Tuzmen: Limiting Foreign Exchange Outflow From Iraq With $10.000 Slows Down Trade

ISTANBUL - State Minister Kursad Tuzmen said on Sunday that limiting foreign exchange outflow from Iraq with 10.000 U.S. dollars slowed down trade.
Tuzmen held a press conference upon the 25th Anniversary Conference of the World Economic Progressing Zones Association (WEPZA) in Istanbul.
Upon a question on developments in limitation of foreign exchange outflow from Iraq with 10.000 U.S. dollars, Tuzmen said that initiatives regarding this issue continued with the United Nations, the U.S. government and Iraqi Interim Governing Council.
''We export products worth of 120 million U.S. dollars monthly. When it is split into packages of 10.000 U.S. dollars, transition of it to Turkey becomes very difficult. It slows down trade. This decision can be beneficial to neither people in Iraq nor other countries which export to this country. We said that it is a wrong decision and it is a decision which should be reviewed and corrected. We hope that it will be corrected in coming days,'' he said.
(EÖ-BRC) 19.10.2003