Moves to strengthen the Iraqi trade balance

Admin Sun Nov 24, 2013 8:36 pm

11/24/2013 0:00
BAGHDAD - Farah pumice

within the moves to strengthen the balance of trade to Iraq through coordination and support of all sectors of the local economy, signed a one Iraqi banks agreement on the framework of cooperation with the Arab Trade Financing Program adoption as one of the agency's national program in Iraq.

Under this agreement will provide a line of credit to the bank Iraqi National for use in the Arab Trade Financing so that it could contribute to the growth of exports and imports of industrial and service sectors in Iraq.

, and he signed on behalf of the Arab Trade Financing Program, Dr. Jassim Al Mannai, Chief Executive Chairman of the Board and on behalf of the National Bank of Iraq Abdul Hadi Sadiq managing director of the bank.

It is said that this bank is a subsidiary of Capital Bank of Jordan, which has a rate of 79 percent of its capital.

in a statement the "morning", confirms honest that the Arab Trade Financing Program provides facilities and services have a positive impact contributes to the promotion and development of trade volume between the Arab countries and to increase the competitiveness of Arab producers and exporters.

added Sadiq said "the Convention will enable the bank to boost trade in Iraq by funding and encouraging local exports to the rest of the Arab countries by giving customers credit facilities and concessional terms," and expressed hope that the increase resulting in Foreign Trade positive effect in promoting trade balance for Iraq and supports all sectors of the local economy.

noted that national agencies in Iraq and of (6) and benefiting from the Arab Trade Financing Program plays an important role in the development of the local economy through services provided by the program, the credit facility terms soft and business information services and promotion, in addition to the development of productive capacities and competitiveness of the product and the source of the Arab and support the economies of the Arab countries and encourage trade in order to enhance the march of Arab economic integration.

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