KRI aims to shift from importer to producer, boost trade with Turkiye

Shafaq News/ On Sunday, the Union of Importers and Exporters of Kurdistan Region Iraq (KRI) announced its goal to shift the Region from being solely an importer to becoming a producer.

The president of the Union, Mustafa Sheikh Abdulrahman, stated that “enhancing trade between the KRI and neighboring countries is crucial for improving economic conditions. We should focus on boosting local products, reducing imports, and exporting surplus production.”

"We aim to partner with Turkish companies to invest in Al-Sulaymaniyah and will provide all necessary support. This cooperation will boost trade relations and strengthen the KRI's economy," he added.

In this context, he further pointed out, “Annual trade with Turkiye and Iran amounts to $10 billion and 6 billion dinars ($4,585,351.20), respectively. We also aim to become producers and exporters.”

Notably, the Kurdistan Regional Government has been actively promoting investment from Turkiye and other countries, with a focus on developing sectors such as agriculture, tourism, and industry. The Region has also established free trade zones to attract more foreign investment.