Baghdad and Erbil have reached an agreement to unify and simplify customs procedures and eliminate checkpoints between the Kurdistan Region and Iraq, the Finance Ministry has announced.
The ministry said in a statement on Wednesday (January 16) that "the Committee on Economic Affairs has made the decision to standardize customs duties at all border crossings – including the ports of entry in the Kurdistan Region – in order to collect customs duties, create a unified tax system at all ports, regulate the flow of goods, and stimulate trade."
The announcement follows several aborted attempts last year, which left traders confused and frustrated.
The committee also decided to abolish all current customs control and inspection points in the areas of Kirkuk governorate in order to encourage and develop internal trade and ease the flow of materials and goods.
He added that "the Committee also decided to regulate procedures for the trade of gold and precious metals in Iraq and authorized the Ministry of Transport to work at all border crossings."
The Commission committed all outlets to implement national product protection decisions and to adhere to the agricultural calendar in order to promote local products.
The ministry stressed that "these decisions are designed to promote economic growth, encourage and stimulate trade, support the private sector, simplify and standardize procedures in all state facilities, and provide the state budget with revenues derived from those decisions."
(NRT Digital Media)