Iraq Kurdistan and Turkey has seen an influx of Turkish imports and business established in the region. Despite tensions between the countries an estimated 1800 Turkish firms operate in Iraq and is said to be the largest Middle Eastern market for their exports, a total of $7 billion.
The bordering region, the source for the country’s oil and gas reserves has become a place where many turkish business owners have found growth and opportunity to invest, establish and create trades with.
Many industries including textile, construction and consultancy services have flourished in the region due to the rise of turkish citizens migrating there. For a visit to Iraq with a ten day maximum turkish citizens can travel to Iraq without a visa rather a passport and a stamp.
A rise in the demand for turkish produce has opened the market for many other exports. A lucrative market as the goods and services are purchased in US dollar and paid mostly in cash.
The construction of the international airport in Erbil was built in conjunction with Cengiz, a turkish firm. Other projects including refineries, roads, office blocks and university campuses have been awarded to many turkish firms.
The cross border trade has become a catalyst for the turkish economy and people who are looking to establish new business opportunities.