Iraq 3-day conference aims at enhancing the Iraqi economic situation ...

May 24, 2011

BAGHDAD, The Iraqi Parliament patronized today the Conference on the Economic Future of Iraq, in cooperation with the United Nations and the International Bank.

The 3-day conference aims at enhancing the Iraqi economic situation and provision better chances for development.

Parliament Speaker Usama Nujaifi said that "Iraq has turned to the world's garbage dump through bad commodities that were imported, a matter would have not existed were it not for legislative shortcomings."

He added that new legislations will be made to rectify the situation.

Nujaifi called for re-activating factories and provide their protection, in order to make the Iraqis a productive force rather than a consumptive one.

UN envoy Ed Melkert stressed the importance of economic and political reforms, pointing to UN support to future stages in Iraq.

He designated five goals that will put Iraq at the center of progress.

These include decreasing unemployment among the youths, consolidating democratic rule through free formation of societies and associations and social justice via just distribution of wealth, where the workers will have their share.

The regional director of the International Bank in Iraq, Heidi Larbi, pointed to the importance of activating the infrastructure and liquidate institutional obstacles.

He added that Iraq needs 500,000 work opportunities each year, calling to enhance the private sector.

"The inflation of the public sector, increase in salaries, lack of legislations and non-partnership between the public and private sectors, all negatively affect the development of the private sector," he added.

The firs day's topics concentrated on reviewing the latest results of International Bank report on the activities and work in Iraq, as well as discussing labor and social security law and the future proposed law .

Many ideas and view points were put down to combat obstacles facing economic development in Iraq, as well as those related to obstacles facing the implementation of economic projects.
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