Baghdad: The Trkiye Wealth Fund (TVF) and the Iraq Development Fund (DFI) have signed a memorandum of understanding (MoU) in Baghdad to establish a strategic partnership aimed at advancing joint projects across key sectors. The agreement was signed by TVF CEO and board member Salim Arda Ermut and DFI Executive Director Mohammed al-Najjar.

According to Anadolu Agency, at a press conference held before the signing ceremony, Ermut highlighted the historic and cultural ties between the two nations. He emphasized the special relationship fostered by their shared geography and strong fraternal bonds. Ermut described the MoU as a major step forward, strengthening cooperation between Trkiye and Iraq not only at a regional level but globally.

The agreement outlines collaboration in various sectors, including renewable energy, information and communication technologies, infrastructure, transportation and logistics, automotive, agricultural technologies, food production, and financial services and fintech. Ermut stressed the importance of the partnership going beyond investments to include knowledge sharing, technology transfer, and resource sharing.

Ermut expressed confidence that the initiative would promote inclusive and sustainable growth in both countries, strengthen regional economic stability, and deepen the longstanding ties between Trkiye and Iraq. He highlighted the value of long-term relationships built on trust and shared values.

Al-Najjar welcomed the TVF delegation to Baghdad, marking the occasion as a significant milestone for broader partnerships between the two countries. He noted that this is the first time Iraq and Trkiye are engaging in long-term strategic projects beyond trade.

The memorandum sets the stage for deeper bilateral cooperation and aims to build impactful partnerships at both regional and global levels. The MoU includes commitments to innovation-driven investments in critical sectors, with the first tangible outcomes expected in 2025. Beyond investments, the agreement emphasizes collaboration in knowledge sharing, technology transfer, and strategic resource allocation.

The partnership is expected to support inclusive and sustainable economic development in both Trkiye and Iraq, reinforce regional economic stability and growth, and deepen the countries' longstanding strategic ties.