Analysis of Turkey and China's Economic Partnerships With Iraq In Trade Exchanges

Abstract

International economic interactions are now essential to both developed and developing countries to
achieve economic growth and, thus, growth. New marketplaces for the discharge of goods are created
by international commerce and foreign direct investment as part of international economic cooperation.
Country-to-country trade occurs between nations that produce specific items or provide certain services
and other countries that do not. In the shadow of the profound economic transformations produced by
globalization and the revolution of communications and information, and the disappearance of such
partnerships in the fields of trade, finance, production, and market creation, cooperating countries have
achieved a range of positive advantages: gaining experience in the conditions of domestic and foreign
markets through exports and direct investment, and sharing experiences and technology between those
in the center countries (parent companies) and those emerging in various branches in foreign countries.
After the political change that took place in Iraq after 2003, Iraq went to conclude trade and economic
agreements with Turkey and China with the aim of strengthening economic, trade, scientific and
technical relations between the two parties, and encouraging and expanding foreign exchange, by
abolishing or reducing trade restrictions and removing non-tariff barriers in their bilateral trade, and the
cooperation of the two parties in the field of expanding investments and investment opportunities, but
the Iraqi side was the weakest in achieving the economic goals of these agreements, Due to the
underdevelopment of the supply side of the Iraqi economy and its inability to compete with international
economic partners, as its weak production capacity in its economic sectors stems from the lack of
adequate economic and trade policies due to the security and political challenges that the country is
going through and its weak production base, and in order to find a balance between these agreements
and economic relations, a national economic strategy based on diversifying the productive base of the
Iraqi economy must be adopted to make it able to compete with international partners. Due to these
interactions and agreements with Turkey and China, Iraq's economy has been exposed to the rest of the
globe by 68 percent. It signifies that the economy is susceptible to changes in global commerce.
Economic growth is harmed when countries open themselves up to the outside world by signing
agreements on economic and investment cooperation with other countries. International agreements
and the enactment of laws and legislation that would preserve the interests of foreign investors, in
addition to overcoming the shortage of infrastructure, would help attract foreign direct investment and
promote investment in manufacturing due to Iraq's abundance of raw materials and low-wage
workforce.