Trade with Turkey Triples

Committees don’t just sit around in Iraq.

On 19th October the Iraqi government created a committee to increase business and economic relations with Turkey. Now, a member of the committee has said that the two countries are going to increase commercial exchange up to $12bn in 2011, reports AKNews. This is a more than three-fold increase on previous agreements. Abdul Karim al-Mawla said that Turkey’s willingness to put invest in Iraqi projects promised an “encouraging future”.

“The committee persuaded the Turkish side to contribute by encouraging Turkish investment companies to work within the framework of the new investment law which guarantees the protection of investors’ funds,” he said.

Iraq is regularly signing new bilateral agreements. It has several with Turkey, which already has 117 companies in Iraq working on energy, agriculture and industrial projects.

In 2008, Iraq’s trade agreements with Turkey totalled $3.5bn.

(Source: AKNews)

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