Iraq Turkey trade could expand significantly as Iraq announced plans to increase bilateral trade exchange to $30 billion. Iraqi officials discussed the proposal during high-level meetings in Ankara held alongside Prime Minister Ali al-Zaidi’s official visit to Turkey. Both governments reaffirmed their commitment to strengthening economic cooperation, encouraging investment, and expanding commercial partnerships. The initiative reflects the growing importance of economic relations between the neighboring countries.
Iraqi Trade Minister Mustafa al-Ani met Turkish Trade Minister Omer Bolat to discuss ways to deepen bilateral cooperation. During the meeting, both sides emphasized their shared goal of transforming their strategic partnership into stronger economic results. Officials agreed that closer cooperation could create new opportunities for trade, investment, and regional development. They also highlighted the importance of maintaining regular economic dialogue.
A key topic during the discussions involved increasing total trade exchange to $30 billion. Officials reviewed practical measures that could support this ambitious target. They focused on expanding commercial activity across multiple sectors while encouraging stronger private sector participation. Increasing trade remains a priority for both governments.
The ministers also discussed continued support for the Development Road Project, one of Iraq’s largest infrastructure initiatives. They examined ways to improve transportation networks and strengthen customs cooperation between the two countries. Better logistics and more efficient border procedures could accelerate the movement of goods and lower transportation costs. These improvements would also support regional trade growth.
Preparations for the third meeting of the Iraqi-Turkish Joint Economic and Trade Committee (JETCO III) also featured prominently in the discussions. Officials expect the meeting, scheduled for the fourth quarter of this year, to strengthen economic cooperation further. The committee will explore additional opportunities for trade expansion and investment partnerships. Both sides hope the forum will produce practical agreements that benefit their economies.
Trade between Iraq and Turkey has already reached significant levels. Turkish officials previously reported that exports to Iraq totaled approximately $8.7 billion during the first nine months of 2025. Total bilateral trade approached $12 billionduring the same period. These figures demonstrate the strong commercial relationship that already exists between the two countries.
Turkish companies also continue playing an important role in Iraq’s infrastructure and construction sectors. Businesses from Turkey have completed 1,145 projects across Iraq with a combined value of approximately $36.6 billion. Iraq ranks as the third-largest international market for Turkish contractors, reflecting the depth of economic cooperation between both nations.
Looking ahead, Iraq Turkey trade is expected to grow as both governments continue expanding investment, infrastructure cooperation, and commercial partnerships. Projects such as the Development Road initiative could create new opportunities for businesses while strengthening regional connectivity. Continued collaboration may also increase trade volumes over the coming years. As economic ties deepen, Iraq Turkey trade will remain a key pillar of bilateral relations.