Iraq formally withdraw from the Free Trade Agreement

Sunday 20-11-2016 | 3:22:11
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Twilight News / detector Egyptian Commercial Representation, Iraq's discontinuation of the Arab Convention easing.

Memorandum sent by the Egyptian Commercial Office in Baghdad reported that he has been officially informed the Arab League decision until it is circulated to all governments to apply the principle of reciprocity on Iraqi products exported to various markets.

She explained that the Iraqi government's decision came as a result of flooding the Iraqi markets with goods imported from all Arab countries and products, which led to the widening financial crisis, especially in light of the collapse of oil prices.

For its part, the Ministry of Trade and Industry informed the Egyptian exporting companies to the Iraqi market, the decision, which is expected to subject the Egyptian products exported to there to tariffs ranging between 15 and 20%, which would adversely affect the value and volume of exports.

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