ISIS violence sets back decade of Middle East trade growth

|By:, SA News Editor

The escalating violence in Iraq and Syria is disrupting trade routes all across the Middle East, and reversing the region's past decade of growth. Supplies have either been either interrupted, or have needed to be re-routed, increasing costs in any scenario.

Economic difficulties are also hitting Turkey, as the country is Iraq's second biggest export market after Germany, with $12B of sales last year.

“There is no problem with our trade with Kurdistan but to get our trucks down to the rest of Iraqi territory will be very difficult,” says Serif Egeli, a Turkish businessman. “As long as there is no government in Baghdad, it is very difficult to go on with projects and if there are no projects, you can’t sell much more than textiles and food.”

ETFs: TUR, EIS, ISRA, UAE, QAT, EGPT, GULF, MES