Turkey-Iraq trade volume expected to reach $10 bln: Minister

Turkish State Minister Kursad Tuzmen said In the first six months of 2008, the trade volume between Turkey and Iraq increased by 50 percent when compared to the same term last year."

Turkey-Iraq trade volume expected to reach $10 bln: Minister

Turkish State Minister Kursad Tuzmen said Friday Turkey would reach a trade volume of 10 billion USD with Iraq by the year 2010.

Tuzmen received the Iraqi Planning Minister Ali Baban and an accompanying delegation in Ankara.

Speaking at his meeting with the Iraqi delegation, Tuzmen stressed that "the trade volume between Turkey and Iraq increased rapidly in the recent past."

"The trade volume between Turkey and Iraq was worth 3.5 billion USD in 2007. In the first six months of 2008, the trade volume between Turkey and Iraq increased by 50 percent when compared to the same term last year," Tuzmen noted.

Transient business between Turkey and Iraq was worth 1.5 billion USD last year, Tuzmen said.

Turkish contractors were involved in projects worth 4 billion USD after the war in Iraq, Tuzmen said. "These Turkish contractors assumed 400 projects in Iraq. In the past two years, there has been a significant decline in the number of projects assumed by Turkish contractors in Iraq," Tuzmen underscored.

The decline in the number of projects assumed by Turkish contractors in Iraq is mainly due to the slow progress payment, Tuzmen said.

Tuzmen presented a list of Turkish companies exporting petroleum products to Iraq and waiting for payments to the Iraqi Minister Baban and asked for Baban's assistance for timely payment.

Tuzmen invited Baban to the first International Logistics Conference to be held in southern province of Mersin between October 14th and 15th.

Ali Balan

As the Iraqi government, we look at Turkey as a brotherly country, Baban stressed.
Relations between Turkey and Iraq are not merely developing in commerce but all other areas as well, Baban said.

Turkey is an important strategic and commercial partner of Iraq, Baban said.
We are working on developing ties with Turkey, Baban said.

Turkey has always been on the side of Iraq and all Iraqis even in difficult times, Baban noted.

"We can reach a trade volume of 10 billion USD with Turkey in the upcoming term," Baban said.

"There are some difficulties and small obstacles. If we can overcome these difficulties, Turkey and Iraq can reach a trade volume of 10 billion USD," Baban added.

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Güncelleme Tarihi: 29 Ağustos 2008, 15:50
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