Baghdad: Trkiye and Iraq signed a 'mechanism document' to finance cooperation projects in water management as part of a broader framework agreement between the two nations.

According to Anadolu Agency, Turkish Foreign Minister Hakan Fidan was received by Iraqi Prime Minister Mohammed Shia Al Sudani during his official visit to Baghdad.

Following their meeting, Fidan and Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein signed the 'Mechanism Document for the Financing of Projects Under the Framework Agreement on Water Cooperation Between the Government of the Republic of Trkiye and the Government of the Republic of Iraq.' Officials noted that the mechanism provides regulations to implement the 'Water Cooperation Framework Agreement,' which was initially signed during Turkish President Recep Tayyip Erdogan's visit to Baghdad in 2024.

The mechanism entails infrastructure modernization and construction projects aimed at the efficient, effective, and sustainable use of Iraq's water resources. These projects will be undertaken by Turkish companies, with financing originating from a system based on Iraqi oil sales. This arrangement aims to bolster Trkiye's role in enhancing Iraq's water infrastructure and improving its water resource management.

The 'Water Cooperation Framework Agreement' signed on April 22, 2024, and the recent Financing Mechanism document represent a new strategic phase in economic and trade relations between the two countries. Turkish contracting firms are expected to gain easier access to the Iraqi market and secure new opportunities in strategic projects.

Given the decline in water resources in the region due to global climate change and the resulting water stress also felt in Trkiye, long-term solutions through regional cooperation are considered essential.