Wadih Al-Hanzal calls on establishing economic council

Head of Private Banks Association, Wadih al-Hanzal said that, improving industry, agriculture, trade and services in Iraq will only happens by creating a higher Iraqi economic council that includes the government, the parliament and the private sector. This council will put short, medium and long-term economic and financial strategic plans, find solutions for financial and economic crisis and benefit from other countries’ experiences.

He said that, the private sector wasn’t given the chance or the support that was promised to contribute in the sustainable development and it doesn’t hold a chance as long as the current ruling parties have no faith in it. “Is it the Iraqi government, parliament or circumstances that surrounded and paralyzed the private sector?” he continued.

He talked about the Iraqi Economic Forum that was established 2 years ago and contains 12 unions and organizations including the Private Banks Association, and how this forum came as an attempt to unify all efforts under one cause, in order to get the government, Parliament and society attentions to its potentials in the agricultural, industrial, services and crafts fields.

He stressed on the importance of the private sector’s participation in the process of the economic reform, competent government committees’ work, budget preparing, and official abroad visits with its representatives, adding that, this participation isn’t impossible and it should not be over looked.