Union of Chambers and Commodity Exchanges of Turkey

At the ceremony Hisarcıklıoğlu stated that he believed the bilateral trade would reach 10 billion dollars by the end of this year, saying; “After we reach the 10 billion dollars goal, the next step is 20 billion dollars.”

TOBB President M. Rifat Hisarcıklıoğlu, in his speech prior to the signing of the action plan, “Coming together with our neighbor, our friend, our brother Iraq’s Trade Chambers Federation and the chamber presidents of the area is exciting gives us pleasure.”

Stating that the lands of Iraq and Anatolia have served humans for the last 4,000 years, Hisarcıklıoğlu said that the world’s oldest and richest civilizations lived here and that the lands abound in natural resources. Pointing out that they desire stronger and developed economic relations as the Turkish and Iraqi business worlds, Hisarcıklıoğlu said that their aim was to reach the highest possible level of relations. Hisarcıklıoğlu stated that he believed the bilateral trade would reach 10 billion dollars by the end of this year, “Is there potential for more? Yes, there is. After we reach the 10 billion dollars goal, the next step is 20 billion dollars.”

Hisarcıklıoğlu said that the Turkish-Iraqi Business Council is hard at work on this subject and that he believes the new Turkish-Iraqi Business Council to be established will develop the relations of the two countries even further.

- FCCI President El Hamdani

The President of the Iraq Trade Chambers Federation (FCCI) Jaafar Rasol Jaafar El Hamdani pointed out the importance of the Iraqi private sector in the reconstruction of Iraq and stated that the political and military drawing of lines all over the world serve no one and do not provide prosperity. On the other hand, economic cooperation brings prosperity, happiness and richness said El Hamdani. Stating that Iraq’s rich natural resources, he said that Iraq needs the power and experience of Turkish economy.
Saying that Iraq has land, water and petroleum, El Hamdani stated that economic integration could be achieved by coupling these with Turkey’s economic power and experience and that this would serve both countries’ peoples.

Stating that the talks would provide a first step towards the 20 billion dollar goal in bilateral trade, El Hamdani said that Iraq is in need of the many industrial and economic opportunities in Turkey. Pointing out that Turkish and Iraqi companies could form strategic partnerships, El Hamdani went on, “Iraq’s need for the construction of 3 million domiciles is a great opportunity for Turkey and Turkish companies. We also require the construction of airports, 220 five-star hotels, many bridges and passes and hospitals.”

Issuing a call to Turkish businessmen to not only take up contracts but also to invest in Iraq, El Hamdani asked that Turkish companies form partnerships with the Iraqi private sector. El Hamdani stated that they would work hard to resolve any problems that might occur immediately.

After their speeches, TOBB President Hisarcıklıoğlu presented El Hamdani with handmade ceramics and El Hamdani presented him with a plaque and a sculpture of a date tree.

- The action plan’s scope

The action plan signed between Hisarcıklıoğlu and El Hamdani aims to develop the partnership between TOBB and FCCI; sharing of information pertaining to investment opportunities; develop sectoral partnership; the motivation of businessmen to invest; resolution of disagreements; the identification of problems and providing solutions.

It is envisaged that with the action plan; commerce, investment, transportation and energy sectors will pick up momentum with bilateral trade between the Iraqi and Turkish private sectors.
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