Local products cover 10-15% of the local market's need, official says

Shafaq News / The Baghdad Chamber of Commerce confirmed today that imposing a policy to prevent imports is not efficient.

The chamber's chairman, Firas al-Hamdani, told Shafaq News agency that the government is not aware of the country's economic situation, since its a consuming non-productive country, noting the restrictions on import operations are not complicated.

He added that preventing importing stuff creates a state of confusion and non-balance, pointing out that Iraq has an open free economic system that allows investments, and not a socialist one.

Al-Hamdani revealed that the local production does not cover more than 10-15% of the local market's needs, adding that the policy to support the local product must be applied when the latter covers 60-70% of the local market needs.