FICC: KSA , UAE have allocated $6 billion to support their operations in Iraq

Baghdad-INA
The Federation of Iraqi Chambers of Commerce(FICC) announced on Sunday, that it had reached an agreement with the UAE and Saudi Arabia to form business councils, while noting that Saudi Arabia and the UAE have allocated $6 billion to support its operations in Iraq.

The head of FICC, Abdul al-Razzaq al-Zuhairi, told the Iraqi News Agency (INA): "Iraq must keep pace with the world and shape the trade process globally, taking into account the standards of the World Bank, and have complete automation in the process of entry and exit of goods," stressing "the need to have There is a complete program at customs and ports."

He added, "The first step began with registering data for merchants and registering companies, and this is a great support that we got from the Council of Ministers and the United Nations, and we have reached a good stage."


Al-Zuhairi continued, " we have entered the (Swift) stage Now, meaning that the transfer of money in the world of trade, the importer and the exporter, is known, which will make Iraq one of the developed countries."

He pointed out, "The federation is among its tasks to establish business councils and conclude agreements, as we reached with Saudi Arabia and the UAE to form business councils, to improve trade with the two countries," noting that "the desire is not only in trade, but in the establishment of investment projects."