PM Barzani, Turkish Finance Minister Discuss Trade, Oil Exports, Regional Connectivity
The discussions focused on the resumption of oil exports, strengthening economic ties, boosting trade and investment, and addressing key regional infrastructure projects.
ERBIL (Kurdistan24) – Kurdistan Region Prime Minister Masrour Barzani met with Turkey’s Finance Minister Mehmet Şimşek on Wednesday on the sidelines of the World Government Summit (WGS25) in Dubai.
The discussions focused on strengthening economic ties, boosting trade and investment, and addressing key regional infrastructure projects.
The meeting underscored the importance of advancing economic relations between the Kurdistan Region and Turkey, a longstanding trade partner.
Prime Minister Barzani emphasized Kurdistan’s commitment to fostering a stable and business-friendly environment to attract further Turkish investments.
Finance Minister Şimşek reaffirmed Turkey’s interest in deepening economic cooperation, particularly in sectors such as energy, infrastructure, and commerce.
Restarting Oil Exports and Resolving Regional Disputes
A significant part of the meeting addressed ongoing efforts to resolve financial and administrative disputes between the Kurdistan Regional Government (KRG) and the federal government in Baghdad.
The suspension of the Kurdistan Region’s oil exports has had a considerable economic impact, and both sides agreed on the need to resume exports at the earliest opportunity.
The discussion highlighted the importance of cooperation between Erbil, Baghdad, and Ankara to establish a sustainable and mutually beneficial energy framework.
The Kurdistan Region’s oil exports, previously a major revenue source, have been stalled due to technical and political disagreements between Baghdad and Erbil.
However, the recent approval of Iraq's budget law amendment, facilitating the resumption of oil exports from the Kurdistan Region, has paved the way to resume the Kurdistan Region’s oil exports.
Turkey plays a key role in facilitating the export route via the Ceyhan port, and Şimşek expressed Turkey’s readiness to support a resolution that ensures the steady flow of energy while maintaining regional stability.
The Development Road Project: Strengthening Regional Connectivity
Another focal point of the meeting was the Development Road project, a strategic initiative aimed at connecting Gulf nations, Iraq, the Kurdistan Region, and Turkey with Europe through a comprehensive railway network.
Both sides recognized the project’s significance in boosting trade and enhancing transportation efficiency across the region.
Prime Minister Barzani stressed the necessity of Kurdistan’s active participation in the Development Road project, positioning the region as a critical transit hub linking Middle Eastern and European markets.
The project aligns with broader regional efforts to enhance economic integration and facilitate smoother trade routes.
Commitment to Continued Engagement
Both Prime Minister Barzani and Minister Şimşek reaffirmed their commitment to continued collaboration on economic and trade issues.
They agreed to maintain discussions to ensure the timely implementation of agreements that will strengthen the Kurdistan Region’s economic position and further its integration into regional and international trade networks.
The meeting highlights the growing importance of Kurdistan-Turkey relations in shaping regional economic dynamics and underscores the Kurdistan Region’s strategic role in fostering stability and economic development.