Dumping, lack of govt. subsidy behind industry deterioration in 2008 – trader

BAGHDAD / IraqiNews.com: A trader in the Iraqi Stock Exchange (ISX) on Sunday said that the industrial sector’s activities were not up to ambitions this year, blaming its deterioration on dumping and lack of industry ministry control and government subsidy. “The access of Chinese products, which are much less in price than the local products, to the Iraqi markets has caused Iraqi companies’ sales to grow lower,” Adel Abdelamir, the broker for Albatech company in the ISX, told IraqiNews.com. He said that the light industries company has not registered profits this year due to its meager volume of sales. There are about 29 industrial companies of diverse activities listed on the ISX. The industrial index trading opened at 11.363 points at the first session this year and closed at 11.776 points last session. AmR (P) 1