Sign In / Up

Add contribution as a guest

Your email will not be displayed publicly
Benefit of signing in/signing up to personalize comment

Comment as a guest

Your email will not be displayed publicly
Benefit of signing in/signing up to personalize comment

Login

Not a member Register   Forgot Password
or connect using
 

Email

 

Rudaw

Business

Trade between Kurdistan and Turkey increases

By Rudaw 27/8/2017
Ibrahim Khalil border-crossing point. Photo: Rudaw
Ibrahim Khalil border-crossing point. Photo: Rudaw
ERBIL, Kurdistan Region – Trade between the Kurdistan Region and neighbouring Turkey has increased by 20 percent compared to the first six months of 2016, according the Region's ministry of trade data, adding this growth is because of reconstruction of areas previously under ISIS rule.
 
According to data of the Ministry of Trade and Industry, in the first six months of last year, business exchange between Erbil and Ankara was worth $4 billion. This increased to $5 billion in the first six months of 2017, a 20 percent increase.
 
In the past two months, business between the two has further increased, said Nawzad Adham, director general of trade at the ministry, told Rudaw, bringing the increase over 2016 up to 25 percent.
 
Reconstruction of areas previously under ISIS rule is the primary reason for this increase, Adham explained.
 
He said: “25 percent of the food and goods imported to the Kurdistan Region through the borders are intended to meet the demands of the Kurdistan Region, and 75 percent of them are exported to other places in Iraq."
 
Though Turkey considers the Kurdistan Region's independence referendum a "wrong step," officials in Ankara have said they will not consider closing its borders on the Region, saying trade connection between the two has no connection with the referendum.
 
"This is nothing to do with our trade with this Region," Turkish Foreign Minister Mevlut Cavusoglu said last week during a visit to Erbil. "We have been supporting the KRG [Kurdistan Regional Government] and the Kurdish brothers and sisters here in Iraq as well as others. So we have not put any condition and we do not want to come to this stage.”
 
In other signs of improved trade volume between the Kurdistan Region and Turkey, construction of a new bridge at the Ibrahim Khalil border crossing is 90 percent complete. The construction project is being jointly funded by Erbil and Ankara.
 
The Kurdistan Region is also working to improve trade with Iran. Two business chambers in Kurdistan have signed protocols with Iranian traders that would have them establish offices in their respective countries and see trade exchange of up to $200 million.

Comments

 
xGen | 27/8/2017
This is why KRG is deep in trouble - despite being one of the richest region in the middle east in terms of resources, the leaders have little to no effort in becoming self-sufficient. A consuming society, highly depending on oil sales and without a dependable economical plan. Rojava on the other hand are heavily under embargo by Turkey and their 'brothers' in KRG, yet they have managed to build many factories and backbones in many different fields. For shame, instead of reaching out to Rojava brothers and sisters, the KRG expands the economic ties with the very sworn enemy of Kurds. Shame on us all.
Dar | 31/8/2017
@xGen the reality is that we are landlocked, until we get a port we will be in constant trouble
Eugene | 1/9/2017
The Kurds and Sunni Arabs need an access to the Red Sea ..independence will bring the Sunni Arabs to link up with Jordan..thus create that link to that Sea...Kurdistan will no longer be land-locked.....
2400 Views

Be Part of Your Rudaw!

Share your stories, photos and videos with Rudaw, and quite possibly the world.

What You Say

Free Lorestan | 10/23/2017 9:24:12 AM
great work. traitors should be tried by military court for treason selling iraq and iraqs constitution to persian ayatollahs.
duroi | 10/23/2017 9:40:03 AM
It is time to prosecute Qasem Suleimani and his superiors for their war crimes. He is a military general and he is in violation of Geneva ...
Erbil public prosecutor issues arrest warrant for Iraqi, Shia officials
| 11 hours ago | (2)
dc in germany | 10/23/2017 9:20:38 AM
Total BS. Abadi has absolutely no intention of following through with the constitution. This is just another trick and you (Tillerson) are either...
duroi | 10/23/2017 9:31:28 AM
US failure to disable or destroy the American tanks and equipment which the Iraqi army and militia are using in their ethic cleansing campaign...
Tillerson: Kurdish expectations not met by Iraq, KRG boundaries must be respected
| 12 hours ago | (6)
Farid | 10/23/2017 12:48:23 AM
Tillerson was confused what universe he was in.
wise | 10/23/2017 9:05:08 AM
@duroi Duroi, I think it's not a wise policy to constantly annoy the majority, which is also backed by regional power Iran. Sunni arabs such as...
Sec Tillerson, King Salman meet with Abadi on Iranian influence in Iraq
| yesterday at 09:41 | (8)
Hem | 10/23/2017 8:11:40 AM
The PUK is a puppet of Iran and a traitor. I do not like, either KDP or PUK, but I support the KDP on the referendum on independence. Arabs of...
parviz | 10/23/2017 8:48:41 AM
If we imagine Kurdistan independent as a body, then unfortunatelly we may accept that some of it's organ like Gorran and puk are infected with...
Gorran calls for dissolution of KRG, establishment of interim government
| yesterday at 07:24 | (26)

Elsewhere on Rudaw

PM Barzani: Iraqi military operations hinder dialogue 5 hours ago |

PM Barzani: Iraqi military operations hinder dialogue

If we hear from Baghdad, we are in fact ready to more
Baghdad tells Tillerson he cannot tell Iraq what to do 9 hours ago |

Baghdad tells Tillerson he cannot tell Iraq what to do

'The warriors of the Hashd al-Shaabi are more
0.36 seconds