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FINANCIAL NEWS
Turkey-Kurdish region trade soars
26 Aug 2013
(MENAFN) Trade between the Kurdish region in Iraq and Turkey increased considerably this year, but with some problems arising, Xinhua reported.
Minister of trade and industry of the Kurdish region of Iraq, Sinan Celebi, said: “Relations between the Kurdish region and Turkey are improving in terms of business, but one problem that has come up is that the border crossing connecting the two is inadequate.”
Trade between the two is forecasted to hit USD12 billion this year after it came to a similar figure last year. About 70 percent of trade was between Turkey and the Kurdistan region.
Celebi said that the border crossing, however, cannot cope with the new pressure resulting from the increasing trade, so improvements on the crossing facilities needs to be performed.
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