Baghdad, Ankara seal investment and trade MoU

Shafaq News – Baghdad

Iraq and Turkiye signed a memorandum of understanding (MoU) in Baghdad on Thursday to boost cooperation in trade, investment, and industry.

According to a statement from Iraq’s Ministry of Trade, during the second session of the Joint Economic and Trade Committee (JETCO), co-chaired by Iraqi Trade Minister Atheer Dawood Al-Ghurairi and Turkish Trade Minister Omer Bolat, both sides committed to expanding coordination in customs, food production, construction materials, automotive manufacturing, and private-sector partnerships.

Al-Ghurairi underscored Iraq’s push to attract foreign capital and shift toward a competitive, market-based economy, calling for broader collaboration that supports Iraq’s productive sectors.

The ministers also launched a Business-to-Business (B2B) Delegation Program to link Iraqi and Turkish companies and drive contracts for small and medium enterprises.

On the sidelines of the talks, they opened the Turkish Export Products Exhibition at the Baghdad International Fairgrounds, which runs from October 30 to November 1 and features a wide range of Turkish goods and services.

Bolat affirmed that Turkish firms are ready to meet Iraq’s market needs, while Al-Ghurairi framed the exhibition as a step toward economic diversification and stronger regional and global integration.

Bilateral trade exceeded $15 billion as both governments established a joint customs body to streamline border procedures at major crossings, including Habur and Faysh Khabur.