KSA came second with JD379 million, followed by India with JD315 million then USA with JD286 million, while exports to Syria declined to JD69 million compared with the same period of 2011 with JD138 million.
Describing the Iraqi market as “vital”, ACI First Deputy Chairman, Fathi Jaghbir (pictured), told Petra that both countries have commonalities in people and geography which gives the Jordanian product great opportunity to be marketed within the Iraqi market, along with its competitive quality.
He also hailed the meetings of the Jordan-Iraq higher committee and its resolutions, voicing hope it would help pave the way for the flow of goods between the two countries.
(Source: Petra)
Iraq Business News
By John Lee.
The Kurdistan Regional Government’s Minister for Natural Resources, Ashti Hawrami (pictured), has announced that the Kurdish region will be self-sufficient in oil products next year.
He expects an increase in Kurdistan refinery’s production from 40,000 to 100,000 barrels per day, resulting in a surplus of oil products.
Hawrami also disclosed that there are more oil companies interested in workin in Iraqi Kurdistan.
(Source: Aswat al-Iraq)
Iraq Business News
By John Lee.
Iraq has reportedly re-invited bidders to supply 44,000 metric tons of steel products, having received no bids when it first sought offers a month ago.
The products include plain galvanized sheets and hollow window sections, said Trade Ministry spokeswoman Fawziyeh Hameed.
According to a report from Bloomberg, the deadlines for bids are:
- July 25 for checkered plates;
- July 29 for galvanized sheets;
- July 30 for hollow window sections; and,
- July 31 for other hollow sections.
(Source: Bloomberg)
Iraq Business News
People have accepted the military’s monopoly on power for years, but that now seems to be changing.
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The Director General of Al Diyala Electrical Industries Abdul Sattar Abdul Wadud revealed marketing of (511) distribution transformers of various capacities, sizes and capacities and (4503) electric measurement with different capacities for the Ministry…
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Iraq Updates
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KARBALA / Aswat al-Iraq: Over 2 millions and 43,000 liters of kerosene and about 250,000 gas cylinders, 7 million liters of gas-oil, 6 million liters of petrol, have been distributed on visitors of the 40th Anniversary of Imam Hussein’s Martyrdom Day, that took place at the dawn of Islam, the Chairman of the Energy & [...]
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Dinar Daddy
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Iraq’s State Oil Marketing Organisation (Somo) has signed a contract to buy around 1.5 million tonnes of gasoil and gasoline for delivery over the first half of the year, Reuters has reported, citing industry sources.
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