Economic ties strong: Iraq a key partner for Turkish exports
Shafaq News/ Iraq has strengthened its role as one of Turkiye’s leading trading partners in 2024, ranking fifth among the largest importers of Turkish goods, the Iraq Future Foundation for Economic Studies and Consultancy reported on Saturday.
In a statement, Manar Al-Obaidy, the foundation’s head, disclosed that Iraq ranked among the top three buyers in 28 Turkish commodity categories, accounting for roughly 25% of Turkiye’s total global exports.
“Turkiye’s exports reached $237B last year, with Iraq contributing $12B to that figure,” Al-Obaidy explained, citing major imports such as furniture, dairy products, wheat, vegetables, timber, cosmetics, milling products, foodstuffs, cocoa, manufactured goods, tobacco, animal feed, and meat.
He also highlighted Iraq’s dominance in several sectors, noting a 65% share of Turkish meat exports, 33% in milling products, and 27% in manufactured goods. Al-Obaidy further elaborated that mechanical devices led Turkiye’s export sectors with 10% of total shipments, where Iraq ranked ninth.
“Iraq also placed third among buyers of Turkish electrical devices (6% of exports) and fourth in precious metals (5.5%).”
Despite Iraq’s substantial trade volume, Al-Obaidy criticized Baghdad for “failing” to translate its economic weight into political or commercial leverage, arguing that Turkiye benefits disproportionately from the relationship while investing little in Iraq’s vital sectors, particularly oil and gas.
The foundation’s head urged Iraqi policymakers to capitalize on these strong trade ties by pushing for greater political concessions and economic collaboration, particularly in securing Turkish support for Iraq’s Development Road Project aimed at boosting Gulf trade. He also recommended diversifying import sources, suggesting Saudi Arabia and Jordan as key alternatives to offset Turkish market dominance.
