Aerospace & DefenseAgriculture

Türkiye Aims to Boost Trade with Iraq to $30 Billion in 2025: Key Sectors Identified

2025-01-28T15:38:08+00:00

On January 28, 2025, Khaled Ajar, the head of the Turkish-Iraqi Business Council, announced Turkey’s ambition to elevate trade with Iraq to $30 billion for the current year. Ajar emphasized that trade relations between the two nations are strengthening, driven by mutual commitment to escalating trade exchanges.

Ajar noted that Iraq was the fifth-largest market for Turkish exports last year, highlighting the growing demand across various sectors, including construction, agriculture, energy, food processing, health, and logistics.

He stated, “The increasing infrastructure needs in Iraq have facilitated Turkish companies’ involvement in regional contracting projects. Turkey is committed to enhancing friendly relations with Iraq through commercial partnerships.” Cooperation between Turkey and Iraq has been notably expanding across energy, agriculture, logistics, healthcare, infrastructure, and technology.

Data from the Turkish Exporters Council reveals that Turkish exports to Iraq rose by 9.8% from January to December 2024, amounting to approximately $10.7 billion. Last year, Iraq constituted 4.73% of Turkey’s total export volume.

Significant Turkish exports to Iraq included grains, legumes, oilseeds, and derivatives, valued at around $2.15 billion. Regionally, Istanbul led Turkish exports to Iraq, valued at approximately $3.09 billion, with Gaziantep, Mardin, Hennak, and Marin following closely.

The two nations are working on establishing direct land corridors linking the Iraqi city of Basra to Turkey through the “Road of Development” project, a critical initiative designed to connect Turkey with the broader region and provide a gateway from the Arabian Gulf to Europe.

The “Road of Development” project is anticipated to bolster economic integration among Turkey, Iraq, and neighboring countries. Upon its completion, this initiative is expected to reduce trade transit times from the Gulf to Europe by 12 to 15 days, effectively lowering transportation costs.

In discussing the project, Ajar stated that it represents the most direct route connecting the Arabian Gulf to Turkey and Europe, offering substantial economic opportunities for Iraq, Turkey, and the entire region.

He added that the project is poised to create enhanced cooperation opportunities in coming years, particularly in strategic areas such as energy projects, port investments, rail infrastructure, and logistics efforts.

Throughout 2024, the Turkish-Iraqi Business Council organized nearly 40 events aimed at promoting trade and economic relations between the two countries, including pivotal meetings held during official visits.

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