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Türkiye: The development road with Iraq will link FAO to London

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Türkiye: The development road with Iraq will link FAO to London
Economy     Iraq     Türkiye     Development path
2024-04-22 23:15
Shafaq News/ The Turkish Minister of Transport and Infrastructure, Abdulkadir Oraloglu, confirmed on Tuesday that the
Development Roadproject will allow goods to be transported to all European countries without interruption via a land route and railway extending from the Iraqi port of Al-Faw to the British capital, London. Oglu said in a statement followed by Shafaq News Agency,
 “Turkey, Iraq, Qatar, and the UAE signed in Baghdad a four-way memorandum of understanding for cooperation on the development road project, under the auspices of Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Muhammad Shia’a al-Sudani.” He pointed out that
"the large port of Al-Faw in Iraq is important in the project as a transit center," explaining that
"the project will significantly reduce travel time between Asia and Europe via Turkey."  He continued:
"Through the development road project that we are implementing based on the advanced and growing volume of trade in the world and the strategic location of Turkey,
we will allow uninterrupted transportation to all European countries via land and railway from the port of Al-Faw to London."  The Turkish Minister stated that
"the development road will shorten the time on the ship departing from the port of Al-Faw to Europe by 15 days compared to the Suez Canal," stressing that
"the project will open a new door with regard to regional trade."
Yesterday, Monday, Iraq, Turkey, the UAE, and Qatar signed a four-way agreement regarding the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Muhammad Shia al-Sudani and Turkish President Recep Tayyip Erdogan.
The agreement aims to enhance cooperation regarding the Iraq Strategic Development Pathway Project, as the four countries will work to establish the necessary frameworks to implement the project, according to a statement issued by the Prime Minister’s Office.
The Iraqi Minister of Transport, Razzaq Al-Saadawi, the Turkish Minister of Transport and Infrastructure, Abdul Qadir Oraloglu, the Qatari Minister of Transport, Jassim Al-Sulaiti, and the Emirati Minister of Energy and Infrastructure, Suhail Mohammed Al-Mazrouei, signed the agreement. Agreement on behalf of their countries.
It is expected that the strategic development road project will contribute to stimulating economic growth and strengthening regional and international cooperation relations, as it will achieve economic integration and sustainability between East and West.
The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.
The Iraqi Prime Minister had previously stated that the development road represents a global corridor for transporting goods and energy.
Al-Sudani explained that the project includes a railway line to transport goods with a capacity of 3.5 million tons in its first phase, which will rise to 7.5 million tons in the second phase.
The Iraqi Prime Minister explained that the project will also include a

     land transport highway and
     energy transport pipelines, in addition to the large Al-Faw port and the
     industrial city expected to be one of the largest ports in the Middle East.
The project will generate many job opportunities for Iraq and the countries of the region, as well as opportunities for industries and businessmen, and will be a center for attracting global trade.
Many Arab, regional and European countries have expressed their willingness to participate in the Iraq Development Road Project, either by pumping investments or participating in construction work, as it constitutes an important link between Asia and Europe.
The value of the project is estimated at about 17 billion dollars.
It will link the large port of Al-Faw in southern Iraq to the border with Türkiye by extending the railway and road network.
The project is expected to turn the country into a transit hub by shortening travel time between Asia and Europe in an attempt to compete with Egypt's Suez Canal.   
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