Currently there are no restrictions on imports and Iraqi industrialists complain that they cannot compete with cheap goods particularly those coming from China.
He said his ministry had prepared a draft law “and it will be presented to the cabinet for approval.”
He said goods were “sort of being dumped on the Iraqi market” at prices that are sometimes below those prevalent in countries producing them.
“This is an attempt to ruin the Iraqi economy and Iraqi companies,” he was quoted as saying.
Najafi said it was essential that the domestic industry had the necessary incentives to compete with foreign imports.
“We cannot grant the keys of our economy to others,” he added.
He said the country could not go on relying 100% on oil exports as currently the industry’s contribution to the national economy was almost nothing.
Najafi said one major way to lower unemployment rates was by reviving the national industry.
The ministry has embarked on a comprehensive plan of privatization and has started with cement factories.
The minister said two major cement factories were now in private hands and they have already seen a boost in production.
Najafi said he was “optimistic” about the future of the country’s industry and that “big leaps have been made” since 2003.
He said the pharmaceutical sector was making headway with sales hitting 60 billion dinars last year.
He said “big progress” was made by the state-run fertilizer companies and that the ministry’s engineering firms are currently constructing small-scale refineries in major Iraqi cities. (Source) Muthana Aidan, Azzaman