ERBIL — Discussions took place on Thursday between Iraqi and Turkish officials aiming to regulate and restructure economic exchanges between the two countries.
Iraqi PM Muhammed Shia’ al-Sudani directed the establishment of comprehensive trade regimes and standards, aiming to discourage reliance on parallel markets, Iraqi News Agency reported.
The meeting involved representatives from the Iraqi Central Bank, PM advisors, a Turkish delegation led by the Turkish ambassador, Turkish banks operating in Iraq, and representatives from the Turkish private sector.
The discussions highlighting the importance for Turkish customs authorities to align with Iraqi customs, ensuring equal exchange between the two nations.
They also shed light on establishing interconnected financial and banking systems between the countries to facilitate capital transactions and commerce, reducing reliance on the parallel market.
The meeting further discussed exploring simplified access to credit card usage in Turkey for Iraqi residents and tourists.
These measures are expected to aim at reorganizing and regulating trade regimes and capital exchanges between the two neighboring countries using approved legal and banking methods.