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    In this Nov. 15, 2017 photo, aerial view of destroyed building and shops in the Old City of Mosul, Iraq

    Turkey Will Get $40 Bln After Injecting $5 Bln Into Iraq – Analyst

    © AP Photo / Felipe Dana
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    Commenting on Ankara's decision to allocate five billion dollars to Iraq for reconstruction purposes, Baghdad-based political analyst Raid al-Azawi has told Sputnik that the move will profit Turkey both politically and economically.

    Political commentator Raid al-Azawi of the American University in Baghdad recalled that Turkey has invested more money in Iran's reconstruction since 2004 than any other country. 

    He said that trade turnover between Turkey and Iraq currently stands at 12 billion dollars, while trade turnover between Baghdad and all other Arab countries is only 2.5 billion dollars.

    READ MORE: Daesh Still Poses Security Danger in Northern Iraq — Kirkuk Governor

    "Remaining the largest foreign shareholder in Iraqi companies, Turkey owns shares in 400 Iraqi organizations in the oil and energy sector. So the five billion dollars, which Ankara has allocated to Baghdad, will bring Turkey at least 40 billion dollars in profit," Al-Azawi pointed out.

    As for the political goals of Turkish support, he suggested that "Turkey wants to regain the glory of the Ottoman Empire through Iraq."

    In this Friday, March 24, 2017 photo, civil protection rescue teams work on the debris of a destroyed house to recover bodies of people killed during fighting between Iraqi security forces and Daesh militants on the western side of Mosul, Iraq
    © AP Photo / Felipe Dana
    In this Friday, March 24, 2017 photo, civil protection rescue teams work on the debris of a destroyed house to recover bodies of people killed during fighting between Iraqi security forces and Daesh militants on the western side of Mosul, Iraq

    "In addition, Ankara will try to put pressure on Saudi Arabia, Egypt and the United States," Al-Azawi added.

    According to him, the current Iraqi government suits Ankara, which welcomed its neighbor's unequivocal rejection of Iraqi Kurdistan's 2017 independence referendum.

    "Right now, Turkey is working to minimize Baghdad's relations with Egypt and Saudi Arabia," Al-Azawi concluded.

    He was echoed by Professor Ahmed Oyasal of Istanbul University, who said that Turkey is concerned about the complicated situation in Iraq due to the war on terrorism and the US occupation.

    READ MORE: Iraq Needs $25Bln at First Stage of Recovery After Daesh Defeat – Official

    "That's why Ankara decided to give a helping hand to Iraq, especially given that Turkey itself isn't experiencing great difficulties and is now economically stable," according to Oyasal.

    He also noted that the Arab countries' money flows into the United States and that they are not interested in maintaining stability in Iraq.

    He argued that Arab Muslim countries pursue different policies from other Muslim countries such as Turkey.

    "Turkey develops production and trade and it is independent in its decisions. Ankara benefits from neighboring countries being stable and safe too," he said, ruling out the possibility of Turkey rendered financial assistance to Iraq on some secret terms.

    Earlier this week, Turkish Foreign Minister Mevlut Cavusoglu promised five billion dollars in loans and investment for reconstruction of Iraq which was hit by three-year war with the Daesh terrorist group.

    The views expressed in this article are solely those of the speakers and do not necessarily reflect the position of Sputnik.

    Related:

    Turkey Not to Limit Anti-Terrorist Op to Syria, Ready to Fight in Iraq - Ankara
    Moscow Welcomes Turkey-Iraq Normalization - Russian Foreign Minister
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    oil, trade turnover, government, reconstruction, war, energy, profit, Turkey, Iraq
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