Trade: a new law regulating the work of foreign companies in Iraq

07/26/2015



Baghdad / term

A commission regulation of foreign companies operating in Iraq for the formation of a committee to take it upon themselves to draw up a new law regulating the work of those companies within the country way that is consistent with what you need the current phase of the procedures to activate the economic side.

A member of the Committee on behalf of Antoine told (range), "a committee was formed to run the companies department at the Ministry of Trade has multiple departments, including the private sector circles as well as a committee of the Bar Association to put the new law to the work of foreign companies in Iraq and the abolition of the old law, which is not commensurate with the current stage. "

He added Antoine "was the draft of the new law put after continuous meetings to solve this law instead of Alajnah No. 5 Companies Act of 1989, which does not offer facilities for the work of those companies being depends on a complex mechanism linked to nine destinations chaired run companies department in the Ministry of Commerce."

He stressed that "the new law will be ready in a short period and will be for the private sector of Iraqi businessmen Union played an important role in it," noting that "the law will organize the work of foreign companies and their branches in Iraq commensurate with the Iraqi market system and the actual need to activate the economic side in general."


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