ISTANBUL — August 13, 2026
Türkiye and Iraq are seeking to strengthen economic cooperation through the Development Road Project, with the two countries targeting $30 billion in bilateral trade, Turkish Trade Minister Ömer Bolat said.
Bolat met with Majid Abdulreda Hassan Al-Lachmawi, Iraq’s Ambassador to Ankara, to discuss bilateral economic and trade relations. The Development Road Project and steps to increase trade between the two countries were among the main topics of the meeting.
Development Road at the Center of Cooperation
Bolat said the meeting focused on measures that could be taken to strengthen cooperation under the Development Road Project and achieve the target of increasing bilateral trade to $30 billion.
The project is designed to create a major transportation and trade corridor connecting the Arabian Gulf with Türkiye and Europe through Iraq. It is expected to include road and rail infrastructure, as well as streamlined customs procedures.
Strategic Trade Corridor
The Development Road is considered strategically important for both Türkiye and Iraq as they seek to expand regional trade and strengthen their roles as transit hubs.
The project would connect Al-Faw Port in southern Iraq with Türkiye and ultimately Europe. Earlier plans indicated that the route could significantly reduce transportation times between Asia and Europe, creating potential cost and logistical advantages for international trade.
Türkiye is also preparing to connect the corridor through a new border crossing at Ovaköy in Şırnak, while Iraq is expected to establish the corresponding connection on its side of the border.
The $30 billion trade target highlights Ankara and Baghdad’s efforts to turn the Development Road from a major infrastructure project into a broader platform for trade, logistics and regional economic integration.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök