Iraqi Dinar Experts Opinions 23-10-2013…
Source: Iraqi Dinar Discussion

23-10-2013 IDD Expert Terrence: Iraq and India are going to start trading in their local currencies. Is it beneficial for them?

23-10-2013 IDD Expert Colin: Trading in the local currency has always been useful for the countries. Iraqi currency already have lost its value in the international market and according to Indian trade minister, Indian Rupee has also lost its value up to 17% now. Therefore it will be a wise decision from both of the countries to minimize the influence of the dollar in the international market.

23-10-2013 Dinar Deals Expert: What is the role of India Iraq cooperation council in the trade of both countries?

23-10-2013 DG Guru: The role India Iraq cooperation council in the trade of both countries is very crucial. The council was established in 2010 by the mutual consideration of both countries to facilitate the businessmen in India and Iraq. The India Iraq cooperation council works as the nonprofit organization in Delhi. It supports the business community in both of the countries to enhance the trade volume between two countries.

23-10-2013 T123 Expert Justin Steave: Why India specified this council in Iraq?

23-10-2013 IDD Expert Colin: The India Iraq business relationships were very strong before the invasion of Iraq in 2003. Both countries were trading by keeping mutual benefits in the mind. After the invasion of Iraq, India continued supporting Iraq with its possible business help. The council played its vital role in rebuilding the country’s infrastructure and motivated thousands of businessmen towards investment in Iraq.

23-10-2013 DG Guru: What is the role of India in rebuilding Iraq?

23-10-2013 T123 Expert Justin Steave: India is playing a vital role in rebuilding Iraq by providing financial and technical and engineering facilities to the Iraq. The security situation in the country is better than 2010. India and Iraq companies are contributing in the development of Iraq by enhancing their business opportunities in the Iraq. India is ready to provide loan for establishing new industries in the Iraq on soft conditions.

23-10-2013  IDD Expert Jeff: What do you know the Jordan pipeline plan started by Iraq?

23-10-2013 IDD Expert Terrence: Iraq is planning to expand and increase its oil export according to their five year economic plans. For this purpose, Iraq is building 1040 mile pipeline from Iraq to Jordan. The red sea port of Aqaba will be the destination for this pipeline plan. The total estimated cost for this pipeline is $18 billion. The worldwide companies are filing quotations for this huge contract.

23-10-2013 Dinar Deals Expert: Iraq offers special oil price in India, is it true?

23-10-2013 T123 Expert Justin Steave: During the visit of Iraqi Prime Minister Noor Al Maliki in August 2013, offered this special offer for India to attract investment in the Iraq. Iraq is looking for worldwide investors in their rebuilding process and the offer is the part of this process. Furthermore, Iraq wants to achieve the goal of exporting 9.6 million barrel crude oil per day, therefore Iraq is trying to attract different countries to export their crude oil on special prices.

23-10-2013 ID info Expert Basil: What did Iraq offer in its special offer for Iraq?

23-10-2013  IDD Expert Jeff: This is very first time in the history of Iraqi business that it offered three oil fields in any country in the world on a nomination basis. One of the fields is expected to have more than 600 million barrel oil which will be extracted from that oil field. According to my point of view, this is one of the biggest offers for India for the crude oil.

23-10-2013 IDD Expert Terrence: What are the interests of India in Iraq?

23-10-2013 Dinar Deals Expert: According to the media and online economic journal reports, India is looking to establish oil refineries in the Iraq. India has also shown keen interest in the building petrochemical industry in Iraq after this offer of three oil fields at the nomination. The India Iraq Economic Cooperation Council is playing a vital role in confirming these deals between two countries.

23-10-2013 IDD Expert Colin: What does India want to import from Iraq?

23-10-2013 ID info Expert Basil: According to a report, liquefied natural gas prices are expected to increase in India till 2014. It is said that due to lack of this gas, the prices are expected to rise till the alarming situation in India. Therefore, India is very much interested in import of LNG from Iraq. Iraq is expected to become world’s second largest country after Iran. India is facing difficulties in trading with Iran due to UN sanctions.

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