All non-citizens can open a Kuwait account either check or current account (however, only residents will be issued cheques or a cheque book. Checking account is basically a savings account without the interest rate).
Offshore accounts are usually opened by contacting the bank which you would like to open the account with, and proceeding with their instructions from there. One should note that the Kuwait Dinar currency is linked closely to the US dollar and will rise and fall in accordance with this as well.
The value of your account will increase or decrease with the strength of the US dollar, and with today’s economic climate, the weak US dollar, and the projected continuing debasement of the US dollar. You may wish to carefully the benefits as well as negatives of opening an offshore account in this country.
One of the main advantages of opening an offshore account, the political and financial stability of the country, may also be compromised somewhat by this country, as the stability of both Kuwaits government as well as the Middle East overall.
Kuwait has also fallen from 46th least corrupt country worldwide to 65th least corrupt, and is not highly ranked as the world’s most competitive economy at 35th. Considered to have a slow moving bureaucracy and inconsistent regulations. It may be hard to enforce any, ensure that one’s account is properly safeguarded and maintained, or recover any.
Privacy and customer confidentiality may also be somewhat compromised in Kuwait as well. Any tax treaty that this Kuwait has with other countries will force them to comply with tax authorities, regulation, and scrutiny from that country, and will all but erase any protection that it can provide the customer from that country’s authorities.
You will also have to comply with that country’s tax evasion inspections and requests as well. This country, somewhat more so than most, is difficult for non-citizens to open an offshore account in person, online, or independently. There is little information available for applying directly, or on your own.
You are advised to contact the bank directly for further information/instructions on how to open an offshore account. This country also strongly prefers to deal with potential new customers through professional intermediaries that will formally introduce the customer to the bank (these may include lawyers, consultants, or corporate officials) Often Kuwait will only accept new customers through this process.
Once formally introduced, the instructions for opening an account are often quite similar to that of opening an account in Bahrain. It is strongly advised that one hire a licensed attorney who specializes in offshore banking and offshore legal matters rather than a consultant or “offshore company”, as attorneys will have the most knowledge, experience, and expertise in offshore banking and finance.
Dealing with an attorney will also provide attorney client privilege; attorney client privilege is critical. This will prevent the attorney from giving out any of your personal information to others who may approach them for this data – consultants or offshore companies, who are not bound by any such rule, will often give out this information freely when pressured or offered payment.
If attorney client privilege is enforced in one’s home country, the attorney and law firm can lose their license if they give out this information; Hence it is also important that the attorney hired is from one’s own home country, or from a country known to firmly enforce this law.
When choosing whether to open a personal or corporate offshore account (associated with establishing an offshore company in that country as well), one must also take into account the fact that the two are not the same, are not managed the same way, and offer significantly different benefits.
Both personal and business types of accounts will offer confidentiality privacy. Asset protection from potential litigation, personal offshore accounts will offer tax exemptions in the form of little to no tax on capital gains, income, and inheritance, while corporate accounts will offer little to no tax filing and reporting, little to no annual tax on profits, reduced account auditing, reduced filing requirements, greater simplicity in operation, debt factoring, and deferral of profits.
Depending on the bank, a corporate account may also offer greater degrees of privacy than a personal offshore account. Corporate account wire transfers will not have your personal name listed as the sender or receiver (this may be especially beneficial for the country of Kuwait, as many wire transfers to and from this country are automatically highlighted and monitored for terrorist alerts and warnings. Wire system records are easily accessible, and your name can easily be discovered; All anonymity lost. This will erase the purpose of an offshore bank account for the majority of customers.)
Any debit visa card associated with a corporate account (this, again, depends on the bank) may also have the name of the corporation listed on it rather than your personal name, further erasing all anonymity.
Once your name is listed on a visa card it will go into the global visa database, which is also accessible with actually very little effort by anyone. Every time you use this card on the internet (for purchases, credit reports, etc.) this database is checked to verify that the name and address you entered with this card actually do match this card’s account information.
A personal account will usually have your name listed on your visa card, while a corporate account visa card will have a lesser possibility of doing this.
As you can see there are benefits that may outweigh the steps involved in diversifying your savings with Kuwait accounts. Determination to become a customer along with an obvious interest in the culture will serve as an asset in your quest to invest Kuwait style. Such accounts can be especially useful if you are planning to ship Iraq Dinar to and from Kuwait. Such endeavor will require incorperating a business in Kuwait also, even if you merely rent a mail box.
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This article may be reproduced online or offline as
long as this box remains the same and the link is
hyperlinked online. Written by Darren Chabluk for
http://DrDinar.com/blog
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Good Information.
Thanks,
Henry
Keep in touch
Thanks,
Eko
Tkank you , Darren…i hope a may need to look into this !!!
king regards, george
I wonder if an Iraqi Account would be just as safe as a Kuwaiti Account, as I have been with Warka Bank in Iraq now appx. 4-5 years, with no problems, even when investing in the ISX/Iraqi Stock Exchange. I would like to know the advantages of this over Iraq, as per the major differences. I am interested though, as it sometimes is wise to have several accounts and different avenues of protection as well, by diversifying!
Jim Cramer from CNBC news is my official trading coach. He talks diversification every Wednesday on the show. Serius Satellite radio channel 129.
More Information:
The end of an era. This is very reflective of the progress in Iraq in my opinion.
Remember it was Paul Bremer who set up the Coalition Provisional Authority/NSC
shortly following the invasion of Iraq. Looks like that is soon to be no more if
for no other reason because progress in Iraq has rendered it obsolete.
-Ken
Iraq: National Security Council May Be Dissolved
April 27, 2009
The
Iraqi government is considering dissolving the National Security
Council, Agence France-Presse reported April 27. The head of the Iraqi
parliament’s legal affairs committee Bahaa al-Araji said the National
Security Council has 426 employees, 20 times the number permitted under
its charted, and said the Iraqi cabinet voted unanimously to cancel the
Coalition Provisional Authority order establishing the council on April
23. Al-Araji said there will be no operating budget for the council
after the end of May.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Iraq: U.S. Withdrawal Will Not Be Delayed – PM
April 27, 2009
Iraqi
Prime Minister Nouri Maliki has said the recent increase of attacks by
militants are isolated events, which do not threaten Iraq’s overall
security situation and would not delay the withdrawal of American
forces, planned over the next two years, the BBC reported April 27.
Maliki added that Iraq’s security forces are capable of handling the
type of attacks now most prominent: “…there’s no need for delay,
because the kind of attacks we’re seeing now, using mentally ill women,
loading them up with explosives and having them blow themselves up -
that will go on.”
Iraq: Oil Ministry Announces Bonuses For Oil Fields
April 28, 2009
Iraq’s
oil ministry has increased the signing bonuses for international oil
companies to $2.6 billion for the six oil and two gas fields announced
in the first bidding round, Dow Jones Newswires reported April 28. The
Final Tender Protocol (FTP) listed the bonus for the Akkas and
Mansouriya gas fields at $200 million and $500 million for the Rumaila
oil field. The bonuses for Kirkuk and West Qurna oil fields are $400
million apiece and the Zubair, Missan and Bai Hassan oil fields are
$300 million apiece.
This post is suppose to be about Kuwait accounts and diversification.
Iraq not to tap hard cash reserves despite fall in oil prices
By Mostafa
al-HashemAzzaman,
April 27, 2009
Iraq has
denied reports that the slash in oil prices has forced it to tap its hard cash
reserves to meet a budget deficit.
Government
spokesman Ali al-Dabagh said Iraqi reserves at the Central Bank “will not be
touched” despite the budget shortfall.
Dabagh did
not say how the government would finance the deficit.
However,
privately government officials say the government banks on a promise by the Oil
Ministry to substantially increase output this year.
Deals have
been signed with numerous foreign firms to drill new wells and rehabilitate the
currently producing fields with the aim of boosting exports to more than 2
million barrels a day.
Iraq says
it has stashed away more than 70 billion in hard cash.
“The fact
that we have a budget deficit does not mean that the government will withdraw
its cash reserves from the Central Bank,” Finance Minister Baqer Jaber said.
“Once we
start using the reserves unwisely, it will adversely boomerang on the economy,”
the minister added.
Syria, Iraq: Railroad Link Launch In June
April 28, 2009
A new railroad linking Iraq and Syria will be launched on June 1 to facilitate freight shipments from southern Europe to the Persian Gulf, the Iraqi minister of transportation said April 28, Zawya reported.
U.K.: Iraqi PM Discusses Security, Investment
April 30, 2009
Iraqi
Prime Minister Nouri al-Maliki was meeting in London with his British
counterpart, Gordon Brown, on April 30 over security and economic
issues. The discussions came as Britain announced plans to complete its
troop withdrawal, after six years in Iraq, Agence France-Presse
reported. Al-Maliki and other officials also were encouraging business
leaders to invest in Iraq.
Iraq: U.S. Turns Over Oil Export Terminal
April 30, 2009
U.S.
and British forces have handed the Iraqi navy control over one of the
country offshore oil terminals, Reuters reported April 30. The Khor
al-Amaya platfor handles 10 percent of the oil exports out of the
southern city of Basra, and is the smaller of two platforms serving the
city. The other, larger floating oil terminal will continue to be
guarded by U.S. forces.
2009-04-29
Iraq stock exchange goes high-tech
ISX’s market capitalisation is about two billion dollars, fraction of total value
of shares traded on Saudi bourse.
By Jacques Clement – BAGHDAD The
introduction of electronic trading to Iraq’s stock exchange has taken
it one step towards modernity but it will be some time before it can
rival the bourses in its Arab neighbours.
Iraq desperately needs foreign investment
to rebuild its sanctions- and war-ravaged economy but on Sunday, the
one day of a three-day trading week when the electronic system
operates, the story is one of modest progress.
At the exchange in the Karrada district in
the heart of Baghdad, Mohammed Ismael, 55, looked up at brand new flat
panel displays showing stock prices for three of the five companies
listed on the new system. Two hotel groups decided not to show their share price.
“The value was too low so they did not post
them,” Ismael, the director of the Al-Qudua fund management company,
said, indicating that Iraq has a way to go before “freedom of the
market” is embedded in its stock exchange. “Hopefully, they will next week,” he
added. After a long delay, Iraq’s ISX opened the electronic trading system for
shares in five companies on April 19.
The exchange’s other 86 listed stocks
continue to be traded manually on Tuesdays and Thursdays in the
time-honoured open outcry system, with prices written on a large board. “We hope
in six months all shares will be transferred to the electronic system,” said ISX
chief Taha Abdulsalam.
The new bourse was set up in 2004, replacing the Stock Exchange of Baghdad created
by ousted leader Saddam Hussein in 1993. It took a year and a half to launch
electronic trading, from buying and installing equipment to training
brokers to operate the 50 trading screens on which deals are now
completed.
“It’s a big advance,” said Ali Jamal, 40, one of Ismael’s Al-Qudua brokers.
“With the manual system it took 15 to 20
days to obtain a share. Now you can buy and sell in a minute. It’s a
step towards the international market,” he added, commenting that Arab
investors are put off by Iraq’s paper system. Iraq now hopes to attract foreign
investors to the market after years of crippling UN sanctions imposed against Saddam’s
regime.
The ISX’s market capitalisation is about
two billion dollars, a fraction of the 270 billion dollars total value
of shares traded on neighbouring Saudi Arabia’s bourse.
About two million dollars worth of trades
are executed daily on the ISX, a figure that market bosses hope the
electronic system will increase.
The ISX would also like to open
sub-branches in Arbil, the regional capital of autonomous Kurdistan,
and Mosul, Iraq’s second largest but violence-torn city.
“The aim is to allow the brokers to work in
their own offices,” said Abdulsalam. “In the long term you will
probably not see anyone here.”
In an indication that the days of open
outcry may be numbered, the size of the “pit” has also been reduced by
the space needed to house the recently-arrived computers.
At the moment, “it’s like a club,” said
Abdulsalam. “Some people arrive three hours before the opening of the
exchange to discuss business and the economy.”
In the main room, small groups look up at
the screens showing the five companies being traded, in modest volumes.
Some voiced regret that English was chosen as the common bourse
language rather than Arabic.
“We need more screens and a bigger room where one can reflect,” said 60-year-old
Salman Salman.
“It is the right time to invest in Iraq
because shares are cheap,” he said, holding out a 500 Iraqi dinar note
(worth about 42 cents).
“With this you can buy a bottle of Pepsi in Baghdad in a shop. Here you buy 500
Pepsi Baghdad shares.”
http://www.middle-east-online.com/english/?id=31773
U.S., Iraq: No Delays On Troop Withdrawal – Official
May 4, 2009
The
U.S. military will not need to slow down its troop withdrawal from
Iraq, Reuters reported May 4, citing U.S. Joint Chiefs of Staff
Chairman Adm. Mike Mullen. Mullen said the United States still plans
pull troops out of Iraq by August 2010 despite the increase in violence
that has occurred in recent weeks. He added that the U.S. military is
“watching all that very carefully” but indicated that the violence will
not delay the withdrawal time line.
Iraq Plans to Produce 6 Million b/d
Iraqi Minister of Petroleum Hussein al-Shahristani has told Al-Sharq Al-Awsat
that his country plans to increase its crude production from the
present level of 2.4 million b/d to 6 million b/d, within the next five
to six years.
Iraq plans to announce soon the selection of two
foreign oil companies to develop six giant oil fields, with a
production capacity of 1.5 million b/d.
A second set of licenses will be issued to oil
companies to develop 10 additional oil fields, with a production
capacity of 2 million b/d.
There remain 50 oil fields, which would need to be
developed in order to make Iraq a leading producer of oil and gas in
the world.
Source: Al-Sharq Al-Awsat, London, May 4, 2009
Posted at: 2009-05-04
http://www.thememriblog.org/blog_personal/en/16090.htm
This is very big news and could set up a situation that is favorable to having the
long awaited hydro-carbon law (HCL) finally pass. Some have speculated that the
Iraqi government wants the HCL pass prior to allowing their currency to go international
and or to rise in value.
Hope this is helpful,
Iraqi government OKs crude oil export from self-ruled Kurdish region
Associated Press
Thanks for your insight and research Henry…
‘Iraq forms panel to press for lifting sanctions under Chapter VII’
Iraqi Foreign Minister Hoshyar Zebari announced on Tuesday that his government has set up a panel tasked with coordinating steps and contacts with major foreign players to rid the country off all the sanctions imposed under Chapter VII of the United Nations Charter.
“The move coincides with the preparations for the regular review of the issue by the UN Security Council,” Zebari said in a joint press conference here with visiting Portuguese Foreign Minister Luis Amado.
He said he met the government panel on Monday to outline Iraq’s official position of which will be presented to UN Secretary-General Bank Ki-moon ahead of the review, due to take place later in July.
The panel is made up of Zebari and the ministers of defense, justice and interior as well as advisors to Prime Minister Nouri Al-Maliki. “The panel has mandated a delegation to start urgent moves to create the atmospheres conducive to lifting the sanctions in tune with the UN Security Council Resolution 1895,” the minister revealed.
He urged revision of all UN Security Council (UNSC) resolutions pertaining to Iraq in a bid to find a way out of the sanctions. “We pursue a calm practical and systematic approach to the issue away from the media buzz. We have outlined sound positions about which you will hear good news in the near future,” Zebari added.
Under the UNSC Resolution 1895 Ban is scheduled to present a report to the UNSC about the sanctions on Iraq later this month. In August, 1991, the UN Security Council imposed crippling sanctions on Baghdad a year after Iraqi forces under Saddam invaded Kuwait.
Ban said during a visit to Baghdad in February that the UN is considering scrapping all sanctions. Most of the sanctions have been cancelled but an arms embargo and some financial restrictions are still in place.
Kuwait News Agency July-08-2009
Research and Foreign Minister Hoshyar Zebari, with UN Secretary-General Ban Ki-moon, the position of the Iraqi government from the review process of the UN resolutions imposed on Iraq under Chapter VII of the Charter of the United Nations.
A statement by the Ministry of Foreign Affairs received a copy of the Tigris Radio on Wednesday that Foreign Minister stressed during his meeting with Moon in New York that Iraq has applied many of the international obligations imposed on him over the years, including the situation relating to Iraq and Kuwait.
Zebari stressed the need to include the report of the Secretary-General to the Security Council in the coming period on the specific timetable for exit from the consequences of Iraq’s Chapter VII.
For his part, UN Secretary-General on the understanding of Iraq’s legitimate demand to get rid of the restrictions of Chapter VII and the restoration of its natural and legal position in the international community, stressing that his report will clarify the obligations objectively by Iraq and the rest of them and how to address the outstanding issues.
http://snipurl.com/namdd [translate_google_com]
Emerging-Market Debt Gains to ‘Slow,’ JPMorgan Says
By Lester Pimentel and Drew Benson
July 13 (Bloomberg) — Emerging-market bond gains will “slow” in the second half of 2009 as corporate defaults climb and interest-rate cuts end, JPMorgan Chase & Co. said.
Emerging-market yield spreads will finish the year at 400 basis points over U.S. Treasuries, JPMorgan analysts led by Joyce Chang wrote in a report dated July 10. A basis point equals 0.01 percentage point. Inflows into emerging-market debt funds will be “subdued,” the report said.
Central banks in Asia, Central and Eastern Europe, the Middle East and Africa will end rate-cutting cycles next year, while most in Latin America will continue to reduce borrowing costs until as late as 2011, the report said.
Israel and the Czech Republic will be among the first nations to raise rates next year “if there is a synchronized global recovery,” the analysts said. Chile is the exception among Latin American nations, with rate increases possible in mid-2010.
The extra yield that investors demand on emerging-market bonds instead of U.S. Treasuries narrowed four basis points to 4.46 percentage points, according to JPMorgan’s EMBI+ Index.
JPMorgan recommended investors take an “overweight” position on Argentine and Venezuelan bonds. The bank raised Argentina from “market-weight” after June 28 mid-term elections in which President Cristina Fernandez de Kirchner’s ruling coalition lost its majority in the legislature.
“Major economic policy changes are not expected as the administration formally holds office until 2011,” the report said. “However, the broad-based defeat of government candidates curbs the downside risk from potential anti-business initiatives.”
Peru Cut, Iraq Raised
JPMorgan cut Peru to “market-weight” from “overweight” on growth risks and rising political uncertainty and lowered El Salvador to “underweight” from “market-weight” on a slump in remittances from Salvadorans working abroad. The bank upgraded Iraq to “market-weight” from “underweight,” citing “notable improvements in the security situation.”
On foreign exchange rates, JPMorgan said “most emerging market currencies are now at close to fair value with only the Mexican peso and the Hungarian Forint remaining cheap.”
To contact the reporters on this story: Drew Benson in Buenos Aires at abenson9@bloomberg.net;
Last Updated: July 13, 2009 15:57 EDT
http://www.bloomberg.com/apps/news?pid=20601086&sid=ahZ69qZjsEJM#
THE WALL STREET JOURNAL
JULY 10, 2009 Iraq’s Premier Maliki Says He Plans to Thank U.S. for Sacrifice
By GINA CHON
BAGHDAD — Prime Minister Nouri al-Maliki struck a conciliatory tone ahead of his trip to Washington, talking about his gratitude for U.S. sacrifices in Iraq, and offering to negotiate a settlement between Iraq’s federal government and the country’s Kurdish enclave as tensions heighten between the two.
In an interview with The Wall Street Journal as he prepared for a visit to the U.S. on July 21, Mr. Maliki said he planned to thank America for its shared sacrifice with the Iraqi people in the tumultuous post-Saddam Hussein years since the U.S.-led invasion in 2003.
“We have [achieved] a combined victory against terrorism, and there have been sacrifices from both sides that brought fruitful results and democracy to Iraq,” Mr. Maliki said.
During the June drawdown of U.S. troops from Iraqi cities, Mr. Maliki praised the Iraqi security services’ ability to take over from American forces. But he shied away from offering praise or thanks to U.S. soldiers.
Some American commanders have said they understood that Mr. Maliki’s seeming slight was driven by domestic politics. Still, a gesture by Mr. Maliki acknowledging U.S. sacrifice could help to placate some rankled American commanders on the ground.
Meanwhile, the rising tension between Baghdad and the Kurdish government is emerging as one of the biggest concerns among local and U.S. officials and military commanders this summer.
In the interview, Mr. Maliki accused the Kurdish Regional Government of “provocations,” including a controversial draft Kurdish constitution and alleged territorial incursions by the Kurds’ armed militia. But he also said he was convinced the two sides could settle their problems through dialogue.
Interview Transcript
“The facts on the ground show that self-discipline is something we need at this stage. Yes, they are crossing the green line and other things they are doing are unconstitutional. There are a lot of other differences, like circumventing the central government authority.”
– See below for More from Mr. Maliki’s interview
“Self-discipline is something we need at this stage,” Mr. Maliki said in his office at the prime minister’s palace here. “I am struggling for the unity of Iraq, and Iraq cannot be divided into two.”
Some American commanders worry that political squabbles centered on Kurdistan — a semiautonomous region governed by the KRG — could erupt into fresh violence. For years, Iraqi officials in the federal government in Baghdad and in the KRG have sparred over issues such as oil-revenue distribution, the right to award oil-exploration contracts, and the Kurds’ armed militia.
Last month, tensions rose after Kurdish politicians approved a draft constitution for their region. The document, among other things, claims for the KRG territory long fought over by both sides, including the oil-rich area around Kirkuk.
Kurds are to vote for a new parliament and president on July 25. Kurdish parliamentarians had hoped to subject the draft constitution to a referendum the same day, but Iraq’s federal electoral commission ruled that out.
Senior U.S. military commanders are closely watching several areas of northern Iraq where Iraqi Army soldiers and Kurdish militia are across from each other. A senior U.S. officer who served in Iraq last year said the two sides came close to outright combat in 2008.
Mr. Maliki’s key challenge for the rest of the year will be maintaining security amid the U.S. pullback, while flexing Baghdad’s growing sovereignty in security matters. In the latest sign Washington is eager to turn over more security responsibility to Iraqis, the U.S. on Thursday released five Iranian diplomats to Iraqi authorities. The Iranians were detained in northern Iraq in 2006, suspected of aiding Shiite extremists. It is unclear whether Baghdad intends to press charges or turn the Iranians over to Tehran.
-Yochi J. Dreazen in Washington contributed to this article.
JULY 9, 2009, 5:17 P.M. ETTranscript: Iraq’s Maliki on the Kurds
‘Self-Discipline Is Something We Need,’ To Achieve National Reconciliation
Iraqi Prime Minister Nouri al Maliki sat down with The Wall Street Journal’s Baghdad correspondent, Gina Chon, for an hourlong discussion ahead of his visit later this month to the U.S. In this edited transcript of a portion of his interview, he discussed the sometimes-rocky relationship between Baghdad and the semi-autonomous Kurdish Regional Government, as well as his hopes for his American visit.
* * *
The Wall Street Journal: When Vice President [Joe] Biden came [to Iraq], one of his focuses was political progress and reconciliation here. How do you think [a recently proposed draft] Kurdish constitution has hurt those efforts? Do you feel like there is good faith on their part to really cooperate with Baghdad?
Nouri al-Maliki: I have some ideas that we gave to [Mr.] Biden and some solutions. He said he is going to talk to the Kurds about this. I told him that they should leave the referendum on the constitution because it will make a lot of trouble and create a lot of differences. These things should be solved by dialogue. He [Mr. Biden] said this is my opinion, too, and he will advise them to do that, and he will tell them your friend Maliki is also advising the same thing. And they received that message and they are postponing the referendum. This is also a success that [Mr.] Biden supported our views. And [Mr.] Biden was also very firm that national reconciliation is an Iraqi matter and we [the U.S.] will support you in this if you need us.
WSJ: The Kurds have been coming close to the green line [Kurdistan-Iraqi border] and you have said they have sometimes crossed it. But, on the other hand, they have talked about their worries of another Anfal campaign. [More than 100,000 Kurds were killed in the Saddam Hussein-led Anfal campaign against the Kurds in the 1980s.] How confident are you that this can be solved just through dialogue and without a physical fight?
Mr. Maliki: The facts on the ground show that self-discipline is something we need at this stage. Yes, they are crossing the green line and other things they are doing are unconstitutional. There are a lot of other differences, like circumventing the central government authority. Of course, these are provocations and this will damage relations. But it doesn’t mean that these differences are very difficult or cannot be solved. These are differences only, and we can base things on the constitution. This is right that we are upset that they are crossing the green line but we are not worried because there is a constitution and we can tell them they are violating it. And there are federal courts.
I am struggling for the unity of Iraq, and Iraq cannot be divided into two. So these differences between Kurds and the central government and provocations from the Kurds are still in one circle in Iraq so it can be solved. If it spreads to outside Iraq, we will have other problems. Like, if the Kurds involve Iran, Turkey, it will be worse. The same thing happens when there are differences between Anbar and Karbala provinces, but it’s a problem happening in Iraq.
WSJ: You are going to America soon and this will be your first visit there since President [Barack] Obama took office. I know you had a close relationship with President [George W.] Bush. Are you worried that with the new administration, they still don’t understand you or the Iraqi government? Are you worried that they have stereotypes about you being a Shiite controlled by Iran or that because you are Muslim, you want an Islamic government?
Mr. Maliki: No, I don’t need to explain everything from the beginning. [Messrs.] Obama and Biden are from the Democratic Party, but they were senators before and they are people who know the details of Iraq. But if they want to make sure of a few things, if they have some questions, I will explain everything. And I know my relations are still new with [Mr.] Obama, but it’s not lower than what I had with [Mr.] Bush. And of course both of them, [Messrs.] Bush and Obama, want what benefits America, and I still want what benefits Iraq.
WSJ: What message do you want to convey during your visit to America, especially since it comes after the June 30th withdrawal of American combat troops from Iraqi cities?
Mr. Maliki: The message will be to ensure the basis of our relations and our friendship, which is a long-term strategic relationship. There are many parts to that, like trade and investment. I will convey the wish of Iraq for friendship with the U.S. We have a combined victory against terrorism, and there have been sacrifices from both sides that brought fruitful results and democracy to Iraq. Also, we will emphasize the two agreements, the strategic framework agreement and the withdrawal [security] agreement. Also, I’ve met a lot of officials from the U.S. but I still need to meet many of them because friendships must be clear. If we increase the number of meetings and we have questions in our minds, we can ask them and answer them in person so that our friendship is clear.
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Iraq to enter 3rd WTO accession negotiations round
Aswat Al Iraq – [8/23/2009]
The national commission on Iraq’s accession to the World Trade Organization (WTO) discussed some important items to raise during the 3rd round of negotiations in Geneva during the next few months, according to a release by the Iraqi Trade Ministry on Sunday.
“The commission took up several files that would be subject to discussions with the WTO secretariat in the forthcoming round of negotiations scheduled to be held in months,” read the release.
“Participants in the meeting said that the commission has so far accomplished more than 100 out of a total 155 sectors in the fields of services, communications, tourism, agriculture, financial services, insurance, controls on opening of foreign banks in Iraq, transport and computers,” added the release.
http://www.iraqdirectory.com/DisplayNews.aspx?id=10243
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Ali Agha on CNBC for Dinar Trade
http://dinarspeculation.com/2009/10/28/alliajha-from-dinartrade-on-cnbc/