Contractors hold talks in Iraq ahead of trade minister’s visit

Turkish Contractors Association (TMB) President Erdal Eren and the accompanying delegation have paid a visit to Iraq explore investment opportunities.

High-level talks were held to obtain information about the projects that Turkish contracting companies will carry out in the country in the near future, ahead of a visit by Trade Minister Ömer Bolat to Baghdana and Basra on Nov. 18-19, the association said in a statement.

To date, Turkish contractors have assumed 1,111 projects worth $35 billion Iraq, making it the largest market in the Middle East region and the third largest in the world for Turkish companies, Eren said.

After years of turbulence, Iraq is experiencing a period of stability again, he added, noting that the size of the Iraqi construction market reached $11 billion 2023.

"The market is expected to grow by an average of 5 percent in 2025-2028 with oil and natural gas investment projects being the driving force," Eren said.

There are many major projects planned in the country such as the Baghdad Metro Project, the ring road project, construction of hospitals, schools, housing, drinking water, irrigation, energy transmission lines and tourism facilities, according to Eren.

"As Turkish contractors that have experience doing business in that country, we want to take part in all those projects," he said.

Turkish contractors are a major player in the global market.

From 1972 to the end of September 2024, Turkish companies have carried out more than 12,000 projects worth $516 billion in 137 countries.

Russia is the largest market for Turkish contractors, with $102 billion, followed by Turkmenistan, with $53.5 billion, and Iraq.