ANKARA / ISTANBUL
Türkiye and Iraq signed a “mechanism document” on Sunday for the financing of cooperation projects in the field of water as part of a broader framework agreement between the two countries.
According to Turkish diplomatic sources, Turkish Foreign Minister Hakan Fidan was received by Iraqi Prime Minister Mohammed Shia Al Sudani during his official visit to Baghdad.
Following the meeting, Fidan and Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein signed the “Mechanism Document for the Financing of Projects Under the Framework Agreement on Water Cooperation Between the Government of the Republic of Türkiye and the Government of the Republic of Iraq.”
Officials stated that the mechanism outlines regulations to ensure the implementation of the “Water Cooperation Framework Agreement,” signed during Turkish President Recep Tayyip Erdogan’s visit to Baghdad in 2024.
Under the mechanism, infrastructure modernization and construction projects aimed at the efficient, effective, and sustainable use of Iraq's water resources will be undertaken by Turkish companies, with financing to be provided through a system based on Iraqi oil sales.
Through this arrangement, Türkiye aims to enhance its contribution to improving Iraq’s water infrastructure and increasing the efficiency of its water resource management.
The “Water Cooperation Framework Agreement” signed on April 22, 2024, and Sunday’s Financing Mechanism document mark the beginning of a new strategic phase in economic and trade relations between the two countries. Turkish contracting firms are expected to gain easier access to the Iraqi market and secure new opportunities in strategic projects.
Considering the decline in water resources in the region due to global climate change and the resulting water stress also felt in Türkiye, long-term solutions through regional cooperation are viewed as critical.