Thread: Iraqi/Dinar News before 3-12-2007 7:45PM CentralTimeZone

واعلامياPresident : we will support the political, security, economic and media


Said Mariam al adviser of Iraqi Prime Minister Nuri al-Maliki of Foreign Affairs to Baghdad International Conference, which convenes today, will not limited to discuss the security situation in Iraq, but will extend to support political, economic and media of this country facing terrorism who said that will not remain confined dangerous in Iraq, but to all countries in the region, if not practical action to eliminate it in Iraq, and alluded to the possibility of non-American dialogue with Syria and Iran, which of the short duration of the conference, which not exceed the day but confirmed by the government welcomed a funeral if the vote. .Al Rayyes said in a telephone call from Baghdad today that Iraq wants to leave the decisions and recommendations for its support in various areas asserting that the stability of the country will impact on the stability of all the countries of the region in a positive way. اقليمية .It warned that the continuation of terrorist acts in Iraq will remain limited, but it will extend to all the countries in the region.
.She pointed out that the importance of the conference lies in the fact that the first such regional and international level, which is taking place in Baghdad and in the presence of Arab the Arab League, Egypt and Bahrain in addition to Arab neighboring countries. في العراق .It added that the conference will not be limited to discussing the security situation in Iraq, but also touch to the economic situation and the contribution of the participating States in the investment operations in Iraq. علىفيه .She stressed that Iraq is willing to open up economically to these countries for the completion of the reconstruction process under way.

واوضتشهده .The president explained that Iraq was satisfied with the holding of an international conference in the capital Baghdad that the first at this level seen . خطير .She explained that there were several regional conferences held outside Iraq but wrong to conditions which impacted negatively on the security and political They have raised the communal strife among Iraqis seriously. واضافت.It added that such a conference would be the start of subsequent conferences at the highest level and the largest representation of the current conference, which will be on the level agents ministries and senior officials.

واعلنت.She announced that the conference, which opened and make a speech in which Iraqi Prime Minister Nuri al-Maliki will put mechanisms for the implementation of its decisions and recommendations through formation of a committee of the States participating in the conference, explained that such decisions would include action to support the Iraqi political and security, economic and media of during a working paper to the Iraqi explain the importance of mechanisms to provide this support.

وردا .In response to a question about whether there would be a dialogue between Syrian and Iranian American on the sidelines of the conference pointed Mariam Al Rayyes the short duration of the conference, which will be no more than one day may not permit it added, saying that Iraq welcome such dialogue as it will contribute to the efforts of stabilization of Iraq. ووجهت .She drew an appeal to the countries participating in the conference are invited by the perception that success in the eradication of terrorism in Iraq will save this States extend its operations to and reflected positively on the situation in Iraq also reflected on as well.

ر بغدادThe facts on Baghdad
.The conference will be held in Baghdad today, Saturday, a meeting of the agents and senior officials from the ministries of foreign affairs of the neighboring countries of Iraq amid concern national, regional, Arab and international, since it would be the first to be held in the Iraqi capital. مم المتحدة .The Iraqi government has taken the initiative to invite the ambassadors of the five permanent Security Council members to attend the meeting, which approved all neighboring countries, Turkey, Iran, Syria, Jordan, Saudi Arabia, Kuwait, in addition to Egypt and Bahrain for his presence in addition to the League Arab and Islamic Conference Organization and the Organization of the United Nations. و عقد .The meeting, held within the conferences Iraqi neighboring states, where he held nine meetings so far, most recently in July (July) last in Tehran.

وقد عملت.The Iraqi diplomats worked tirelessly over the last months through bilateral meetings, and the collective and direct bilateral contacts and negotiations with the parties international efforts to achieve the government's desire to hold the meeting in Baghdad this has been a success in the efforts to ensure the participation of everyone. .Iraq looks forward to the meeting to achieve practical results and follow-up mechanisms to ensure the cooperation of neighboring countries, positive and constructive to assist the government in ensuring Security, stability and prosperity of the Iraqi people and avoid interfering in its internal affairs.
ومن الحكومة العراقية.For his part, the White House spokesman, Tony Snow, in order to prove Iran's readiness to help in Iraq by work to stop the export of persons who commit acts of terrorism and weapons used to kill Americans and Iraqis and others, to undermine the Iraqi government. .The American authorities accuse Tehran consistently providing armed groups in Iraq with arms and explosives, also accuses Syria of facilitating the infiltration of fighters to Iraq through its borders.

ولم تستبعدالبلد.The United States did not rule out bilateral talks with the Iranian delegation on the sidelines of the conference, but warned that it would remain confined to the Iran's activities in Iraq and will discuss the Iranian nuclear program, which is under discussion at the level of the six countries the five permanent members in the Security Council in addition to Germany or the Lebanese crisis with Syria maintains Benfouthha despite the military exit from the country.

ية.On their part, the members of the Iraqi parliament that the convening of a conference of Baghdad today as an international recognition of the need to assist Iraq exit from its support and security, and economic, political, and is a recognition of its sovereignty and called on neighboring countries to dialogue with transparency on the Iraqi crisis and to identify problems Walt real suffering Iraqi citizen as a result of outside interference in its internal affairs.
واشاروا .They through statements in Baghdad today that the international response to attend the conference and discuss the Iraq crisis recognition by participating States the national government and the political process and the role of Iraq in the region.
ه .They pointed out that Iraq would be strong in the conference and listen to representatives of the participating countries to his vision of a crisis. .They said that the Iraqi delegation will present a working paper calling for joint efforts from the neighboring countries and the influential countries in the region to work control United Nations to support Iraq's stability and recognition of its sovereignty and non-interference in its internal affairs.

ومن في تركيا .It is expected the convening of a conference of the Foreign Ministers of countries participating in the Baghdad during the month of April (April) next ministerial-level thought it will be held in Turkey.

التغطية الصحفيةPress coverage
وقد اعماله .A Iraqi Foreign Ministry appealed to all the media wishing to cover the Baghdad communicated 48 hours before the start the conference of the representatives of the media correspondents and photographers with sending forms of credit was expected participation of 300 journalists to cover its . وقالت ان.She said that. في المؤتمر.Media default on the names of the deadline will not be allowed to participate coverage of the conference. .She explained that because of lack of space will allow the satellite channels and news agencies to send one reporter and one photographer either Bansbeh for newspapers and radio, it will allow to send only one correspondent.

.It added that the timing of the entry of journalists to the building of the Ministry of Foreign Affairs where the conference would be held Teen Between 6.30 and 7.30 am on Saturday will never allow the entry of the delay on this date. .She pointed out that he would not be allowed to accompany the drivers and bodyguards of representatives of the media. وقالت.She will be subjected to all the accompanying inspection and testing before the full registration, and that security considerations would not be allowed to leave the building of the Ministry of Foreign only after the conclusion of the conference.

و ..And because of security considerations would be allowed to enter the carriages, as well as direct transport to the ministry building, but for the local media Arab and the Iraqi channel will be direct transport to the work of the conference. هيهة .As for the foreign media, the Reuters would undertake this task. .The ministry pointed out that the service will be available to translate Arabic, English and the other for Internet and e-mail along with the provision of drinks gas and lunch meal for members of the media .



وکالة ال�رات العراقية للانباء

WOOWEE, THEY WANT IT ALL OUT THERE FOR EVERYONE TO SEE!!

sorry if posted already

Economic progress. On the economic side, on March 16th in New York there will be a formal closure of the text of the International Compact for Iraq. This is quite an extraordinary, very detailed document worked out over the course of much of the last year between the Iraqi Government, the United Nations represented by the World Bank. It is a very detailed lay down of commitments on structures for Iraq's economy, for commercial openness, for investment-friendly regulation. Much of that agenda has already been implemented or is in the process of being addressed and implemented. The compact also contains commitments on the security and national reconciliation front which are very important.


We see this as a very positive step. It's a step which needs not only Iraqi actions in terms of continued implementation, but also reciprocal treatment from the international community, from Iraq's neighbors, who, as Iraq reaches out to them with these commitments on an open economy, on progress on political reconciliation and security, in turn receives support from its neighbors, from the broader international community.


Iraq does need to become economically self-sufficient. The Administration has taken the extraordinary step of requesting from the Congress in the '07 supplemental and in the regular and global war on terror '08 budget request economic assistance for Iraq. Now, Iraq has some $12.5 billion of assets within its current accounts. Those are assets which exist largely as the result of an inability to spend a capital infrastructure budget in 2006. Iraq needs to be able to move its own resources to its own critical needs, both essential services -- the now part of its economic needs -- and a meaningful capital infrastructure investment budget for tomorrow's needs.


But because of the focus on clear, secure, and then the third phase, build, it's essential that economic resources that can stabilize a situation, particularly in conflicted areas after they have been cleared of elements engaged in violence, secured adequately from return of those elements, that there is a build component as well that provides an economic and social stake for the inhabitants of those areas who want a normal, peaceful life to be able to live that life, to be able to mobilize themselves against those who would come in and disrupt.


We need -- we believe we have an obligation -- to help make sure that build component is present when it is needed. We are focused on building Iraqi budget execution capability. That's a critical priority for our efforts in Baghdad and through the PRTs elsewhere. Iraq needs to move into the lead on meeting these needs on building itself, but we are prepared to help. We are prepared to address capacity issues through the assistance we have requested from the Congress over the course of the coming year.

The International Compact is an initiative of the Government of Iraq for a new partnership with the international community. Its purpose is to achieve a National Vision for Iraq which aims to consolidate peace and pursue political, economic and social development over the next five years.
The primary focus will be to build a framework for Iraq’s economic transformation and integration into the regional and global economy. However, it is recognized that good governance and resolution of security and political challenges are pre-requisites for progress in all other areas, including economic revival and normalization.

The objectives of this initiative are:

Iraq’s Economic Transformation and Integration into Regional and Global Economies
To realize a National Vision for Iraq
Consolidate peace and political unity and the vision of a united federal democracy
Establish a path to economic reconstruction, integrated national economy and self-sufficiency over five years
Advance goals of Iraq’s National Development Strategy
Strengthen stability and security
Mutually reinforcing commitments
Iraq’s pursuit of critical reforms
International commitments for support
Recognizing fundamental needs
Good governance
Resolving the political and security challenges
Benefits to the Iraqi People – Progress towards Peace and Prosperity
Benefits to the Government of Iraq – Support and Enhanced Legitimacy
Benefits to the International Community – Peace and Stability, a New Partner
The Compact will be implemented via a consultative group process, around a commonly understood fiscal framework against which substantive commitments will be made. As part of this process, progress will be measured in terms of achievement of key strategic benchmarks.

A follow-up mechanism will also be devised to coordinate pledges, trust funds and disbursement of capital in support of the Compact.

This initiative is not Iraq’s alone. A Preparatory Group tasked with providing strategic advice and engendering high level political support for the Compact, has been set up and is co-chaired by the United Nations and the Government of Iraq, strongly supported by the World Bank and UNDP. It is closely coordinated with the IMF and other international financial institutions. The Preparatory Group liaises directly with the Deputy Prime Minister of Iraq and the Deputy Secretary-General of the United Nations, as the focal points for the Compact process.

The Government of Iraq and the United Nations have designated an Executive Committee to assist the Preparatory Group in establishing a timetable, guiding negotiations and overseeing implementation, including the role of monitoring and evaluation against benchmarks once the Compact is launched. The Executive Committee will manage the process towards the adoption of the Compact and beyond. The Executive Committee will also assist the Government to formulate a strategy for economic regeneration and fundamental reforms for integrating Iraq within the regional and international communities.

As such, the Compact is intended to be a statement of strong regional and international support for the political and economic vision of the elected government of Iraq underscored by specific financial commitments.

Explaining the investment law, the Iraqi-Ala Shaker Al-Hamami


(Voice of Iraq) - 09-03-2007







1-jurisprudence :-after the change of the social contract between the state and citizens in the new Iraq and put forward a document basis in the Constitution dealing political, social and economic entered the stage of the Iraqi state contracts and left consensual style totalitarian state, where the central Iraqi state depends held social, economic and political style in dealing with the citizen in accordance with the concept of contracts of adhesion (The contracts of adhesion between parties one of the powers and authority of micro-wear outlet other safeguards) unlike consensual contracts where the parties to a contract equal commitments the rights and the implementation of terminal dues after their contract here legislation entered a new phase in the Iraqi economic and political life social and therefore came under Iraqi investment law this legislative outlook.
The legislature has not ignored the appropriateness of the law of Islamic jurisprudence (the text of the Iraqi constitution that may not enact laws contrary to Islamic Sharia ) and so came paragraph (n) of Article (1) of the Act in the definition of investment that is the benefit of the project (according to the theory of everything Faqih true useful), but not all useful true. .He specified that the legislature may not invest example (liquor industry or any investment violates Islamic jurisprudence), and thus came this law suits and harmonious with the Iraqi constitution out of the legislation.
2- Two-force of law : - The legislature (the law) because the legal force of law validated by the Legislature Sari refute any law contrary to the provisions of this Act and may not repeal the provisions of this Act may be amended retroactively thus it may shake contracts according to the law. but an as allowed by the law of contracts ratified by the investment (even if non-compliance discovered some legal texts) because of the constitutional powers. Thus, the approved contract and hold the brigade.
.The legislature also granted broad powers in issuing instructions to the perpetrators of this law (and the Vice President), where a person linked to the President Minister (Prime Minister is the head of the nominating body, and his deputy, and endorsed by the House of Representatives) and dropped the validity of the exemption the hand of the Prime Minister only by the Chamber of Deputies and thus have a head of the minister described the powers of the legislation. As chairman of the grant period be five years, which is longer than the ministry, which nominated to the post. Also exempted Chairman and the Vice-from presenting to the ministry (in the event of the fall of the ministry for any reason)
The President and Vice-body not covered in that
.The work of the legislation was consistent with the constitutional decision-making as it is dependent on its absolute majority and thus the private sector has a role (which is the beneficiary of this law) in the decision-making which gives a catalyst for the sector in implementing this law.
3:- Three reasons : - The Code of Obligations : all reasons and duties and obligations of this law is based on
A-pay process of economic and social development and Ttoriha after the deterioration of the infrastructure of the Iraqi reality and the absence of legislation that supports such a guidance.

B-bringing technical expertise and scientific development of human resources because Iraq was severed from the world due to quarrels former regime, the wars, and the blockade Economic imposed on the Iraqi people, which requires reconsideration of the economic laws and legislation to restore Iraq behind global development
EX-suffering Iraqis unemployment terribly convincing, and there is no unemployment in Iraq economic cycle. Therefore initiated this law after the House of Representatives approved and endorsed by the Presidency
4- Law contains seven chapters and the (36 articles)
Chapter I : Includes three articles
Article (1) :-definition for the purpose of clarification of this law, which included items such as the National Authority for Investment and duties and functions
1:- responsible for the development of national policies for investment and the development of controls and control the application of a federal exclusively
2- the Territory. The advisory body in the Territory and operate exclusively in the Territory
3 -body preservation. The advisory body to maintain irregular in the territory and operating exclusively in the province
4:- foreign investor. That does not carry Iraqi nationality
5- Iraqi investor. Is that carries Iraqi nationality
6:- taxes and fees. Subject to the laws in force (for Adrab without law)
7:- energy design. It is designed production capacity within the unity of time and the economic feasibility of the project
8:- portfolio investment. Total investment in stocks and bonds
9:- investment. Recruitment of money in any legitimate activity beneficial to the country
Article (2) Objectives
1- The promotion of investment and the transfer of modern technologies to contribute to the process of development and development of Iraq and expanding the base of production and service. At the economic relations contribute to the building and the development of economic FACI
2:- To encourage the Iraqi private sector and foreign investment in Iraq through the provision of facilities crisis
3-the development of human resources and providing job opportunities for Iraqis
4-to protect the rights and property of investors (Iraqi or foreign)
5:- export expansion and strengthening of the balance of payments and trade balance for Iraq
Article (3) means
1-project grants covered by the provisions of this law privileges and guarantees necessary for the maintenance and development through the provision of necessary support
2:- project grants got leave from the investment of additional concessions and exemptions from taxes and duties, in particular,
Chapter II :-includes the six materials
Article (4) :-to discuss the functions and powers of the National Authority for Investment
1- enjoy the personality and moral authority represented by the President or empowered and be responsible for the development of national policies for investment and development plans and regulations The controls, instructions and specific projects of a European strategy exclusively
2:- formation. The Board consists of (9) members including the chairman and his deputy and four members of a general manager and ( 3) members from the private sector will serve for the (10) years, subject to extension (period to test the law, and added, lie tide the goals, which placed at the legislation) as a reward for making the legislator members of the Committee in the absence of failing in their remit to the posts equivalent grades and be in the center of Baghdad and to appoint representatives to the regions or governorates.
The body of this article in the territory and the preservation of saluting the powers and composition of those bodies in terms of number (It is composed of at least (7) members and its powers be in the contracts of less than 250 million dollars. The work of these committees is similar to the National Commission for Investment and limited in the territory or maintaining
Article (6) :-for the purpose of ensuring transparency in the work of this Committee to make correspondence via the Internet for the purpose of accessible by all citizens
Article (7) :-discussed this way leave requests investment, as well as the volume of investment in the event of a request for investment must take action in one to me on (45)
Article (8) : This article discussed - budget independent body
Article (9) :-discussed this article to encourage investment issuing instructions from the body aimed to overcome any difficulty impede legitimate work investor
Chapter III : the advantages and guarantees. this chapter contains four articles. this chapter discussed the package of benefits enjoyed by the investor whether Sawa Iraqi or foreign, as well as to make the freedom of movement of capital and ensure transmission Benciabh high. as well as the right of circulation in the market for securities Iraq financial stocks and bonds. the right to lease the land for the project or Almsatha as well as opening accounts or foreign currency Iraqi both the right of abode for a non-Iraqi
Chapter IV :-discussed this chapter, by a single investor obligations in terms of commencement of hazardous materials and the start of operation and the feasibility study The records fundamentalism and the preservation of the environment and tax laws of Iraq in terms of salaries and training of workers and tax time period for the project.
Chapter V :-This chapter contains four articles discussed the exemptions contained in this Act as a project Nobel leave investment tax exemption for a period of (10) years, subject to extension
Chapter VI :-ensure that this chapter of articles I discussed the way of investment or the granting of leave and the establishment of the project as follows
1- fill the application form prepared by the body
2- financial efficiency of the Bank approved
3 -projects undertaken by the investor in or outside Iraq
4- details of the project to be invested and its economic feasibility
5- schedule for the completion of the project.
The second point has authorized the establishment of a single window in the Territory or irregular maintenance in the territory bench delegates authorized ministries and the relevant authorities, the Commission is granting leave and the establishment of the project means opening offices in the Office of the same entity Finance, Foreign Affairs, and other taxes for the purpose of facilitating the process of issuing leave
They also determined that the application for approval of the resource consent set at (15) on the acceptance or rejection and lack of response The approval, and that the disagreement between the actors and the Prime Minister decided the arrangement. In rejecting the request establishment owner grievance request to the head of the Territory or on demand through conservation (15) fifteen days to consider the grievance through seven (7) days and the applicant object to the president's decision to reject the body lodged with the signed by the body during the (15) fifteen days from the date of refusal to appeal is its Bata.
Chapter VII :-the general provisions of this chapter, at (16 articles)
Article 21 : : - this article discussed the capital of the project is the exchange remitted through banks and financial companies, or any legal way and
1- One-kind funds related to the project
2- Two-machines, machines, equipment, buildings and construction, means of transportation, furniture and supplies Library
3-moral rights, which includes patents, trademarks, know-how and engineering services, administrative and marketing and in the judgment
4- Article 22 : : - modifying the foreign investor additional benefits in accordance with the international agreements between Iraq and their own or international multilateral conventions Iraq had joined it
Article 23 : : - this article allowed transmission of investor ownership of the project to another to keep the same obligations set forth in the contract . she also remains the same exemptions and facilities
Article 24 : :-and the three paragraphs discussed the materials or surplus equipment, as follows
1- selling or abandoning the project covered by this law after approval by the Commission
2- Two - or sold to anyone not covered by this law after payment of duties and taxes due
3- Three - or exported (or articles) with the consent of the body
Article 25 : :-inscribed this article the process of integrating more of the draft. Each project remains independent and remains a separate each project individually may not be mathematically merger
Article 26 : :-not set aside by the law retroactive and implement the obligations of this law until the duration of the exemption and passed on his
Article 27 : : - she disputes between the parties subject to the provisions of the law applied to them exclusively Iraqi law unless the contract specifies otherwise
Article 28 : This article discussed the violation of the investor as follows
1- One investor alert-writing to remove the violation within a specified period
2- in the case of the survival of violating the invitation of the investor or his representative to the position and give him time to settle violation
3- When the offense is repeated or not to eliminate These countries withdraw and leave the investor withdraws damage to the rest of the parties
Article 29 : :-subject of this article all areas of investment to the provisions of this Act except
1-investment in the fields of mining and oil and gas production
2- investment in the banks and insurance companies
Article 30 : : - The author of this article is the implementation of this law, which the Council of Ministers and by the issuance of the necessary legislation to facilitate the implementation of the law
Article 31 : : - this article obliges Investment Authority issued instructions to facilitate the implementation of regulations issued by the Council of Ministers in accordance with the provisions of this Act
Article 32 : : - The provisions of this law shall apply to private sector projects and co-existing and active (and this could mean the development of those projects and subject development of the provisions of this law) and to request and consent of the body
Article 33 : :-served any text contrary to the provisions of this Act.
Article 34 : :-repeal of this article is the Coalition Provisional Authority (dissolved) No. 39 of 2003
Article 35 : :-cancel the Arab Investment Law issued by the Revolution Command Council disbanded No. 62 of 2002
Article 36 : :-implement this law from the date of publication in the Official Gazette
Alaa Shakir Al-Hamami
Chairman of the administrative board of the Institute of Peace Iraqi leaders

Iraq Compact
What is the Iraq compact?
The International Compact is an initiative of the Government of Iraq for a new partnership with the international community. Its purpose is to achieve a National Vision for Iraq, which aims to consolidate peace and pursue political, economic and social development over the next five years.
The primary focus will be to build a framework for Iraq’s economic transformation and integration into the regional and global economy. However, it is recognized that good governance and resolution of security and political challenges are pre-requisites for progress in all other areas, including economic revival and normalization.
The objectives of this initiative are:
Iraq’s Economic Transformation and Integration into Regional and Global Economies
To realize a National Vision for Iraq
Consolidate peace and political unity and the vision of a united federal democracy
Establish a path to economic reconstruction, integrated national economy and self-sufficiency over five years
Advance goals of Iraq’s National Development Strategy
Strengthen stability and security
Mutually reinforcing commitments
Iraq’s pursuit of critical reforms
International commitments for support
Recognizing fundamental needs
Good governance
Resolving the political and security challenges
Benefits to the Iraqi People – Progress towards Peace and Prosperity
Benefits to the Government of Iraq – Support and Enhanced Legitimacy
Benefits to the International Community – Peace and Stability, a New Partner
The Compact will be implemented via a consultative group process, around a commonly understood fiscal framework against which substantive commitments will be made. As part of this process, progress will be measured in terms of achievement of key strategic benchmarks.
A follow-up mechanism will also be devised to coordinate pledges, trust funds and disbursement of capital in support of the Compact.
This initiative is not Iraq’s alone. A Preparatory Group tasked with providing strategic advice and engendering high-level political support for the Compact, has been set up and is co-chaired by the United Nations and the Government of Iraq, strongly supported by the World Bank and UNDP. It is closely coordinated with the IMF and other international financial institutions. The Preparatory Group liaises directly with the Deputy Prime Minister of Iraq and the Deputy Secretary-General of the United Nations, as the focal points for the Compact process.

Why is it so important?
As such, the Compact is intended to be a statement of strong regional and international support for the political and economic vision of the elected government of Iraq underscored by specific financial
International Compact with Iraq

When?
On 31 October 2006, a High-Level preparatory meeting on the International Compact with Iraq (ICI) took place in Kuwait City, hosted by the Government of Kuwait. The purpose of the meeting was the final consolidation of support for and endorsement of the International Compact with Iraq, as jointly presented by the Government of Iraq and the United Nations.

The landmark event was widely attended with representation of 20 States, regional and multilateral institutions, the formal members of the preparatory group for the ICI. The meeting marks the completion of the preparatory process of the ICI, which has been developed by the Government of Iraq with support of the United Nations and the World Bank.

Compact to be signed within the next week.
2. HCL (Hydro-Carbon Law)

What is the HCL?
1.1 The Kurdistan Regional Government (KRG) has published drafts of two Hydrocarbon Laws: one for the Kurdistan Region and the other for the Iraq Federal (Central) government. The drafts have been circulated to officials from the US, UK, and Iraqi governments, as well as to the media. This move towards transparency is commendable. However, the publishing of the oil and gas production-sharing agreements (PSA) would certainly make the KRG a leader, in this respect, among Middle East governments, especially at a time when much has been rumored about the very generous profit split in favor of the companies.

1.2 The draft laws envisage a production-sharing basis for foreign investment, the terms of which are mostly consistent with standard PSA agreements elsewhere, which may be considered generous to the contractors in Iraq, as will be shown later. The KRG retains the option to accommodate other forms of contracts.
Kurdistan Regional Government Hydrocarbon Law: A Commentary

Why is it so important?
Iraq ranks second in the world in oil reserves; it produces about two million barrels per day and exports less, in spite that Iraq needs to increase its revenue to meet the requirements of building, construction and raising the standard of living of citizens and this requires taking a host of measures to boost production and export of crude oil and natural gas. The most important of these measures are: the reinstatement of the Iraqi National Oil Company law because of its positive impact in achieving a better framework for the management of oil activity, the expeditious issuance of the necessary legislation in the management of wealth and investment so as to ensure the entry of specialized international companies in order to expand and develop productive capacities as well as increasing exports within a system that balances between the objectives of the State and investors to achieve better conditions for investment and competition.
http://www.iraqdirectory.com/DisplayNews.aspx?id=2877

When?

For more than three decades, foreign oil companies wanting into Iraq have been like children pressed against the sweet shop window - desperately seeking to feast on the goodies but having no way of getting through the door.
That could soon change.
The Iraqi Council of Ministers is expected to approve, as early as today, a controversial new hydrocarbon law, heavily pushed by the US and UK governments, that will radically redraw the Iraqi oil industry and throw open the doors to the third-largest oil reserves in the world. It would allow the first large-scale operation of foreign oil companies in the country since the industry was nationalized in 1972.
Iraqi government sources say the hope is to have the law on the books by March.


Independent Online Edition > Business News

1. WTO (World Trade Organization)

What is the WTO?
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
WTO | What is the WTO?
Big News!!!!
It is a little known fact that Iraq is now well on it’s way to becoming a fully-fledged member of the WTO. Iraq has now advanced to step 3 of the accession process and will most likely complete it without most Iraqis knowing it even happened.

On February 11, 2004, less than a year after the US invasion of Iraq, the country was granted observer status at the WTO. Four months before the US handed over “sovereignty” to an interim government in Iraq, the occupied territory had already taken the first step of accession into the WTO.

According to one trade publication, “Geneva based analysts were taken aback by the quick move, “I would have thought they would wait until the country was stable.”” (1) Even Ahmad Al-Mukhtar, Director General of Foreign Economic Relations of the Iraq Ministry of Trade, stated as fact the country’s instability. “As you know my country is now going through very severe times. We are in a stage of instability.” (2)

Yet Iraq had enough strong backers for it to get a unanimous vote at the WTO General Council at the first try, despite its instability. In the same meeting, Iran’s application for observer status, which has been on the table for the past three years, was blocked by the US for the fifteenth time. (3)

The US it seems, has been able to push Iraq’s accession so successfully that the members of the WTO and the secretariat itself overlooked the fact that Iraq does not even pass the first requirement of accession. Under WTO rules “Any state or customs territory having full autonomy in the conduct of its trade policies is eligible to accede to the WTO on terms agreed between it and WTO Members”. (Article XII of the WTO Agreement).

At the time of approval of observer status, which then WTO Director General Supachai Panitchpakdi declared as a first step to WTO membership (4), Iraq was still being run by Paul Bremer’s Coalition Provisional Authority (CPA).

But this did not deter the US’ determination to make Iraq a member of the multilateral institution. On September 30, 2004, Iraq submitted its request for accession to the Director General of the WTO. Before the year ended, in the December General Council of the WTO, a working party was established to examine Iraq’s membership application. Iraq also started drafting its Foreign Trade Regime Memorandum and the creation of a national committee for WTO accession, the third step to accession. Step two was in the bag and three was on the way.

And to make sure that Iraq would stay the course of accession, the US generously offered to help Iraqis prepare for negotiations. “The US government supports the Iraqi interim government’s efforts. To that end, we have invited a team of senior Iraqi officials and experts to the US to discuss trade issues, including preparation for WTO accession negotiations.” (5)
Focus on the Global South - ACCESSION THROUGH THE BACKDOOR: HOW THE US IS PUSHING IRAQ INTO THE WTO
When?


Negotiations for Iraq's entry into the WTO will begin in Geneva in February.
MENAFN - Middle East North Africa . Financial Network News: Iraq: WTO membership will not affect relations with GCC
After approval it takes 30 days after, to become a member.
Once approved by the General Council of Ministerial Conference, the applicant is then free to sign the Protocol of Accession stating that it accepts the approved “accessions package” subject to ratification in its national parliament. Normally three months is given from signature of the Protocol of Accession for this to take place.
Thirty days after the applicant government notifies the WTO Secretariat that it has completed its ratification procedures; the applicant government becomes a full Member of the WTO.

WTO | accession | member


Reval
Why?

With the news coming out yesterday on the handout. Families are going to receive between $50000 to $120000 dinar ($38USD to $91USD) for the first three months of the year and the last three months of the year, but the last three months doesn’t specify amounts of dinar. How is this going to impact the people? Don’t they need this RV?

The Inspector General in the Iraqi Ministry of Oil, Ali Mohsin Al-Allaq, confirmed that recent statistics showed that the average annual income of the Iraqi individual reached 41 dollars, and that 54% of Iraqis spend less than a dollar a day, so oil is the only future bet to raise the quality of life, services and living in this country.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2877

The people will be receiving almost double on average of the yearly income, and they are receiving this for three months. This is huge for the people.

Al-Allaq added in a statement that "Iraq ranks second in the world in oil reserves; it produces about two million barrels per day and exports less, in spite that Iraq needs to increase its revenue to meet the requirements of building, construction and raising the standard of living of citizens and this requires taking a host of measures to boost production and export of crude oil and natural gas.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2877

When?

I think we will see our RV sometime between April and September. Why you ask? Three things need to happen first, ICI approved and signed, HCL written into law, and Iraq becoming 151 member of the WTO. Iraq is working very hard on making these things to happen. George W. will not let them fail. And with the news on the handout, its doesn’t make sense to RV when they are going to give the average family $170000 dinar on the average over three months.

How Much?

1 to 1 or higher.
They want it to be currency of choice, for this to happen it has to be on par with the USD

A source in the Iraqi Central Bank explained that the exchange rate of the Iraqi dinar has risen significantly at the expense of the dollar in the daily auction of treasury transfers, numbered "876", given by the Central Bank for the sale and purchase of foreign currencies.

The source pointed out that the selling price landed with "1279" dinars to the dollar while the purchase price in cash was, "1277"; he stressed that quantity sold by the Bank amounted to 35 million and "555" thousand dollars, while the quantity purchased by the Bank was $ 4 million.

He added that the quantity sold in cash to banks and their customers amounted to 11 million and "040" thousand dollars while the quantity for making remittances outside Iraq hit 24 million and "515" thousand dollars; he ponted out that the sale price of remittances amounted to "1278" dinar while the cash sale price hit "12900".

It is noteworthy that the daily auction opened by the Central Bank is part of its policy which it followed three years ago to maintain stability of the Iraqi dinar exchange rate and to prevent its uneven prices compared to other currencies, as well as reducing the phenomenon of inflation.

Originally Posted by Lunar

Mr Knowles it is hardly necessary for comments such as this to be posted in a public forum.

Truth hurts and sometimes is hard to look at. Wm. speaks the truth.

Peace,

Looks like a comment is escalating into another tit for tat war of words, so even if no offense is not offensive to most, it can be to some, so lets just try to keep a lid on it so it goes no further.

Thanks, Mike

Originally Posted by DinarDevildog

When?

I think we will see our RV sometime between April and September. Why you ask? Three things need to happen first, ICI approved and signed, HCL written into law, and Iraq becoming 151 member of the WTO. Iraq is working very hard on making these things to happen. George W. will not let them fail. And with the news on the handout, its doesn’t make sense to RV when they are going to give the average family $170000 dinar on the average over three months.

How Much?

1 to 1 or higher.
They want it to be currency of choice, for this to happen it has to be on par with the USD

Although none of us know for sure when an RV will happen...I think these three are closer to being completed then we think.

ICI
Rice Remarks To Senate Appropriations Committee
We are also continuing to rally international support for Iraq's political and economic success in the form of the International Compact for Iraq. In March, dozens of countries will gather at the United Nations to finalize agreements on the compact. This compact outlines international responsibilities to Iraq as Iraq meets its responsibilities to its own people.
Scoop: Rice Remarks To Senate Appropriations Committee

HCL
Iraq poised to end drought for thirsting oil giants
Iraqi government sources say the hope is to have the law on the books by March.
Independent Online Edition > Business News

WTO
Iraq to join WTO, says U.S. source
"The Iraqi government is now getting ready to have its first dialogue with WTO in April 2007 in Geneva, Switzerland," Greg Howell, Director of Private Sector Development at the U.S. Agency for International Development (USAID), said in a press conference.
Iraq to join WTO, says U.S. source | Iraq Updates

Originally Posted by RetMil

Truth hurts and sometimes is hard to look at. Wm. speaks the truth.

On the contrary the truth does not hurt at all but it should have been taken to a PM.