Iraq News Iraq Increasing Financial Stability #iqd Free Zones of Trade
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Hi guys, Sandy Ingram here, Welcome to the Edu Matrix where we talk about exotic currencies, mostly the Iraqi Dinar and the Vietnam Dong, as well as low-cost investments with high rates of return. In today’s video, we are going to share information on a new way Iraq is planning to add annual revenue outside of the oil industry. This is important because Iraq is committed to generating high streams of revenue outside of the oil industry. This is part of the to-do list for increasing the value of the currency. The Free Zones Authority confirmed on Monday that Iraq is ready to establish free zones and the presence of all success factors while noting that there is a trend to establish free zones adjacent to two major airports in Iraq.: A free zone on the Iraqi-Jordanian border, which is part of the joint economic project.
Free trade zones, also referred to as foreign trade zones, are designated areas where finished goods and raw materials can be purchased, sold, manufactured, imported, and exported without going through customs.
Iraq wants in the future to open a free zone near the Iraqi-Saudi border.” These free zones support the process of trade exchange and foreign trade development.” And because Iraq borders SIX different Middle East Countries, Turkey, Iran, Syria, Jordan, Kuwait, and Saudi Arabia, this effort can prove to be financially beneficial for Iraq