Türkiye and Iraq eye $30B trade target in new talks

Türkiye and Iraq have initiated fresh talks aimed at raising their bilateral trade volume to $30 billion, following a meeting between Turkish Trade Minister Omer Bolat and Iraqi Ambassador to Ankara Majid Abdul Ridha Hassan Al-Lachmawi on Wednesday. In a statement shared on the Turkish social media platform NSosyal, Bolat detailed that the discussions focused on implementing agreements reached during Iraqi Prime Minister Ali Falih al-Zeydi's visit to Türkiye last month, with both sides expressing strong commitment to deepening economic ties.

Development Road project at the centre of cooperation

Bolat emphasised that strengthening collaboration under the Development Road Project—a major infrastructure initiative designed to connect the Persian Gulf to Europe via Iraq and Türkiye—was a key priority. The two officials also explored practical steps to increase trade volume to the $30 billion target, while addressing challenges encountered by Turkish exporters operating in the Iraqi market. "We once again reaffirmed our commitment to further advancing our relations with our neighbour Iraq through concrete projects," Bolat stated, underscoring Ankara's determination to translate political will into tangible economic outcomes.

Iraq’s growing importance as a trade partner

The minister noted that Iraq ranked fifth among Türkiye's export destinations in 2025, with Turkish exports to the country reaching approximately $12.4 billion over the course of the year. The robust trade figures reflect the deepening commercial relationship between the two neighbours, driven by Türkiye's diversified export base and Iraq's reconstruction and infrastructure needs. Both sides agreed to maintain regular consultations to overcome logistical and regulatory hurdles, ensuring that the upward trajectory in trade continues.

Strategic vision for regional economic integration

The meeting forms part of a broader diplomatic and economic push by Ankara to strengthen ties with its southern neighbour, building on high-level visits and sectoral agreements signed in recent months. Türkiye views Iraq not only as a vital trade partner but also as a gateway to wider regional markets. As both countries pursue ambitious infrastructure and energy projects, the $30 billion trade target represents a strategic milestone that could reshape economic dynamics in the Middle East, with Türkiye positioning itself as a key commercial hub and industrial partner for Iraq's post-conflict development.