Border trade value increases after automation of border stations
Cross border trade in the first three months of this year has generated nearly 20 percent more revenues than the same period in 2016 after authorities installed automatic electronic system in the main border stations in January this year, according to office of Kurdistan Region Customs Service.
"The automation process has had an immediate and relatively large impact on the overall revenues from our two main border crossings with Iran,” the manager of the office Samal Abdulrahmam told Rudaw.
Abdulrahman said the trade had increased also as the war with the Islamic militants in Iraq neared its end and oil prices stabilised on the world markets.
Both border crossings of Haji Omran and Bashmakh on the Iranian border have been connected to the electronic system and work to cover other international stations on Turkish and Syrian borders are underway and expected to be complete before end of this year, according to the office.
Authorities said last week that the electronic system will be installed in all Kurdish border crossings this year to cope with the increasing number of visitors and cross border trade.
The ministry says that the trade volume between Turkey and Iraq in 2013 surpassed $12 billion but gradually dropped to $8,5 billion in 2015 as the ISIS war raged.
Kurdistan Region administrates four international stations on Turkish and Iranian borders with an annual trade volume of $15 billion in 2013 before the country plunged into economic recession.
The total volume of revenues from all Kurdish border stations has been 560 million dinars ($4 million) in 2016.
Kurdistan Region’s two international airports, Sulaimani and Erbil, will also be connected to the electronic system to enhance trade and prevent mismanagement of revenues, the office has said.
viewers
1336