Iraqi businessmen are in talks with Turkish companies to develop a $200-million real estate project at the high-security “Green Zone” in Baghdad, said a report.

Following a visit by the Turkish Prime Minister Binali Yıldırım to Iraq last week, an Iraqi business delegation is now in Istanbul to boost bilateral trade ties and also discuss key business proposals, reported Iraq Business News, citing a senior official.

The visit is vital for Iraq and comes at a time when Turkey’s exports to the country have plunged 50 per cent from $14 billion to $7 billion, stated Tevfik Öz, a member of the board of the Turkish-Iraqi Business Council.

Another Turkish delegation may visit Iraq in the coming days to take the Green Zone project discussion forward, he added.