KTFA

Samson:  Completion of the second phase of a new border crossing between Iraq and Saudi Arabia via Najaf

18th February, 2021

Work continues on the completion of the work of the first and second stages of the land road that connects Najaf Governorate with the Kingdom of Saudi Arabia, which started its work since last December, after a hiatus that lasted for years, as this road is expected to contribute to reviving the tourist and archaeological areas, and increasing trade exchange between Iraq and Saudi Arabia.

The noble Najaf Governorate hopes to transform the "border control" with Saudi Arabia into a border crossing that includes areas for trade exchange, such as the Arar port in Al-Anbar Governorate, and the expected Jumima in Al-Muthanna governorate.

It is noteworthy that the relations between Baghdad and Riyadh have witnessed great development at various levels, as they culminated in the establishment of the Joint Coordinating Council between the two countries, with the intention to enhance trade and investment exchange between the two countries. 

The governor of Najaf, Louay Al-Yasiri, said in an interview with Al-Sabah newspaper, which was followed by Al-Iktissad News, that “the local government is seriously following up the implementation of this vital project,” while attributing the reasons for the delay to “the financial crisis and the war against ISIS terrorist in 2014, the same year in which it was referred Ministry of Construction and Housing Project for implementation". 

He pointed out that "this road will be available for pilgrims to the House of God who take the land roads, and it shortens a large part of the distance that pilgrims travel through the Arar border crossing," expressing his hope that "this project will make a major economic shift for the governorate because it will serve a lot of Agricultural, industrial and residential projects in that region, and there will be great openness by the maintenance of these areas because of the presence of this vital road". 

For his part, Director of the Roads and Bridges Division in the governorate, Haider Hamid Atshan, said, "The total length of the road is 239 km, which the Ministry of Construction and Housing is implementing in stages at a total cost of 168 billion dinars, and two phases of this road have been referred, with a length of 50 km for each stage."     LINK

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MilitiaMan:  Adding in that they are to have internal digital payments on 02/21/2021. Keep in mind the connected to the BUNA system too.

The Buna system is digital as well. Iraq's border's were to be digital or electronic on 01/15/2021. Trade minister offered 10% discounts if importers and exporters used the electronic system too. 

The next day 01/16/2021 the Chinese Joint Ventured with the SWIFT System to clear digital Yuan. Feb 04+- / 2021 JP Morgan was selected as the Bank to clear the USD on the Buna system. See the pattern here? I sure do.

A level playing field has a digital signature all over it.. imo.. I like what I see and soon to be even better!! All of the afore is not a coincidence.. It is imo by design. ~ MM

"Following the successful completion of trials, the digital transactions scheme will be activated with participating banks on Feb. 21, according to Asharq Business."

https://www.arabnews.com/node/1807766/business-economy

Barzani’s advisor: they agree with Baghdad regarding the region’s oil and Sesta's destinations  LINK

The Kurdish delegation reveals the latest results of its negotiations with Baghdad on the budget LINK

The Kurdistan government confirms that a quasi-agreement has been reached between Baghdad and Erbil  LINK

MilitiaMan:  It looks to me like they have a deal since 12/2020 and now seem to be hammering out past arrears. They mention there is debt installment payments that are to extend out 10 years.  They were audited and looks like they have some payments necessary to get settled up..

Looks like they have a new formula to use too. It goes to the thinking that a new formula is based of a future exchange rate differential. They will have to have be part of the electronic system at the borders to exclusively to the non oil revenues to the treasury. 

Sure looks like that last statement is to be a digital requirement.. A level playing field.. They sure seem to suggest that they will have this sorted this next week or between now and then anyway..

We shall see, but, know this, from the articles out about the White Papers and having the extreme pressure to alleviate the pain of 1460. The change to another era is just as important now than ever.

In my view, there is no going back.. imo A good thing.. imo ~ MM