Türkiye, Iraq reaffirm commitment to $30B trade target

Türkiye and Iraq reaffirmed their commitment Tuesday to deepening commercial and economic relations and achieving a medium-term trade volume target of $30 billion.

Turkish Trade Minister Omer Bolat met his Iraqi counterpart, Mustafa Nizar Jumaa, in Ankara as part of Prime Minister Ali Zeydi’s visit to Türkiye.

Bolat said on Turkish social media platform NSosyal that the two ministers discussed concrete steps needed to reach the trade target, expand existing areas of cooperation and encourage mutual investments.

The talks also focused on the strategic importance of the Development Road Project as alternative international trade routes gain prominence.

They assessed efforts to develop new joint projects, facilitate transit trade, harmonize customs procedures and strengthen cooperation between the two countries’ customs authorities.

Bolat said Türkiye and Iraq would establish a new roadmap during the third meeting of the Türkiye-Iraq Joint Economic and Trade Committee, or JETCO, scheduled in Türkiye in the final quarter of 2026.

Bolat said earlier that the rapid integration of the Ibrahim Khalil Border Gate into the ASYCUDA customs system implemented by the Iraqi government would make an important contribution to achieving the $30 billion trade target.

He added that the Development Road Project would accelerate investment and contracting activities between Türkiye and Iraq, including through the establishment of new logistics centers and cities.