The high volume of Turkish exports to Iraq NEW MORNING ECONOMIC AFFAIRS SEPTEMBER 2ND, 2015
Exceeded 5% in July
Baghdad: new morning:
Turkish businessmen Council said Iraqi high volume of Turkish exports to Iraq more than 5% during the month of July, expressing the hope that exports to 10 billion dollars by the end of this year.
The President of the Council said Amin Taha told the daily Sabah newspaper», that «has been finalized to reestablish trade cooperation between Iraq and Turkey over the re-establishment of the Turkish-Iraqi Business Council as of the first week of the current month.
He said Taha «there will be reciprocal visits between Iraq and Turkey by government officials, and will establish a free trade zone between the two countries in 2016, as well increased the number of exhibitions and business events between the two sides.
He stressed that trade relations between the two countries were cut off because of the terrorist incidents that have occurred in the past months due to organize terrorist daash PKK, but Turkish exports rose to Iraq by 5.4% in July after a decline for 13 months.
Taha expressed his hope that "Turkish exports amounted to 10 billion dollars by the end of this year, likely «export rises by 20% next year.
Iraq tops list of Turkish neighbours in terms of the value of imports, accounting for only about 50 percent of Turkey's exports to neighboring eight States since January 2015. The volume of Turkish exports to Iraq more than $ 1 billion at a time when exports of seven other neighbouring States about $ 930 million.
According to Turkish exporters Council, has increased the value of Turkish exports to neighboring countries by 20 percent during the past month, to about 16 percent of the country's total exports. Grain and legume came seeds and oleaginous products on top of Iraqi imports represented about 30 percent of the total imports into Iraq from Turkey.
Iran came in a distant second on Iraq in terms of the value of imports from Turkey, followed by Azerbaijan ranked third, then Bulgaria, Greece, Georgia and Syria, while Turkey has not issued any goods to Armenia. Turkish exports amounted to Iraq more than quadrupled its exports to Iran, which amounted to about $ 245 million. Turkish exports amounted to Syria about $ 98 million.
Analysts believe the large volume of Turkish exports to Iraq caused by paralysis of all economic activities in Iraq because of political uncertainty and conflict in Iraq, which turned the country into a State legislative import all their goods, and live only on oil revenues.
Topped cereals and legumes, seeds, oleaginous products list of exports to neighboring countries and Turkey accounted for more than $ 264 million from last month's exports, followed by chemical products and then exports steel and wood products and forest products.