ERBIL, Kurdistan Region - Iraq plans to reopen its government-regulated central markets to support internal trade and enhance the economy, a trade ministry official said on Sunday. The initiative aims to offer essential goods at fixed prices and revitalize domestic production.
“If the Kurdistan Regional Government is cooperative, we are ready to open central markets in the Kurdistan Region,” Zahra al-Gailani, the head of the central markets company at the Iraqi trade ministry, told Rudaw.
Iraq previously had 19 central markets, which were closed following the US invasion in 2003.
Central markets are government-regulated venues; wherein, essential goods are sold at fixed prices to ensure that basic necessities, such as food, clothing, and household items, are available to the public at affordable and subsidized prices.
“Priority will be given to internal trade, revitalizing the country’s economy,” Gailani said. “These markets allow people to access goods and services at lower prices while enhancing internal production.”
Gailani added that they plan to renovate three commercial centers in Erbil, Duhok, and Sulaimani to function as central markets. Additionally, three markets are set to open in Baghdad, with potential for further expansion to other provinces, including Kirkuk and Nineveh.
Gailani noted that Kirkuk already has a location in the northern part of the city ready for renovation, while in Nineveh, debris from the war with ISIS must first be cleared before work can commence.
The Erbil central market was located south of the citadel along Kirkuk Road where the fountains and gardens of Shar Park currently exist.
Nahro Mohammed contributed to this report
