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Turkey To Invest Billions In Iraq Reconstruction

Turkey and Iraq are planning to re-establish a number of investment agreements signed in 2009.

Following meetings between the Iraqi foreign minister Ibrahim al-Jaafari and Turkish counterparts in Ankara, Turkey has promised to provide $5billion towards the reconstruction of Iraq as well as the opening of a new border crossing between the two countries in order to strengthen business ties. 

Turkish Foreign Minister Mevlut Cavusoglu also tweeted to say that they discussed the “cooperation between both countries in combating terrorism and participation in Iraq’s reconstruction and we promised to offer $5 billion.”

Turkish companies currently equate for around half of all foreign companies operating within Iraq. Turkish officials also discussed cooperation in other sectors including health care, infrastructure, technology and tourism while there was also mention of a planned cooperation with Iraq in the higher education sector in order increase the number of places for Iraqi students within Turkish Universities.

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