logo
Iraq bans Chinese-made Toyota vehicles

Iraq bans Chinese-made Toyota vehicles

Shafaq News5 hours ago
Shafaq News – Erbil
The Iraqi government banned on Monday, the import of Toyota vehicles manufactured in China, citing concerns over their suitability for local conditions.
At a press briefing, Sardar Hussein Al-Bibani, head of Toyota's Iraq branch, noted that these models were designed specifically for China's climate and environmental conditions.
'They do not meet the demands of Iraq's distinct climate and road infrastructure,' he emphasized.
The ban follows last month's announcement by the Central Organization for Standardization and Quality Control that Iraqi vehicle standards will become mandatory starting early 2026. Operating under the Ministry of Planning, the organization emphasized that the new import regulations aim to align with market needs and safeguard consumers.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Iraq to begin first phase of Development Road
Iraq to begin first phase of Development Road

Shafaq News

timean hour ago

  • Shafaq News

Iraq to begin first phase of Development Road

2025-08-11T18:16:05+00:00 Shafaq News — Baghdad On Monday, Prime Minister Mohammed Shia al-Sudani instructed the Transport Ministry to complete all requirements for launching the first phase of the $17B Development Road, starting with rehabilitation of the al-Faw–Fishkhabur railway. In a statement, al-Sudani underscored the project's strategic role in connecting Iraq to regional and global trade networks, citing strong interest from partners outside the Middle East. Officials examined detailed rail alignments to maximize operational efficiency, discussed financing the initial segment in next year's budget, and addressed key connection points along the corridor. The meeting also noted the World Bank's readiness to fund the first phase and modernize Iraq's railways. Anchored in the south by the Grand Faw Port—set to be the Middle East's largest— the corridor's early works include five berths, a 62 km access road, a submerged tunnel, and a container yard, all scheduled for completion by late 2025. Iraq's accession to the UN-backed TIR Convention has already halved freight transit times between Europe and the Gulf, reinforcing the project's economic potential. The Development Road is a planned 1,200 km freight and passenger corridor linking the Grand Faw Port in Basra to Turkiye and onward to Europe by rail and highway. It aims to cut transit times between Asia and Europe, boost Iraq's transit revenues, and spur industrial and urban growth along its route.

Iraq reports decline in domestic debt, public spending
Iraq reports decline in domestic debt, public spending

Iraqi News

time2 hours ago

  • Iraqi News

Iraq reports decline in domestic debt, public spending

Baghdad ( – The Central Bank of Iraq (CBI) announced on Monday a decline in public spending and domestic debt during May 2025. According to data released by the CBI, Iraq's public spending totaled 9.35 trillion Iraqi dinars ($7.13 billion) in May, a 1.48 percent decline compared to 9.49 trillion Iraqi dinars ($7.24 billion) in April. The country's public spending also declined compared to May 2024, when it reached 10.68 trillion Iraqi dinars ($8.15 billion), according to the CBI. Iraq's domestic debt in May was 85.50 trillion Iraqi dinars ($65.26 billion), dropping 0.05 percent from 85.54 trillion Iraqi dinars ($65.29 billion) in April and up 8.56 percent from the same month in 2024, when it was 78.18 trillion Iraqi dinars ($59.65 billion). The financial advisor to the Iraqi Prime Minister, Mazhar Salih, revealed in September that Iraq's foreign debts are less than $10 billion. Iraq's foreign debts, which include both sovereign and foreign private sector obligations, originate from the Paris Club agreement settlements and date back to before 1990, adding that these debts must be paid by 2028. In 2004, the Paris Club declared that it had achieved a deal to cut the $120 billion debt owed by Iraq by 80 percent over three years. Salih confirmed last year that Iraq has paid all the loans it has taken from the International Monetary Fund (IMF) since 2003, a total of just under $8 billion. Between 2003 and 2021, Iraq obtained several financing programs from the IMF, including emergency loans and long-term financial assistance, aiming to support the country's macroeconomic stability and financial reforms. In 2016, the IMF approved a financial program worth $5.34 billion to support economic reforms in Iraq. Within five years, Iraq paid out the loan in full after obtaining two-thirds of the total. Iraq sought a $6 billion emergency loan from the IMF in 2021; however, the loan was not granted because, at the time, it hadn't been linked to any of the IMF's initiatives. Iraq's engagement with the IMF was intended to assist in addressing the economic issues brought on by the decline in oil prices, which were connected to fluctuations in the balance of payments, as well as to promote government reforms.

Iraq bans Chinese-made Toyota vehicles
Iraq bans Chinese-made Toyota vehicles

Shafaq News

time5 hours ago

  • Shafaq News

Iraq bans Chinese-made Toyota vehicles

Shafaq News – Erbil The Iraqi government banned on Monday, the import of Toyota vehicles manufactured in China, citing concerns over their suitability for local conditions. At a press briefing, Sardar Hussein Al-Bibani, head of Toyota's Iraq branch, noted that these models were designed specifically for China's climate and environmental conditions. 'They do not meet the demands of Iraq's distinct climate and road infrastructure,' he emphasized. The ban follows last month's announcement by the Central Organization for Standardization and Quality Control that Iraqi vehicle standards will become mandatory starting early 2026. Operating under the Ministry of Planning, the organization emphasized that the new import regulations aim to align with market needs and safeguard consumers.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store