Türkiye Wealth Fund and Iraq Development Fund Sign Strategic Partnership Agreement in Baghdad
Baghdad, The Gulf Observer: The Türkiye Wealth Fund (TVF) and the Iraq Development Fund (DFI) signed a memorandum of understanding (MoU) in Baghdad to establish a long-term strategic partnership aimed at advancing collaborative projects across key sectors of mutual interest.
The agreement was formally signed by TVF CEO and board member Salim Arda Ermut and DFI Executive Director Mohammed al Najjar. The signing ceremony was preceded by a press conference during which both sides reaffirmed the depth of historic and cultural ties between Türkiye and Iraq, as well as their shared aspirations for regional development and economic integration.
“As countries with deep-rooted histories, a shared geography and strong fraternal bonds, Türkiye and Iraq have always enjoyed a special relationship,” Ermut stated, underscoring that this centuries-old friendship has evolved into a modern partnership grounded in mutual trust and shared strategic goals.
Ermut described the MoU as a milestone in Türkiye-Iraq relations, stressing that the agreement would strengthen cooperation not only at the regional level but also globally. “As the Türkiye Wealth Fund, we will work closely with the Iraq Development Fund to develop, finance and implement a wide range of projects,” he said. “Our cooperation will span renewable and green energy, information and communication technologies, infrastructure and construction, transportation and logistics, automotive, agricultural technologies and food production, as well as financial services and fintech.”
He added that the partnership would go beyond financial investments to include knowledge sharing, technology transfer, and the coordinated use of resources, thereby ensuring lasting and impactful outcomes. “This initiative is aligned with our long-term vision of fostering sustainable growth, regional economic stability, and closer bilateral ties,” he said.
In his remarks, Ermut emphasized TVF’s commitment to building enduring relationships based on trust, shared values, and a forward-looking vision. He expressed appreciation to all officials and stakeholders involved in facilitating the agreement.
DFI Executive Director Mohammed al Najjar welcomed the TVF delegation to Baghdad, describing the visit as a pivotal moment in bilateral relations. “For the first time, Iraq and Türkiye are moving beyond trade to engage in long-term strategic projects,” he said. Al Najjar highlighted that the MoU provides a structured framework for jointly developing, financing, and executing strategic initiatives, with tangible results expected by May 2025.
He noted that the memorandum reflects a shared commitment to innovation-driven investments and paves the way for collaborative ventures that will benefit both nations. The partnership, he added, is designed to strengthen economic integration, promote sustainable development, and reinforce stability throughout the region.
The agreement also establishes mechanisms for joint resource allocation and the advancement of strategic projects across critical sectors. With a strong emphasis on inclusive development and innovation, the Türkiye-Iraq partnership marks a significant step forward in regional cooperation and long-term strategic planning.
