Ankara: Integrating the Ibrahim Khalil border crossing into Iraq's automated customs system would significantly support Trkiye and Iraq's goal of increasing bilateral trade to $30 billion, the Turkish trade minister said on Tuesday. Speaking at the Trkiye-Iraq Business Roundtable Meeting in Ankara, Omer Bolat highlighted the expansion of economic ties across various sectors including trade, investment, contracting, transportation, defense, tourism, and services.

According to Anadolu Agency, bilateral trade currently stands at about $17 billion, after reaching as high as $24 billion following the COVID-19 pandemic and during a period of elevated energy prices. Iraq is Trkiye's fifth-largest trading partner, and both countries are determined to raise bilateral trade to $30 billion over the medium term. Turkish contractors have completed 1,157 projects worth $40 billion in Iraq, making it their third-largest overseas market.

Bolat emphasized the importance of linking the Ibrahim Khalil border crossing to the Automated System for Customs Data (ASYCUDA) introduced by the Iraqi government. "We believe that integrating the Ibrahim Khalil Customs Gate into the ASYCUDA system as soon as possible will make a very important contribution to our goal of increasing trade between Trkiye and Iraq to $30 billion," he said. The integration is expected to reduce uncertainty and accelerate trade.

Additionally, Bolat mentioned that Trkiye was ready to support Iraq's implementation of the TIR Convention and stressed the importance of ratifying bilateral agreements on investment protection and the prevention of double taxation. The Turkish trade minister also called for the Kirkuk-Ceyhan oil pipeline to operate at full capacity, the construction of a new pipeline from Basra to Trkiye's Ceyhan terminal, and progress on the Development Road project. The planned corridor would connect Iraq's Grand Faw Port with Europe through Trkiye.

Bolat further noted a transit visa arrangement between Trkiye and Saudi Arabia, in effect since April 15, had opened trade routes through Iraq to Saudi Arabia, Kuwait, and the wider Gulf. He expressed Trkiye's interest in hosting the next meeting of the Trkiye-Iraq Joint Economic and Trade Committee this year.

In addition, Nail Olpak, president of Trkiye's Foreign Economic Relations Board, called for the resolution of differences in customs practices between Iraq's federal government and the Kurdish Regional Government. He also urged authorities to improve banking channels for trade payments, accelerate e-visa procedures, and provide businesspeople with multiple-entry commercial visas.