2024-04-23T08:48:45+00:00
Shafaq News/ On Tuesday, Turkiye’s Minister of Transport and Infrastructure Abdulkadir Uraloğlu announced that the “Development Road” project will establish a seamless transportation route from the Iraqi port of Basra to London, spanning road and railway networks and facilitating uninterrupted trade with European countries.
Uraloğlu stated, “The signing of a quadripartite memorandum of understanding for cooperation on the Development Road project by Turkiye, Iraq, Qatar, and the UAE in Baghdad was made under the auspices of Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Mohammed Shia Al-Sudani.”
Highlighting Basra’s pivotal role as a transit hub, Uraloğlu emphasized that the project will significantly reduce travel time between Asia and Europe through Turkiye.
“The Development Road projectwill enable uninterrupted transport to all European countries via a road and railway from the Basra port to London, leveraging Turkiye’s strategic location and the world’s growing trade volume.”
Anticipating a 15-day reduction in travel time compared to the Suez Canal route, Uraloğlu affirmed that the project would open new avenues for regional trade and bolster economic integration.
Earlier, Iraqi Prime Minister Al-Sudani underscored the project’s significance as a global trade corridor for goods and energy, encompassing railway lines, road networks, and energy pipelines. The project’s multi-phase approach, including capacity expansions and infrastructure enhancements, is poised to stimulate economic growth, create jobs, and attract global investments.
With an estimated value of $17 billion, the Iraq Development Road project signifies a strategic shift in regional transportation infrastructure, positioning Iraq as a vital transit center bridging Asia and Europe and fostering economic prosperity across the region.
