Turkey expects trade exchange with Iraq to reach $30 billion in medium term, marking a significant rise in bilateral economic cooperation. Turkish Trade Minister Omer Bolat announced, emphasizing the growing strength of Turkey–Iraq trade relations.
Additionally, according to Turkey’s state-run Anadolu Agency, Bolat stated that trade volume between two countries will hit $20 billion in short term and $30 billion in the medium term. The minister’s comments came after his official visit to Baghdad, where he met with Iraqi Trade Minister Atheer al-Ghurairi.
Two ministers co-chaired the second meeting of the Iraqi-Turkish Joint Economic and Trade Committee, which focuses on enhancing economic ties and addressing trade barriers. Bolat explained that both sides are committed to creating stronger mechanisms that promote investment, infrastructure, and logistics cooperation under framework of Turkey–Iraq trade.
Moreover, during his Baghdad visit, Bolat led a delegation of over 100 Turkish entrepreneurs. The delegation included representatives from 19 Turkish enterprises and top executives from leading contracting firms. These companies engaged in extended discussions with their Iraqi counterparts to explore new trade and investment opportunities.
In the first nine months of 2025, Turkish exports to Iraq reached $8.7 billion, while overall trade between the two nations totaled nearly $12 billion, Bolat said. These figures reflect expanding volume of Turkey–Iraq trade, which continues to serve as a cornerstone of regional economic cooperation.
Therefore, Turkish enterprises have completed 1,145 projects in Iraq, valued at $36.6 billion, accounting for about 6.7 percent of their total global project portfolio. This achievement places Iraq as the third-largest market for Turkish contractors worldwide.
Additionally, Turkish engineering and consultancy firms have completed around 200 projects worth $400 million in Iraq. Bolat noted that partnerships show growing trust and long-term collaboration between both countries, laying foundation for greater economic integration across sectors including construction, energy, and logistics.