A memorandum of understanding was signed between the Iraqi Development Fund and the Turkish company Tiryaki 

22/04/2024 PM09:35

A memorandum of understanding was signed between the two parties in the Iraqi capital, Baghdad, in the presence of Iraqi Prime Minister Mohammed Shiaa Al-Sudani, Turkish President Recep Tayyip Erdogan, as well as high-ranking ministers and officials from both countries.

According to a statement from the company, the agreement signed between the Iraqi government and "Tiryaki Agro" aims to "develop and support the agricultural supply chain sector in Iraq, which is characterized by its fertile land and high commercial potential." This agreement goes beyond just signing a memorandum of understanding; it aims to increase agricultural productivity and ensure food security.

According to the statement, "Tiryaki Agro" will transfer its international expertise in agricultural supply chains, acquired over more than 50 years, to Iraq through the establishment of an agricultural holding company (Agro Holdings).

The statement continued, "Tiryaki Agro" has been operating in Iraq for years and is continuing its investments worth $150 million to establish a soybean crushing plant and a corn warehouse at the Umm Qasr port.

The company indicated that the project will be implemented through the establishment of an agricultural holding company (Agro Holding), which will undertake major investments and engage in wide-scale operations in the Iraqi agricultural sector. Agro Holding aims to improve Iraq's food and feed security, along with planning for more efficient use of agricultural land and increasing the country's self-sufficiency in agricultural commodities.