We are together with the 33rd issue of BBM Magazine.
Iraq is one of Turkey’s most important traditional export markets. Turkey exported $ 7.3 billion worth of products to Iraq last year and Iraq’s share in Turkey’s total exports amounted to 4.5 percent.
However, our exports are experiencing worrisome developments in the Iraqi market, which rose once to second place after Germany in Turkey’s export destination list. Iraq is no longer on top of that list. Recently, Iraq has declined to the 7th place after Germany, Britain, Italy, Spain, France and the USA.
To expand the scope of the exporters in Iraq, which has a high potential for Turkish producers, Turkey-Iraq business forums were held in Baghdad. Presidents of the two countries set the goal of achieving a trading volume of $ 20 billion.
In a period where dialogue continues between two capitals for the removal of barriers to trade, the news of the new restrictions from Baghdad stunned the Turkish industrialists. Iraq, which banned the import of eggs in May and beverages and ice cream imports in June, prohibited also the import of table salt, noodle varieties and pasta from Turkey in July.
There is also a concern among the Turkish businessmen that Iraq could ban exports of all the grain-based food products and processed agricultural products after eggs, ice cream and pasta.
It is of great importance for the Turkish foreign and trade ministries to intervene in these decisions as soon as possible and to solve this problem before it grows and affects other agricultural products exports.
Hope to meet you in our next issue…