Turkey’s Trade Ministry has declared that the trade volume between Turkey and Iraq has exceeded $6 billion this year, up from only $940 million in 2003.
In a press release by Turkish Ministry of Trade, commercial ties between Turkey and Iraq have developed dramatically in the recent years.
The indicators show that bilateral the trade exchange volume has increased six times rising to $6 billion in six years.
Iraq has risen from being Turkey’s 10th largest trade partner to the fifth largest, according to the release. Though the world was undergoing a recession in 2009 and 2010, Turkey’s export to Iraq is worth $6 billion.
According to the report from AK News, “Turkey is the second among the countries that have companies doing business in Iraq after China”.