Iraq Revises Import Tariffs as part of a wide-ranging plan to protect local industries and balance consumer demand. On Sunday, the Ministry of Trade announced several strategies that aim to improve the local economy and reduce reliance on foreign goods.
According to Trade Ministry spokesperson Mohammad Hanoun, Iraq revises import tariffs to create fairer conditions for domestic production. The goal is to improve competitiveness while still ensuring that the market meets consumer needs.
The new plan includes a regular review of banned and restricted goods. This process will happen in cooperation with relevant ministries. It ensures that imported goods do not flood the market or hurt national industry. Local products will also be prioritized in government contracts to strengthen the economy.
In addition, the ministry will tightly control the import license system. New licenses will only be issued after analyzing local market demands and factory capacity. This will stop unnecessary imports that damage the production sector.
The ministry will also work closely with customs and security forces to monitor borders. The goal is to prevent low-quality or unauthorized goods from entering Iraq. Better border control will protect both producers and consumers.
Moreover, the government is partnering with trade unions to ensure that decisions support the private sector. With this in mind, Iraq revises import tariffs on foreign goods that have local substitutes. This encourages the use of homegrown alternatives and reduces dependency on imports.
Finally, the plan includes a measured expansion of trade with other countries. The government will negotiate fair agreements that protect national interests and promote growth. The Ministry of Trade will regularly review the tariff reform plan based on market needs and production capacity.
Officials stressed that supporting domestic industries is essential for long-term economic stability and reducing dependency on foreign goods. They also urged Iraqi manufacturers and investors to take advantage of these reforms by expanding operations and improving product quality.
