Consequences of the Missile Attack on Iraqi Kurdistan: Turkish Goods Take Over the 'Made in Iran' Market

Following the missile attack by the Islamic Revolutionary Guard Corps (IRGC) on Iraqi Kurdistan and the imposition of a ban on 'Made in Iran' goods, the ILNA news agency has reported a decrease in Iran's market share in Sulaymaniyah, stating that the market is almost dominated by Turkish products. The Vice President of the Sanandaj Chamber of Commerce mentioned that Turkey has established a strong presence in the Iraqi Kurdistan market, with Turkish goods being traded several times more than Iranian goods in the region. Seyed Kamal Hosseini emphasized that Turkey has invested in economic development for years and has surpassed Iran in this regard. He noted that challenges arising from the removal of currency obligations have reduced the volume of private sector exports to Iraqi Kurdistan this year. After the IRGC's missile attacks on Iraqi Kurdistan, the issue of banning Iranian goods by the region's officials was raised, which is one of the factors leading to the loss of market share in this area. Previously, the Iraqi government had also announced a ban on any currency exchange by Iraqi exchange offices and banks with Iran. This ban has resulted in a 20% increase in the cost of economic transactions with Iraq, paving the way for a stronger presence of Turkish and Saudi goods in Iraq. The spokesperson for the Kurdistan region stated that the world must respond seriously to the Iranian government's aggression. The Iraqi Foreign Minister rejected the Islamic Republic's claims; Mossad has no base in Iraqi Kurdistan. The United States condemned the attacks by groups affiliated with the Islamic Republic on civilian infrastructure in Iraqi Kurdistan. A drone attack on a gas field in Iraqi Kurdistan led to widespread power outages.