$ 12 billion of trade between Turkey and Iraq
Translated by Iraqdirectory.com - [10/8/2011]
The Commercial Counselor at the Turkish Embassy in Baghdad, Meteen Kerken, stressed the efforts of his government to adopt a strategy to install the increase in the proportion of trade with Iraq at a rate of eight billion dollars annually, while the Iraqi Government that the volume of trade with Turkey has increased from $ 10 billion to 12 billion this year .
This came during a meeting between Kerken and the Iraqi Trade Minister Khairallah Hassan Babiker, which indicated that this year witnessed a remarkable development in trade and import of materials between Iraq and Turkey, as it dealt and the Ministry of Commerce directly with the parent companies of Turkey in its imports to meet the requirements of the ration card.
Babiker pointed out that «Iraq is over in difficult circumstances after the previous regime, led to a retreat from the rest of the states after it was issued a number of industrial and agricultural products».
He added: «There is an understanding container according to the laws and new legislation that are in the direction of the organization of trade in Iraq and in line with the requirements of the current phase, in light of the economic impacts of the new that turned Iraq from a socialist state to a federal state and not inconsistent with economic policy and practice, the current».
He pointed out that the Turkish «trade and economic relations began to evolve in the form of significantly since 2004, rising trade balance than a billion dollars a year to eight billion, and we seek to increase trade and investment promotion through the establishment of an industrial zone inside Iraq».
He stressed that «the Iraqi market occupies third place in the Turkish trade, and we have a number of business advisory centers in some governorates of Iraq».
His economic adviser in the Iraqi government, Salam Al-Quraishi, said that «the volume of trade between Iraq and Turkey reached $ 12 billion this year, compared with $ 10 billion in 2010».
He added: «Iraqi government is working to expand trade with Turkey through a polarization of Turkish companies in the areas of oil, housing, trade and open investment to Iraq during the next phase».
He pointed out that «Iraq's economic plan to raise the level of trade exchange with all regional countries which succeeded in the development of the economic sector, and address the factors that hinder the economic development gap and inflation».
The expert of the Iraqi Central Bank the Mudher Mohammed Saleh considered in a statement to «life» that «the percentage reported by the Turkish embassy the size of the increase in the exchange, which is eight billion dollars a year, can be considered, according to the existing indicators of the Iraqi side, the minimum».
He added: «Iraq is now pursuing a free trade system, and can import goods from any country and with appropriate trading rules, including the export capacity to Turkey, which need to Iraqi oil, which produced a strong partnership between the two countries».
He explained that it can be considered that Turkey is a country of upward in terms of industry, as based on European industry criteria, and therefore Turkey goods are preferred, and that the cost of transport is cheaper in relation to Iraq, and can use this partnership to export goods to Turkey in the future after the improvement of the productive sector of Iraq, in addition to Turkey is the gateway to Iraq to Europe.