Trade minister due in Iraq to boost economic ties

Trade Minister Ömer Bolat is embarking on a two-day visit to Iraq, seeking to boost economic cooperation.

Bolat's visit, accompanied by delegations from the Turkish Exporters Assembly (TİM) and Turkish Contractors Association (TMB), will include stops in the capital Baghdad and the southern city of Basra, Trade Ministry sources said.

Accompanied by business representatives, Bolat will work to deepen trade and investment ties with Iraq, one of Türkiye's key trading partners.

This visit takes place at a time when economic relations between the two countries have been improving.

The visit aims to promote Turkish contractors' involvement in Iraqi infrastructure projects, particularly the Development Road Project, a trade route project linking the two countries with railways, roads, ports and cities.

In Baghdad, Bolat will be received by Prime Minister Mohammed Shia Al-Sudani and hold bilateral talks with Trade Minister Atheer Dawood Salman Al Ghrairi and Transport Minister Razzaq Muhaybis al-Saadawi.

In Basra, Bolat is set to meet Governor Asaad Al-Eidani and attend trade delegation programs.

Türkiye's exports to Iraq from January to October reached $10.8 billion, up 5.3 percent from last year. Imports from Iraq dropped 41 percent to $3.7 billion during the same period, resulting in a trade volume of $14.5 billion.

So far, Turkish contractors have undertaken 1,111 projects in Iraq, valued at $34.9 billion, making Iraq the third-largest market for Turkish firms globally.

The visit aims to sustain balanced trade relations and expand the presence of Turkish contractors in Iraq's development initiatives.