Security and Development Road Will Take Turkey-Iraq Trade to the Targeted Level

DEİK/Turkey-Iraq Business Council President Halit Acar stated that the improvement of security conditions around Sinjar and Bashiqa and the Development Road Project could carry the 17 billion dollar trade volume between Turkey and Iraq to the 30 billion dollar target.

Sinjar, located in northwestern Iraq near the Syrian border, is among the important headings of the Turkey-Iraq security equation. Foreign Minister Hakan Fidan stated in his remarks in New York on September 26 that if Iraq disarms the armed groups, Turkey could gradually end its military presence in Bashiqa. Especially these messages regarding the disarming of the PKK and affiliated groups brought the impact of potential changes in the security field on trade to the agenda.

DEİK/Turkey-Iraq Business Council President Halit Acar stated that the improvement of security conditions around Bashiqa and Sinjar is important for economic relations, but it will not be sufficient on its own. Stating that the current trade volume of 17 billion dollars is evaluated in line with the 30 billion dollar target, Acar noted that normalization will increase the predictability of trade. It was stated that the predictable corridor could increase vehicle turnaround speed in road transport and reduce logistics costs, but customs and border operations also need to be improved for this.