Expectations for Turkish Exports to Iraq
Projected Export Growth
Nawaf Qilij, the President of the International Society of Industrialists and Businessmen in Türkiye, has announced expectations that Turkish exports to Iraq will reach approximately $16 billion annually. This projection indicates a significant growth opportunity for trade relations between the two nations.
Driving Trade Initiatives
Qilij noted that a delegation of Turkish businessmen recently visited Kirkuk Governorate as part of their ongoing efforts to enhance foreign trade with Iraq. He emphasized Iraq’s status as a critical market for Turkish products, which are recognized for their high quality and strong demand within the Iraqi commercial sector.
Export Performance Analysis
In reviewing the export performance of the previous year, Qilij reported that the total value of Turkish exports to Iraq reached $13.034 billion. This figure reflects an increase of 4.38% compared to the preceding year, which recorded exports of approximately $12.759 billion. However, it marks a slight decline of 5.49% from 2022, when Turkish exports to Iraq amounted to around $13.750 billion.
Strategic Importance of Ports
According to Qilij, the Ibrahim Al-Khalil port in Dohuk, located in the Kurdistan Region, plays a pivotal role in the commercial exchange and supply of Turkish goods. It facilitates the passage of 90% of all goods transiting through this port, along with the maritime routes in Basra.
The Role of the Kurdistan Region
The Kurdistan Region’s significance as a vital economic gateway between Iraq and Turkey cannot be overstated. It substantially influences trade operations between the nations and is considered a promising market in the international commercial landscape.
Local Support for Trade Relations
Ribwar Taha, Governor of Kirkuk, expressed his support for the strengthening of commercial and industrial connections with Türkiye during his meeting with President Qilij and the Turkish delegation. Taha assured that the Kirkuk administration is committed to fostering the commercial and industrial sectors, and he recognized the track record of Turkish companies. He articulated a goal to bolster collaborative efforts between Turkish enterprises and local stakeholders in Kirkuk.
Conclusion
The outlined expectations and developments in Turkish exports to Iraq underscore a robust trajectory for bilateral trade, with active support from local governance emphasizing the importance of maintenance and growth in these economic relations.
