Minister of Transport and Infrastructure Abdulkadir Uraloğlu stated in a written statement that talks were held in Iraq regarding the Development Road Project under the chairmanship of President Recep Tayyip Erdoğan. Minister Uraloğlu expressed that within the scope of the talks, a “Joint Cooperation Memorandum on the Development Road Project” was signed between Turkey, Iraq, Qatar, and the UAE.
Joint Cooperation Memorandum on the Development Road signed between Turkey, Iraq, Qatar, and the UAE Transportation period will be reduced to 25 days with the Development Road $20 billion target in Turkey-Iraq trade with the Development Road Project Uraloğlu emphasized that the Great Faw Port in Iraq is designed as an important transit center within the project, stating that they significantly reduced the travel time between Asia and Europe through Turkey.
Minister Uraloğlu highlighted that with the “New Silk Road” known as the Development Road Project, Turkey’s economic and geopolitical status will further strengthen, stating, “With the Development Road Project, which we conduct based on Turkey’s strategic position considering the developing and growing trade volume in the world, we will provide uninterrupted transportation from the Faw Port to every country in Europe by land and railway up to London.”
“Will open a new door for regional trade” Uraloğlu pointed out that using the development road by a ship departing from the Faw Port to Europe will provide a gain of 15 days compared to the Suez Canal, stating that this project will open a new door for regional trade.
Uraloğlu noted that the Development Road Project is not only complementary to existing transportation corridors in addition to being cost-effective and short-distance, stating, “Thus, it connects the east-west corridors in the north-south direction. The Development Road Project, which will directly contribute to the global trade system, will also contribute to the development and progress of all participating countries.”
“We aim to create an important commercial corridor on a global scale” Uraloğlu stated that technical teams from the countries involved in the project regularly meet, saying:
“The Development Road Project extends from the Persian Gulf to Turkey and Europe by land and railways. While connecting Iraq and Turkey, we also aim to create an important commercial corridor on a global scale. The project will also strengthen our country’s and region’s economic and geopolitical status.”
source: aa.com.tr/ prepared by Melisa Beğiç