Economy Insights – Baghdad
The Erbil Chamber of Commerce and Industry has announced that the Kurdistan Region accounts for 25% of the trade exchange between Iraq and Turkey, which reached a total of $17 billion in 2024.
A meeting aimed at enhancing trade relations and facilitating business operations for Kurdish merchants took place between the Erbil Chamber and the Turkish-Iraqi Industrialists and Businessmen Association (TISIAD), as well as the port of Mersin.
Key attendees included Omid Khoshnaw, Governor of Erbil; Saruar Kamal Hawari, Undersecretary of the Ministry of Trade and Industry; and Karim Suleiman, Undersecretary of Agriculture and Water Resources, alongside Kamran Salah Bajkir, Deputy Head of the Erbil Chamber, and several council members, traders, and company representatives.
During the meeting, which was chaired by Mohamed Saleh, head of TISIAD, officials from the Turkish consulate in Erbil, the port of Mersin, and various Turkish companies also participated.
Kamran Salah Bajker, Vice President of the Erbil Chamber of Commerce and Industry, noted that the Kurdistan Region serves as a significant market for Turkish products, providing a strategic entry point for trade into the broader Iraqi market. He highlighted that the trade exchange between Iraq and Turkey is projected to total $17 billion by the end of 2024, with Turkish exports to Iraq comprising $14 billion, and the Kurdistan Region’s share estimated between 20% and 25%.
Furthermore, Bajker mentioned that there are currently 1,064 branches of Turkish companies operating in Erbil, underscoring the robust trading relationship between the two parties.
Governor Omid Khoshnaw reiterated the strength of economic ties between Erbil and Turkish provinces, noting the positive impact these ties have on commercial activity in the region. He expressed a desire to enhance supportive measures for traders.
Representatives from the Ministries of Industry and Agriculture conveyed their commitment to strengthening commercial relationships, while the Turkish delegation underscored their support for Kurdistan Region traders and companies, emphasizing the importance of facilitating import procedures through Mersin Port.
The meeting concluded with an overview of Mersin Port’s capabilities, during which local merchants voiced their concerns regarding operational challenges. They specifically requested that truck drivers from the Kurdistan Region be permitted direct access to transport goods to the region.
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