Iraq and Türkiye Forge $30 Billion Trade Agreement

Iraq and Türkiye are deepening their economic cooperation, setting their sights on boosting bilateral trade to $30 billion in the coming years. The ambitious goal, announced by Halit Acar, Chairman of the DEİK Türkiye–Iraq Business Council, reflects both nations’ growing commitment to regional connectivity and economic integration through major initiatives such as the landmark Development Road Project.

The project will link Iraq’s Grand Faw Port in Basra to Türkiye and onward to Europe through a vast network of highways, railways and energy corridors. Once completed, it is expected to become one of the most important trade routes in the Middle East, connecting Gulf markets with Europe in record time and reshaping regional commerce.

Officials from both countries have emphasised that the Development Road will serve as a cornerstone for economic growth and stability, creating new opportunities in sectors such as energy, logistics, construction and manufacturing.

The partnership also aligns with Iraq’s plans to join the World Trade Organization, a move that would make cross-border investment and trade more transparent and efficient.

The Iraqi government has described the corridor as a “strategic lifeline” that will diversify its economy beyond oil, while Türkiye views it as a key step toward strengthening its role as a regional transit hub. Both sides have also agreed to form joint committees to ease customs procedures and enhance business cooperation.

With improved infrastructure and growing investor interest, Iraq and Türkiye’s renewed partnership signals more than an economic milestone, it represents a shared vision for stability and prosperity that could benefit the wider region.