Turkish exports to Iraq rise 75 percent
Güncelleme Tarihi:
Anatolia News Agency
Oluşturulma Tarihi: Mart 23, 2009 00:00
ANKARA - Turkey’s exports to Iraq have risen 75 percent in the first two months of the year, said State Minister Kürşad Tüzmen, adding that the export target for this year is $5 billion.
Due to market contraction worldwide, Turkey’s exports have declined more than 30 percent, but the export to Iraq has climbed substantially. "Our export to Iraq totaled $241 million in January and $231 million in February last year. This year, our export to Iraq totaled $427 million in January, and $403 million in February," said Kürşad, who has traveled to Iraq with President Abdullah Gül. "During January-February of last year, our export was $473 million while the figure rose to $830 million over the same period this year. During the first two months of this year, export to Iraq rose 75 percent."
Tüzmen said the trade volume with Iraq was $5.2 billion last year. "In 2008, our export to Iraq was $3.9 billion while the import from the country totaled $1.3 billion. Electrical machinery and equipment, animal and vegetable oil, iron-steel goods, machinery and equipments, cement and furniture were among the top export items to Iraq. Petroleum products constitute almost all of the import from Iraq."
Turkey’s target in terms of export to Iraq is to surpass $5 billion this year, said Tüzmen, adding that total foreign trade target is $7 billion. "With the start of the crisis in the world, we determined that significant contractions would be experienced particularly in European markets."
In order to compensate for the market contraction in European markets, the focus moved to neighboring and nearby countries, he said. "Together with our businessmen, we visited Egypt, Iran, Russian Federation, Georgia, Azerbaijan, Saudi Arabia and Syria. We are attaining successful results. Export to our neighbors is continuing rising. We make efforts to see fewer impacts of the global crisis and market contraction."
Noting that Turkey is pursuing a win-win strategy for trade with neighboring countries, Tüzmen said it is important to have a strategy of common development with neighbors. "As our neighbors prosper, our exports to them increase as well. The rise in the purchasing power of our neighbors will also contribute to Turkey. This way, we may sell more expensive products to them. Turkey’s investments in its neighbors increase while the country receives investments from them. We can grow together."
Security in Iraq is also a factor to increase investment in and trade with the country, Tüzmen said. Turkey and its firms always support Iraqi citizens, Tüzmen said. "Prior to, during, and after the war, we have always supported Iraqi citizens. Turkey’s attitude will continue."
Tüzmen said the trade volume with Iraq was $5.2 billion last year. "In 2008, our export to Iraq was $3.9 billion while the import from the country totaled $1.3 billion. Electrical machinery and equipment, animal and vegetable oil, iron-steel goods, machinery and equipments, cement and furniture were among the top export items to Iraq. Petroleum products constitute almost all of the import from Iraq."
Turkey’s target in terms of export to Iraq is to surpass $5 billion this year, said Tüzmen, adding that total foreign trade target is $7 billion. "With the start of the crisis in the world, we determined that significant contractions would be experienced particularly in European markets."
In order to compensate for the market contraction in European markets, the focus moved to neighboring and nearby countries, he said. "Together with our businessmen, we visited Egypt, Iran, Russian Federation, Georgia, Azerbaijan, Saudi Arabia and Syria. We are attaining successful results. Export to our neighbors is continuing rising. We make efforts to see fewer impacts of the global crisis and market contraction."
Noting that Turkey is pursuing a win-win strategy for trade with neighboring countries, Tüzmen said it is important to have a strategy of common development with neighbors. "As our neighbors prosper, our exports to them increase as well. The rise in the purchasing power of our neighbors will also contribute to Turkey. This way, we may sell more expensive products to them. Turkey’s investments in its neighbors increase while the country receives investments from them. We can grow together."
Security in Iraq is also a factor to increase investment in and trade with the country, Tüzmen said. Turkey and its firms always support Iraqi citizens, Tüzmen said. "Prior to, during, and after the war, we have always supported Iraqi citizens. Turkey’s attitude will continue."