Legal procedures hinder contract signing

BAGHDAD / IraqiNews.com: The director general of the State Company for Construction Material Trade on Thursday said that cumbersome legal procedures have prevented it from signing new big contracts to import construction material. “The company depends on self-financing, approved by the U.S. civil authority in the aftermath of the collapse of the former regime in 2003,” read a statement released by the Iraqi Ministry of Trade and received by IraqiNews.com, quoting Raad al-Mas as saying. “Such restrictions prevent us from benefiting from huge offers made by companies and exporters, some of which are at very low prices…,” he explained. SS (P) 1