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Trade Minister Mehmet Mus: We have reached a bilateral trade volume of $20.7 billion with Iraq

Regarding trade with Iraq, Minister of Trade Mehmet Mus said, “The target of reaching a bilateral trade volume of $20 billion in the short term was set by our Presidents. I am very proud to state that as of 2020, despite the epidemic, we have exceeded this target and reached a bilateral trade volume of $20.7 billion.”

Trade Minister Mehmet Mus attended the Turkey-Iraq Business, Investment and Contracting Forum. The forum held at a hotel in Sisli was attended by Minister Mus, Iraqi Deputy Minister of Transport Talib Abdullah Baish, Iraqi Minister of Commerce Alaa Ahmed Hassan Obaid, Foreign Economic Relations Board (DEIK) Chairman Nail Olpak, and representatives of Iraqi and Turkish business world.

“Iraq is a neighbor we always attach importance to,” said Minister Mus, “Although in Turkish, ‘Iraq’ literally means ‘far’, but Iraq is very close to us both in terms of heart and geographically. The bonds of brotherhood between our peoples are very strong. For this reason, ensuring permanent stability and security in Iraq is of paramount importance for Turkey. For us, Iraq is not only a border neighbor, but a brotherly country to which we are bound by ancient historical and cultural ties.”

“I AM GRATEFUL TO REPORT THAT WE HAVE REACHED $20.7 BILLION OF BILATERAL TRADE VOLUME”

Minister Mus said, “When we join hands in accordance with the advice ‘There is mercy in unity, there is suffering in separation’, we see that we have achieved all our goals and that there have been important developments especially in our bilateral trade relations. In this context, as you may recall, the target of reaching a bilateral trade volume of $20 billion in the short term was set by our Presidents in 2019. I am very proud to state that as of 2020, despite the epidemic, we have exceeded this target and reached a bilateral trade volume of $20.7 billion. This success undoubtedly belongs to the valuable and self-sacrificing business people of our countries, despite all the turmoil in the Middle East geography. I am sure that our economic cooperation will strengthen our solidarity in other fields as well. And thus, the strong commercial ties we have established will bring development, and development will bring more prosperity to our peoples.”

“OUR 11,500 COMPANIES HAVE EXPORTED TO IRAQ”

Pointing out that Iraq and Turkey are two important trade partners, Mus said, “In 2020, Iraq ranks 4th in our country’s exports to the world. Our country ranks 3rd in Iraq’s exports to the world. In 2020, approximately 11,500 of our companies exported to Iraq. There is a rich product variety in our exports to Iraq, and I would like to emphasize that almost all of our sectors do business with Iraq. In addition, before the epidemic, 1.3 million Iraqi citizens came to our country from Iraq for health, education and other purposes in 2019. Thanks to these contacts and commercial relations, the cultural bond between our peoples is strengthened.”

“TOTAL COST OF THE PROJECTS WAS $6.5 BILLION”

Minister Mus said, “The total cost of the projects undertaken by Turkish companies since 2017 has reached $6.5 billion. We hope that this figure will reach much higher levels in the coming period. With the said event, I foresee the establishment of very beneficial collaborations both for the reconstruction, development, peace and welfare of Iraq and for the economy of our country, and I believe that these collaborations will further strengthen the bond between our country. Turkish contracting companies are ready to take part in all kinds of projects to be implemented in the coming period, with their experience, as well as the advanced technology and skill level they have achieved. Today, we are confident that our business people and Iraqi employer administrations will have very productive meetings. On the occasion of the Forum, our business people will connect for investment and contracting projects as well as product trade; and they will be able to hold direct talks with the valuable representatives of the Iraqi delegation.”

Source: Sabah / Translated by Irem Yildiz

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