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00:00 The two decades of differences between Baghdad and Kurdistan, northern Iraq,
00:05 the balance sheet, the oil investment, the volatility of wills and the geographical differences of borders,
00:11 all reflect negatively on the regional economy, which accounts for 13% of Iraq's economy.
00:17 The lack of political stability in the region,
00:21 the divisions between the parties and the rulers in the region,
00:25 and the regional interventions,
00:31 affect the economic situation in the region.
00:34 There was a high development in the region,
00:37 especially between 2005 and 2014.
00:42 But the differences with the United Nations and the differences within the region
00:47 affected the situation in the region.
00:50 The oil differences between Baghdad and Erbil are the most significant in the relationship between the two parties.
00:55 The region has 14 oil fields producing 453,000 barrels per day with foreign companies.
01:02 Baghdad, after 16 years of production,
01:05 changed its legislation to not approve the United Oil and Gas Law.
01:09 There are laws that are not implemented in the oil and gas law.
01:13 Therefore, the delay created a big crisis in the relationship between the center and the region.
01:24 Some political forces in Baghdad do not want to go towards the application of the oil and gas law,
01:30 because they fear that the beginning of a financial independence
01:35 will be followed by an administrative independence for the rest of the provinces and provinces.
01:40 The population of the region exceeds 6 million people.
01:43 The differences between the two governments of the center and Erbil affect their living standards,
01:47 because they delay the salaries of 1.2 million employees and are in a position to stay for several months.
01:52 This is a situation that reduces the unemployment rate by 16 to 23%.
01:57 If you do not have a strong law,
01:59 if you do not have legal power to support this investment in the country,
02:04 the investors are afraid. They come to benefit.
02:10 They benefit from the country and they benefit from it.
02:12 Unfortunately, this fear has become a problem after the Iranian bombing of Erbil.
02:19 The region is seeking to develop oil-exchange sectors to increase its share in local output.
02:24 A transfer of 23% of the economic activity,
02:28 while the tourism sector is 11% to 17%,
02:32 while the construction and construction sector is 7.8% of the total economic performance of the region.
02:39 The absence of political agreements in Baghdad to approve the oil and gas law and the non-unification of the Gomoroghi work,
02:44 with the delay in the establishment of administrative borders for the region,
02:47 are factors that throw a shadow over the living reality of the citizens here
02:50 and prevent a healthy relationship between the center and the region,
02:53 within a federal Iraq.
02:55 Raed Nabil, CNBC Arabia, Sulaymaniyah