Economy News – Baghdad
The Iraqi embassy in Ankara recently hosted a symposium aimed at outlining the framework for providing entry incentives to Turkish investors while highlighting the promising investment opportunities poised for development in Iraq by 2025. Ambassador Majid Al-Lajawi emphasized that the trade exchanges between Iraq and Turkey have surpassed $15 billion.
The event was attended by key officials, including Muhammad Mufid Aiden, Chairman of the Turkish-Iraqi Parliamentary Friendship Committee, Hussein Al-Sabari, Deputy Chairman of the Parliamentary Investment Committee, and Fatima Yazkan, Director of Immigration Policy at the Turkish Foreign Ministry. A significant number of Turkish entrepreneurs and investors were also present.
In his address, Ambassador Al-Lajawi reiterated the Iraqi government’s commitment to streamlining visa procedures for Turkish investors, highlighting this initiative as a means to foster economic collaboration and eliminate any stagnation in bilateral relations. He remarked, “The embassy has undertaken significant efforts with relevant authorities to secure special exemptions permitting direct entry features for Turkish investors.”
Ambassador Al-Lajawi discussed the robust economic ties between Iraq and Turkey, affirming that Iraq is eager to welcome investments across diverse sectors including energy, infrastructure, industry, agriculture, and technology. He pointed out that in 2024, trade exchanges between the two nations reached over $15 billion, excluding oil and its derivatives.
The Chairman of the Turkish-Iraqi Parliamentary Friendship Committee commended the Iraqi embassy’s initiatives to facilitate visa procedures, underscoring the necessity of bolstering economic ties between the two countries. Additionally, the Deputy Chairman of the Parliamentary Investment Committee projected that 2025 will witness a surge in investment projects, enhanced by improved incentives for investors in the realms of renewable energy, manufacturing, and technology.
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