Turkiye-Iraq plan to expand their trade significantly in the coming years. According to Turkish Trade Minister Omer Bolat, Turkiye-Iraq trade will reach $20 billion in the short term and $30 billion in the medium term. The projection underscores the growing economic partnership between the two neighboring countries.
In a statement released by the Turkish Ministry of Trade, Bolat detailed his visit to Baghdad. During the visit, he met with Iraqi Trade Minister Atheer Daoud Salman al-Ghurairi. Together, they co-chaired the second meeting of the Turkiye-Iraq Joint Economic and Trade Committee (JETCO). The meeting focused on deepening cooperation and strengthening economic ties.
The two sides signed the Second-Term JETCO Protocol. This agreement aims to facilitate trade, improve the investment environment, and expand collaboration in logistics and infrastructure. Additionally, they signed a Fair Cooperation Agreement to coordinate economic exhibitions and business fairs. These initiatives are expected to accelerate Turkiye-Iraq trade in multiple sectors.
Minister Bolat announced that exports to Iraq reached $8.7 billion in the first nine months of 2025. Total trade volume between the two nations stood at $12 billion during the same period. He highlighted that Turkish companies have completed 1,145 projects in Iraq, with a total value of $36.6 billion. These projects cover construction, infrastructure, and energy. Iraq now ranks as the third-largest market for Turkiye’s contracting sector, reflecting the strength of Turkiye-Iraq trade.
Bolat reaffirmed Turkiye’s readiness to support Iraq’s reconstruction. He emphasized Ankara’s commitment to key regional projects, particularly the Development Road Project. This initiative links Basra’s Grand Faw Port with Turkiye and onward to Europe. The project will enhance regional connectivity and promote smoother trade flows.
Economic analysts believe Turkiye-Iraq trade could exceed the projected targets if both countries sustain current cooperation levels. Infrastructure upgrades, customs simplification, and transportation improvements will be crucial in maintaining momentum. Additionally, mutual investments in logistics, agriculture, and renewable energy are expected to grow.
In conclusion, Turkiye-Iraq trade continues to expand as both nations focus on economic integration. With new agreements and strategic projects underway, bilateral trade could soon reach record levels, reinforcing Iraq’s role as one of Turkiye’s top trading partners.