Economist: Iraq may get half a trillion dollars annually if it is linked to the Silk Road
economic Last update 01/26/2022 | 6:42 pm
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Economic analyst Younis Al-Kaabi said, on Wednesday, that if Iraq agreed to the Silk Road project, it would generate revenues of more than $500 billion annually, while referring to the project, which would revive the entire economic aspect of the country.
Al-Kaabi told the agency, "Information", that "the initiative put forward by China, which includes more than 64 countries, is not just a transportation road project, but a package of important economic projects such as transportation, tourism, and the establishment of industries and oil and industrial facilities," noting that
"the project also includes the construction of roads." Fast, ports and transportation lines shorten the long sea routes that are now used by global maritime trade.”
He added, "Iraq has not yet taken a decision about its approval of the Silk Road project. If approved, it will not bear any costs related to the project, but the entire initiative will bear China's high costs," noting that
"the volume of investment in the project is currently approximately $500 billion, and it is possible that Iraq’s revenues from revenues through transit will be much more than this number, because most of global trade will pass through Iraq.”
Al-Kaabi explained, "The revenues of the Silk Road will be the first and main axis that enters Iraq, followed by oil, meaning that it will reduce its dependence on the oil side only," stressing that
"the project will revive the entire economic aspect of the country and even the country's infrastructure will change to be compatible with China's standards for the establishment of this road." Global".
The analyst concluded by saying, "China will try to transfer its industries and establish new industries to the countries that participate in this initiative to shorten costs and be at preferential prices, and
thus provide many job opportunities in establishing this road and in the industries that follow it."