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Wed. May 22nd, 2024

Turkey, Iraq, the United Arab Emirates (UAE), and Qatar are set to hold a four-way ministerial summit to discuss the Development Road project, a major infrastructure initiative aimed at connecting Iraq to Europe via Turkey. This significant meeting is expected to take place within the next two months, as announced by Turkish officials on Wednesday.

The Turkish Minister of Transport, Abdulkadir Uraloglu, stated that the upcoming summit will focus on the Development Road project, a strategic plan designed to facilitate trade and boost economic cooperation across the region. The project aims to create a comprehensive transportation corridor from Iraq to Europe, incorporating railways and roads.

Uraloglu noted that this ministerial summit follows a recent agreement signed in Baghdad between Iraq, Turkey, the UAE, and Qatar, under the auspices of Iraqi Prime Minister Mohammed Shia Al-Sudani and Turkish President Recep Tayyip Erdogan. While the initial deal was bilateral between Iraq and Turkey, Uraloglu explained that the UAE and Qatar were brought into the fold through diplomatic efforts.

According to the Turkish Minister, weekly meetings are being held between officials from Turkey and Iraq to ensure the smooth progress of the Development Road project. The project is expected to significantly boost trade between Turkey and Iraq, with projections of an increase from $20 billion to potentially $30 to $40 billion once the project becomes operational.

The Development Road project is crucial for the region’s economic growth and is expected to promote greater regional and international cooperation. It is designed to achieve economic integration and sustainability by connecting East and West through a 1,200-kilometer corridor from Al-Faw Grand Port in southern Iraq to Faysh Khabur in northern Iraq’s Duhok governorate. This infrastructure project, which includes railway networks and roads, has the potential to revolutionize trade routes and foster closer ties among the participating nations.

As preparations for the summit continue, the four participating countries are committed to developing the necessary frameworks to advance the project. The outcomes of the summit are anticipated to lay the groundwork for broader economic partnerships and encourage further collaboration in the region’s transportation and trade sectors.

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