American chamber of commerce In Iraq

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  • 26 Oct 2020 9:26 PM | Anonymous



    Iraq Council of Minister’s White Paper:

    Financial Reforms to Introduce Stability, Prosperity,

    Including Growth of International and Iraqi Private

    Sector Business


    October 23 2020


    To Our Colleagues and Stakeholders in the American Business Community in Iraq:

    AmCham-Iraq is pleased to announce the AmCham-Iraq will make available, as a Member benefit, an English-language translation of the Iraq Council of Ministers’ (CoM) White Paper on proposed financial reforms to be considered and taken within the next three years to introduce stability and the return of prosperity to Iraq, inclusive of the grown of international and Iraqi private sector businesses.

    We direct your attention to the White Paper’s sector-specific proposed reforms:

    Topics                                                                                                                 Pages

    • Government of Iraq (GOI) national budget (2020-2024)              42-45
    • Banking and Financial Sectors                                                               47-51
    • Agricultural Sector                                                                                    52
    • Hydrocarbon Sector                                                                                  53-55
    • Private Sector                                                                                             55-59
    • State-Owned Enterprises                                                                       60-62

    • Electricity Sector                                                                                        65-68  

    • Telecommunication Sector                                                                     68

    • Transport Sector                                                                                        69-70

    • Free Zones and Industrial Cities                                                            71

    During the next four weeks, AmCham-Iraq will publish a series of detailed analyses of the implications of the Iraqi government actions proposed in the White Paper on current and future international business operations and opportunities in Iraq.

    If you would like to receive the English-language translation of the White Paper and AmCham-Iraq’s forthcoming analyses, please contact us at management@amcham-iraq.org.  

    On behalf of the AmCham-Iraq Board of Directors

    Timothy B. Mills

    President, AmCham-Iraq

  • 10 Sep 2020 10:50 PM | Anonymous



    U.S.-Iraq Strategic Dialogue Washington, D.C. Session (19-20 August 2020)

    AmCham-Iraq Communique to the U.S. and Iraqi Delegations:

    Bilateral Policy Issues of Most Concern to the

    American Business Community with Interest in Iraq


    18 August 2020


    To AmCham-Iraq Members, Colleagues and Friends:

    On 15 August 2020, the American Chamber of Commerce in Iraq (“AmCham-Iraq”) presented a communique, on behalf of the American business community in Iraq, to the heads of the United States and Iraq delegations to the U.S.-Iraq Strategic Dialogue. Our communique addresses policy issues that are of most concern to the American business community, and encourages the United States and Iraq to discuss and agree on affirmative, concrete to resolve those issues in the upcoming Washington D.C. session of the Dialogue.

    AmCham-Iraq is delighted to share this communique with you.

    Sincerely,

    Timothy Mills

    President, AmCham-Iraq


    ai-us-iraq strategic dialogue dc session position paper (xmtl to members) f18aug20 (002).pdf

  • 10 Sep 2020 10:29 PM | Anonymous



    The Future of the Strategic Relationship between

    the United States of America and the Republic of

    Iraq:

    Key Policies for Growth of the American Business

    Community’s Contributions to Further Essential

    Economic Development of Iraq


    9 June 2020


    Presented to:

    Ministry of Foreign Affairs of the Republic of Iraq

    State Department of the United States of America 

    on the occasion of the 2020 Strategic Dialogue on the

    Relationship between the Two States


    Foreword by the President of the American Chamber of Commerce in Iraq


    On 10 June 2020, the United States of America and the Republic of Iraq will commence a longawaited Strategic Dialogue to address all aspects of the relationship between the two States. The Dialogue will commence with Ambassador-level exchanges by video conference in Washington,D.C..

    During the following several weeks, Iraq and the United States will more deeply exchange views and positions at the highest levels, with the aim of the countries reaching agreement on a formal framework to guide the relationship between them now and into the future.

    In preparation for the Strategic Dialogue, the American Chamber of Commerce in Iraq (AmCham-Iraq) has been asked to express our views on economic, commercial, security and political concerns arising out of the U.S.-Iraq strategic relationship that: (i) bear on the interests of American enterprises involved with Iraq; and (ii) AmCham-Iraq believes should be addressed by United States and Iraq during the Strategic Dialogue.

    By this paper, AmCham-Iraq does so. As part of informing the views and recommendations that we present in this paper, in late May 2020, AmCham-Iraq surveyed the community of most American enterprises that do business in and with Iraq. We express gratitude to the Members and friends of AmCham-Iraq – who also are friends to Iraq – for entrusting us with your views and suggestions concerning policies in the bilateral relationship that, if fully and adequately addressed, will promote a closer and more mutually-beneficial economic relationship between the two countries.


    ai-white paper us-iraq strat dialog ff9jun10.pdf

  • 14 Mar 2020 1:03 AM | Anonymous

     

     

    2020 Washington D.C. Door Knock Event and

    Annual General Meeting Postponed due to

    Coronavirus Covid-19 Concerns

    ● Tentatively Rescheduled for Early May, 2020

     

    13 March 2020

     

    To AmCham-Iraq Members, Friends and Colleagues:

    AmCham-Iraq’s combined 2020 “Door Knock” event and Annual General Meeting (“AGM”), previously scheduled for Tuesday, March 24 through Thursday, March 26 in Washington, D.C., has been postponed over concerns about the coronavirus pandemic, AmCham-Iraq President Timothy Mills announced today.

    This announcement comes in the wake of yesterday’s moves by the Congress to close the Capitol and the House and Senate Office Buildings to the public through the end of March, and by the White House also stopping all visits “until further notice” to prevent the spread of coronavirus.  These actions came as fears grow about the spread of the virus. As of today, more than 1,300 cases have been reported in the U.S., and at least 38 persons have died.

    "Considering the latest information and expert analysis, we have decided at this time to postpone the 2020 “Door Knock” event and AGM until early May,” AmCham-Iraq President Mr. Mills stated. "Ultimately, the health and well-being of everyone associated with these events led the AmCham-Iraq Board to this decision.”

    For further information concerning the forthcoming 2020 “Door Knock” and AGM, please email AmCham-Iraq at: management@amcham-iraq.org


  • 7 Mar 2020 10:21 PM | Anonymous

    From the Executive Office

    Timothy B. Mills, President

    Ahmed Dawood, Vice-President

    Jo Morrison, Treasurer

    Arin Pinto, Board Secretary

    FLASH REPORT

    For Immediate Attention of the American Business Community in Iraq

    Iraqi Council of Ministers Imposes Restrictions on Border Crossings, Airport Arrivals, Imports from Kuwait and Iran, Operation of Iraqi Ministries and Public Gatherings in Attempt to Control Exposure to and Spread of Novel Corona Virus

    -■        Restrictions Likely to Impact on American and Western Business Operations in Iraq

    -■        Ministry of Health directed to seek purchases of masks and protective suits for the protection of Iraqi people and health care workers

    BAGHDAD, IRAQ (6 March 2020) – The American Chamber of Commerce-Iraq (AmCham-Iraq) advises the American business community in Iraq that this week the Council of Ministers of the Government of Iraq has put in place – with near immediate effect – significant Novel Corona Virus control measures. These include:

    -●      Restrictions on entering Iraq from novel corona virus-affected countries;

    -●      Prohibition on the movement of commerce through the Iraqi land ports of entry with Kuwait and Iran;

    -●      Health checks of all arriving air passengers at Baghdad and Basra airports with possible detention and quarantine of passengers showing novel corona virus symptoms, including fever, coughing and respiratory infection;

    -●      Partial curtailment of the operations of most Iraqi government Ministries, independent Commissions and Entities, Governates and State-Owned Enterprises by cutting attendance at work to 50% of work staff;

    These restrictions almost certainly will impact American and western companies doing business in Iraq.  AmCham-Iraq will monitor and issue reports on the Iraqi government’s actions in this realm.

    AmCham-Iraq also solicits reports from American and western businesses on the impact of the Iraqi government novel corona virus response measures on business operations.  We encourage American and western businesses to report to us by email to: 

    president@amcham-iraq.org

     

    The Iraqi government’s Committee also has announced that the Ministry of Health will be given the financial resources – unlimited by the 2020 Iraq National Budget – to purchase masks, protective suits, testing kits, medicines and other medical supplies needed to respond to the novel corona virus threat to the people of Iraq, and to the Ministry of Industry and Minerals to manufacture protective masks and other health products needed to prevent and fight the spread of novel corona virus infections.

    These restrictions and actions are the result of decisions of an Iraqi governmental executive committee created by the Council of Ministers. The committee is entrusted with leading the Iraqi government response to the novel corona virus threat across all Ministries, Governates, State-Owned Enterprises and independent Iraqi government bodies.

    For more details concerning these restrictions and programs, please see the official Iraqi Government announcement (in Arabic) and the English-language translation (link below).


    Faithfully yours,

    Timothy B. Mills

    President, AmCham-Iraq


    ai-corona virus iraq resp offical announcememnt arabic and english 7mar20.pdf


  • 21 Aug 2019 8:38 AM | Anonymous

    Authorities in Baghdad are implementing a series of measures to improve passenger access to Baghdad International Airport.

    The measures include the widening of the main road to the airport, the removal of a number of security barriers and allowing vehicles to reach the departure terminals to drop off passengers.

    These measures coincide with the the resumption of flights by major carries to Iraqi airports, and the expansion of Iraqi Airways route network.

    The easing of access to Iraq’s main international gateway comes just a few weeks after the Iraqi authorities oversaw the opening of the so called ‘Green Zone’ in central Baghdad to traffic, fulfilling an undertaking by Prime Minister Adil Abd Al-Mahdi and the Iraqi government.

    Soon after the defeat of Daesh in Iraq, the Iraqi government began to remove concrete barriers, blast walls and checkpoints, which have been in place for well over a decade, from other parts of Baghdad and cities across Iraq.

    Source: Government of Iraq

    https://gds.gov.iq/iraqi-government-implements-measures-to-improve-access-to-baghdad-international-airport/


  • 17 Aug 2019 9:13 AM | Anonymous

    BAGHDAD, Aug 17 (Reuters) - Iraq raised its domestic production of gasoil and gasoline in 2019, the Oil Ministry said in statement on Saturday.

    Current production rates of gasoline stand at 14.29 million litres per day, up from the 2018 average of 11.485 million.

    Gasoil production was up to 11.23 million litres per day from the 2018 average of 7.84 million.

    The statement said the increase was largely the result of moves to increase output from Iraq’s refineries, some of which have been rebuilt after being damaged by militant groups.

    Iraq uses most of the fuel it produces for domestic consumption, the statement said.

    (Reporting by Ahmed Rasheed and Raya Jalabi; Editing by Kevin Liffey)

    Source: REUTERS

    https://af.reuters.com/article/energyOilNews/idAFL8N25D0E8

  • 5 Aug 2019 7:36 PM | Anonymous

    The Central Bank of Iraq announces the increase of the assets of banks at the end of 2018 by 10% compared with 2017 to exceed 120 trillion dinars equivalent to (100 billion dollars), indicating the increased confidence of depositors in banks, which reflects positively on the development of the performance of banks and its contribution to the development of the Iraqi economy.

    The bank explains that its strategic actions have contributed to increasing confidence in the banking sector and improved financial inclusion, which has been reflected in the growth rate and steadily increasing of bank assets and deposits. Adding that this rise came from mutual trust between citizens and the banking system through the development of attracting cash deposits and commercial operations to banks.

    It is worth mentioning that accounting adjustments was made for the total assets of commercial banks following International Accounting Standards (IAS) as of January 2012.

    Source:

    Central Bank of Iraq Media Office

    5 August 2019

    https://cbi.iq/static/uploads/up/file-156525400276175.pdf

  • 29 Jul 2019 8:18 PM | Anonymous

    The United Nations Conference on Trade and Development (UNCTAD) held a high-level dialogue on e-commerce and the digital economy on 28 July in Baghdad. UNCTAD reported that  government officials said that Iraq is laying the foundations for e-commerce as it rebuilds its infrastructure after years of violence.

    The event kickstarted weeklong consultations that are part of UNCTAD’s assessment of the country’s readiness to engage in e-commerce, the first such exercise in a non-least developed country.

    Nearly 100 people drawn from Iraq’s public and private sectors exchanged views on how to overcome the challenges that hinder e-commerce in the war-affected country.

    “We have to build trust among consumers and create an enabling legal environment,” minister of communication, Naeem Al-Rubaie, said.

    He emphasized the need for fitting legal frameworks and legislation to regulate e-commerce and protect the rights of online sellers and buyers.

    Naeem Al-Rubaie

    Iraqi minister of communication, Naeem Al-Rubaie, speaking during the high-level event on e-commerce and the digital economy in Baghdad on 28 July

    Hurdles and opportunities

    “We are pleased to help Iraq assess hurdles and opportunities in the e-commerce sector as it embarks on national reforms to harness ICT for its reconstruction,” UNCTAD’s director of technology and logistics, Shamika N. Sirimanne, said.

    The UNCTAD assessment will provide a roadmap for developing e-commerce in the country and complement the government’s initiative to upgrade ICT infrastructure, build digital trust by improving cybersecurity and support e-government.

    The assessment builds on a survey recently conducted among a sample of public and private sector respondents.

    The survey revealed the need to work on areas such as e-payment, ICT infrastructure, regulatory frameworks and the logistics system to create a conducive environment for e-commerce in Iraq.

    Decades of conflict have ruined the infrastructure needed for e-commerce to flourish in Iraq. Telecommunications infrastructure is worst hit.

    Also, Iraq has low rates of technological literacy and lacks a coherent national strategy, regulations and investments needed to participate in the digital economy.

    Yet, with 60% of the population under 25, Iraq has an enormous untapped potential of using e-commerce for development. 

    Higher rates of smartphone usage, higher internet access and higher competition between ICT providers would enhance e-commerce in Iraq, most survey respondents said.

    In addition, solutions for safe and easy e-payment are highly needed in Iraq. The most common payment methods are cash-on-delivery and bank transfer, with limited credit card use.

    E-payment solutions are needed to create a conducive environment for e-commerce, 89% of the respondents from the public sector said.

    Iraqis are also concerned about regulation. More than 70% of the respondents expressed strong approval for regulations on privacy, consumer protection and cybercrime to enhance trust in e-commerce.

    They also noted that logistical services required for e-commerce are inadequate, with more than 60% of them expressing the need for easier customs clearance, electronic shipment tracking and a good local shipping network.

    Eighteen assessments done

    Iraq is the latest country to benefit from UNCTAD’s eTrade Readiness Assessment programme that helps countries to identify the challenges and opportunities associated with e-commerce and put in place the right strategies and interventions. 

    The assessment to be finalized in December is funded by the International Islamic Trade Finance Corporation, through its Aid for Trade Initiative for the Arab States programme, and implemented with the Universal Postal Union under the auspices of Iraqi ministries of communication and commerce.

    Over the past three years, UNCTAD has conducted 18 e-trade readiness assessments and another seven are ongoing.

    Source: 

    UNCTAD

    https://unctad.org/en/pages/newsdetails.aspx?OriginalVersionID=2160

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