Business

Turkiye: Economic relations with Iraq are warming up again

Trade Minister Omer Bolat will visit Baghdad with the representatives of the business world tomorrow. Within the framework of Minister Bolat’s visit, the issues of further strengthening the commercial and economic ties between the two countries will be discussed and attempts will be made to strengthen the role of Turkish companies in Iraq.

Economic relations with Iraq, one of the most important countries in Turkiye’s foreign trade, are warming up again. Minister Bolat will go to this country tomorrow with a delegation of business people.

Bolat will be received by Iraqi President Abdullatif Resit and Iraqi Prime Minister Muhammed Siya es-Sudani within the framework of the visit.

Bolat, who will hold bilateral meetings with Iraqi Minister of Commerce Etir Davud Selman Al-Greyri, Minister of Planning Muhammed Ali Temim, Minister of Transport Razzak Mheybis Acimi Al-Sadavi, Minister of Reconstruction and Housing Bengin Rekani, will also hold roundtable meetings with the participation of business people.

Within the framework of Bolat’s visit, the issues of further strengthening the commercial and economic ties between the two countries will be discussed and attempts will be made to strengthen the role of Turkish companies in Iraq.

Aiming to maintain record levels in trade

Exports to Iraq increased by 24% in 2022 compared to the previous year, reaching the level of $13.7 billion. In the same year, imports from Iraq increased by 24% to $10.4 billion, while the trade volume reached $24.2 billion. The figures regarding bilateral trade volume and exports to Iraq are record-breaking.

To date, 1080 projects worth $33.3 billion have been undertaken by contracting companies in Iraq. This figure has made Iraq the 3rd country in the world where the most projects are undertaken by Turkish companies.

It is aimed to maintain the record level achieved in bilateral trade with this country in a balanced structure and to increase the activities of contracting companies in Iraq.

Source: Trthaber / Prepared by Irem Yildiz

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