Money transfer issue with Iraq settled: Turkish minister

ANKARA

Turkish businessmen were complianing about money transfer problems with Iraq at Harbor customs gate

Money transfer problems between northern Iraq and Turkey that were caused by changes in customs regulation amendments in Iraq have been resolved, the Turkish economy minister has announced.

The Turkish exporters have been saying they face troubles in collecting foreign exchange payments from trade with northern Iraq due to the restrictions introduced in banking system and changes in custom regulations in the neighboring country.

“Our ministry was recently informed about the challenges faced over the collection of payments for domestic and international commercial relationship with northern Iraq,” Turkish Economy Minister Nihat Zeybekçi said in a written statement released on Jan. 27.

The minister said Turkish businessmen were having troubles receiving due debts from exports to northern Iraq and the business conducted in that country, adding the problem was solved as of Jan. 26.

“As a result of our intense attempts and contacts with Iraqi authorities, we settled the money transfer problem arising from the changes in customs regulations by Iraq as of yesterday [Jan. 26],” the minister’s note read.