New Import Rules Will Hit Regional Re-Exports

Iraq's trade ministry has called for all foreign brands importing cars into Iraq to set up local branches by 2012, rather than importing from distributors elsewhere in the region. As a growing number of international brands are attracted to Iraq's growth potential, the government believes it is losing out on tax revenue, with most vehicles coming from re-export hubs such as the UAE, Saudi Arabia and Oman. If companies do move to establish local units in Iraq, however, BMI expects this to dent the re-export business in these other

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