Turkish firms rush to rapidly-growing Iraqi market

Turkish companies, willing to enter rapidly-growing Iraqi market, are opening offices and/or branches in the north of Iraq, company executives said

Turkish firms rush to rapidly-growing Iraqi market

Turkish companies, willing to enter rapidly-growing Iraqi market, are opening offices and/or branches in the north of Iraq, company executives said on Thursday.

Turkey's trade volume with Iraq rose from 940 million USD to 6 billion USD between 2003 and 2009, which put Iraq on the fifth place among countries Turkey makes exports the most.

Turkish companies constitute more than half of 1,000 companies in north of Iraq, and over 600 Turkish companies operate in the region particularly in construction industry.

The number of Turkish people opening workplaces or working in companies in north of Iraq has exceeded 15,000, and the number of truck drivers carrying goods of those companies has reached 20,000.

In parallel with the rise in number of Turkish companies in north of Iraq, 70 percent of goods sold in the region are Turkish products. Iraqi people prefer Turkish goods due to their high-quality.

After the Irbil International Airport, constructed by Makyol-Cengiz construction consortium, opened in March, Turkey's private airline company AtlasJet started to operate flights from Istanbul to Irbil and Sulaymaniyah every day.

Thanks to daily flights from Turkey and north of Iraq, Turkish businessmen visited Duhok, Irbil, Sulaymaniyah and Mosul and debated investment opportunities with Iraqi businessmen and executives.

Tens of Turkish companies attend trade fairs in Irbil and Sulaymaniyah every year, whereas hundreds of people from north of Iraq participate in the fairs in Turkey's southeastern provinces of Diyarbakir and Gaziantep.

Turkey opened its third consulate general in Irbil, following Basra and Mosul. Upon these developments, Turkey's national air carrier Turkish Airlines (THY) has launched initiatives to operate flights to Irbil and Basra and opened an office in Irbil.

THY is planning to launch flights to Irbil in 2011.

Moreover, three Turkish banks, Ziraat, Is and Vakifbank, have decided to open branches in Irbil. Turkish contractors are constructing thousands of dwellings in Irbil, Sulaymaniyah and Duhok.

Around 5,500 students get education in Kurdish, English and Turkish in Isik schools of Turkey which have 19 branches.

"Trade volume between Turkey and Iraq has reached 6 billion USD," Tarkan Kadioglu, chairman of Eastern and Southeastern Industrialists' & Businessmen's Federation (DOGINSIFED), said.

Kadioglu said Turkey was geographically close to Iraq and had a fraternal relationship, which were both an advantage for Turkey.

The chairman said trade volume with Iraq would be over 15 billion USD if conditions bettered, and considered raising capacity of Habur border crossing as a necessity.

Kadioglu said there was need for a second border pass between Turkey and Iraq, and Turkish exports to Iraq would be doubled in that case.

North of Iraq saw Turkey as a door opening to Europe, Kadioglu said.

"Similarly, the north of Iraq is Turkey's door opening to entire Iraq and the Middle East," Kadioglu also said.


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Last Mod: 23 Aralık 2010, 17:26
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