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Muslimtrade Network members
about Iraq.

I  R  A  Q 


1. GENERAL PRESENTATION: 
1.1 General characteristics
1.2 General Information
1.3 Legal Framework of Trade Relations


2. TRADE STRUCTURE:  

2.1 Main Imported and exported products (1995) 

2.2 Trading partners (1996)


3. FOREIGN TRADE REGULATIONS:  
3.1.Imports regulations
3.2 Exports regulations
3.3 Other formalities and documents


4. FINANCIAL REGULATIONS OF FOREIGN TRADE OPERATIONS:  
4.1 Banking system
4.2 Foreign exchange system
4.3 Methods and means for international settlement


5. CUSTOMS TAXATION:  
5.1 Applicable duties and taxes


6. FOREIGN TRADE LOGISTIC:  
6.1 International Transports
6.2 Telecommunications


7. USEFUL ADDRESSES


1 GENERAL PRESENTATION:  

1.1 General characteristics:


Official name

Republic of Iraq

Surface

441,839 Sq. Km

Population

21 millions inhabitants (Midyear 1996)

Density

48 inhabitants per square kilometer 

Capital 

Baghdad

Climate

Iraq is characterized by hot summers and cool winters. The hottest months are July and August when temperature may exceed 43°C and the coldest month is January with an average daily minimum of 4°C especially in the Highlands.

Main holidays

January 1st and 6th, February 8, July 14th, Eid Al-Fitr*, Eid Al-Adha*, Moharram 1st*, Ashoura*, and prophet’s birthday.*

Weekly day off

Thursday afternoon and Friday.


(*) Variable dates
1.2 General Information:


Language

Arabic is the official language; French & English are used in business.

Currency

The Currency Unit is the Iraqi Dinar (ID) 

US$ 1 = 0,31 ID (Official rate: December 1997)

Local time

GMT + 3 hours

Working hours 

From April 1st to September 30th: From 8H to 14H Saturday through Wednesday / From 8H to 13H Thursday 

- From October 1st to March 31st: From 8H30 to 13H30 Saturday and 8H30 to 14H30 Sunday trough Wednesday 

- Some private sector firms: From 9H to 14H and 16H30 to 19H30 Saturday through Thursday, all year.


1.3 Legal Framework of Trade Relations 

Iraq is member of the following international organizations:

Organization of the Islamic Conference (OIC); 

United Nations Organization (UN); 

Organization of Petroleum Exporting Countries (OPEC) 

League of Arab States 

G77 

Iraq is a member of the Arab Common Market and the Arab Cooperation Council. Iraq also is a signatory to inter-Arab trade and transit agreement.
TRADE STRUCTURE  
2.1 Main Imported and exported products (1995):


Main Imported products
Main exported products
Manufactured products
Crude Oil
Food products
Refined products
 
Fertilizers
 
Sulfur


  

2.2 Trading partners (1996):


Suppliers
Customers
Pakistan Turkey
Turkey Malaysia
 
United Kingdom
  Australia
  Netherlands


FOREIGN TRADE REGULATIONS: 

3.1.Imports regulations:
The ministry of trade is responsible for formulating the import policy and the annual import program.
All the imports of the private sector require a license except basic products for some development projects; special licenses are issued for imports financed by foreign exchange obtained by non-resident Iraqis. 

At import level the following documents are required:

Commercial invoice 

There is no special form of invoice required, but generally it should state a detailed description of the merchandise, the full name and address of the manufacturer and the country of origin.

Certificate of origin 

Generally not required, but a country of origin statement must appear on the commercial invoice, but if requested, it must be certified by a recognized chamber of commerce.

Packing list 

Two copies of a packing list are requested. It should specify the contents of each shipping container.

Bill of lading 

Three copies must be prepared. A bill of lading customarily shows the name of the shipper, the name and address of the consignee, port of destination, description of goods, listing of the freight and other charges, the number of bills of lading in the full set, and the date and the signature of the carrier’s official acknowledging receipt on board of the goods for shipment;
3.2 Exports regulations:
Exports of certain goods to all countries are prohibited. All exports are licensed through the general company for exhibitions and trading services. Exporters of products manufactured by public sector companies must undertake to repatriate 60 percent of their foreign exchange proceeds through the Rafidain Bank or the Rasheed Bank.
3.3 Other formalities and documents:
In compliance with the Export regulations, the following documents must be prepared:

Certificate of analysis:  

an English copy is required for all imports of antibiotic products, compounds and preparations.

Blacklist certificate 

This document is issued by an Iraqi consular representative and should state that the steamer carrying the goods is not on the Iraqi government’s blacklist.
Goods destined for Iraq are permitted to transit neighbors countries.
FINANCIAL REGULATIONS OF FOREIGN TRADE OPERATIONS: 
4.1 Banking system:
The Rafidain Bank and the Al-Rasheed Bank are the two state- owned commercial banks, the Rafidain is by far the biggest commercial bank in terms of assets. It is also one of the largest Arab financial institutions. 

Since 1991, six new private banks have been established, these were: 

The Socialist Bank, Iraqi Commercial Bank, Baghdad Bank, Dijla Bank, Al-Itimad Bank and the Private Bank.

4.2 Foreign exchange system:
The board of Directors of the central bank is in charge of the foreign exchange control. The department of Foreign Exchange and Banking Supervision of the Central Bank and licensed dealers have a specific approval authority.
4.3 Methods and means for international settlement:
The payment of imports must be made in Iraqi dinars or in specified currencies. The most used method of payment is the letter of credit.
CUSTOMS TAXATION 
Iraq has a single-column import tariff based on the Customs Cooperation Council Nomenclature.
5.1 Applicable duties and taxes
Duties on Ad-Valorem basis are predominating, although many are specific. 

Preferential duties  

Arab common Market members including Iraq have removed, with a few exceptions, the tariffs on manufactured products. The Inter-Arab Trade and Transit agreement, of which Iraq is a signatory provides for duty-free entry of some non industrial products and duty reduction on certain industrial products from member states.

Specific duties 

The net weight is the dutiable weight in evaluating specific duties but some items are evaluated on the basis of gross weight.

Ad valorem duties:  

In assessing ad-valorem duties, the basis of CRF value is used. The goods are assessed at the estimated value at the time of the transaction if the authorities are 

Customs surcharges and indirect taxes 

There is a tax at the rate of 0,5 percent on imports of capital goods and 0,75 percent on imports of consumer goods.
All dutiable imports are subject to a surcharge.
FOREIGN TRADE LOGISTIC  
6.1 International Transports:

Maritime Transports:  

The ports of Basra and Umm Qasr are the commercial gateway of Iraq. They are connected by various ocean routes with all ports of the world. With the beginning of food imports under UN security council resolution, Umm al Kasr became the major port of Iraq.

Air Transports 

There are international airports near Baghdad at Bamernui and at Basra, and smaller civil airfields at Hadithah, Kirkuk and Maosul. 

Land Transports 

Railways: The railway system has three major routes, the Baghdad-Kirkuk-Irbil, the Baghdad-Mosul-Yurubiyah, line which is linked with the Turkish system, and the Baghdad-Maaqal-Ummal qasr standard line. 

Roads: There were 36438 km of roads. The border roads linking Iraq with its western neighbors were much improved. Post-war reconstruction efforts have been successful. A major new bridge across the Tigris was completed in 1993.

6.2 Telecommunications
By mid-1992, telephone lines in the main cities, especially Baghdad had been restored.
USEFUL ADDRESSES: 


Organization and Public Establishments
Address
Tel
Fax
Telex

Ministry of Finance

Khulafa street, near arrussafi square, Baghdad

(9641)887-4871

 

212459

Ministry of Trade

Khulafa St. Khullani Square, Baghdad

(9641) 537-0091

 

212201

Ministry of Foreign Affairs 

Karradat Mariam, Baghdad

(9641) 887-2682

 

212206

Federation of Iraqi chambers of commerce

Mustansir st. P.O. Box 5665 –Baghdad

(9641) 8876211

8880878

2821 ik

Iraqi federation of industries

Iraqi federation of industries building, al Khullani square, Baghdad

     



 
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