Eximbank stands behind Iraqi, Russian exports

In the meantime, the Habur border gate reopened in January and priority was given to trucks carrying fresh produce. According to the Turkish daily Sabah, in January the Customs and Trade Ministry completed 70 percent of work related to the four new border gates, whose locations have already been determined. The new border gates will be located in Gülyazı, Aktepe, Ovaköy and Üzümlü, in attempts to provide alternative routes and lessen the load on the Habur border gate.

In the wake of a recession and on the heels of western sanctions coupled with the sharp fall in oil prices, Russian officials have decided to prohibit Turkish companies from bidding in construction tenders, participating in tourism, hotel and business services at the state and municipal levels, after Jan. 1. These sanctions came in reaction to the shooting down of a Russian fighter jet on Nov. 24 by Turkish forces after a Russian fighter jet violated Turkish airspace despite repeated warnings.

"If we had not experienced a crisis with Russia and some problems with the Habur Border Crossing, our export volume would have increased an additional $600 million in 2015," Economy Minister Mustafa Elitaş said during a meeting where he evaluated export figures, inflation, growth and political stability in January. Elitaş said the export figures achieved in 2015 met the expectations that were set in last year's revised medium-term program, adding: "We expected exports worth $143 billion and our total export volume was $143.9 billion."

According to the minister, were it not for the crisis experienced with Russia and problems with the Habur Border Crossing on the Turkish-Iraqi border, Turkey would have achieved an additional $600 million in exports. He attributed the slowdown in exports to Iraq and other countries in the region to seasonal problems, the crisis between Turkey and Russia and security forces' operations against the PKK terrorist organization in the southeastern parts of the country.