Eco
Iraq's Ministry of Transport intends to activate the land transport agreement for goods between Arab countries, a step aimed at boosting trade movement and opening new horizons for the private sector across the country. The Ministry's International Cooperation Committee is finalizing procedures for activating the agreement, which is currently under discussion by the Council of Ministers for approval and subsequent ratification. The pact outlines regulations for goods transport and safeguards national carrier rights. The Ministry is holding meetings to review its articles and implementation mechanisms for signing, with legal procedures to culminate in parliamentary ratification. This activation goes beyond making Iraq a mere transit route; it will transform the country into a regional hub for investment, industrial establishment, and enhanced local production. This will be achieved by establishing land transport lines connecting Iraqi products to Arab markets, encouraging investors to direct projects within Iraq. Moreover, the anticipated increase in truck and cargo movement across Iraqi territory will directly stimulate economic activity. This includes revitalizing local markets, raising demand for transport-related services, and creating new jobs in logistics, transport, and supporting sectors, thereby strengthening the private sector's contribution to the national economy. The agreement's activation aligns with government goals to maximize resources, invigorate foreign trade, and foster the private sector. It also leverages Iraq's strategic geography to build efficient trade corridors linking Arab markets with the region, reinforcing the nation's standing as a key transport and logistics center and supporting future economic development plans.
