Iraq – Iraqi Prime Minister Mohammed Shia al-Sudani announced yesterday, Saturday, the completion of the designs of the railway routes in the “Development Road” project with Turkey, Qatar and the Emirates.
This came during a dialogue seminar on the “Development Road” project and the investment opportunities it offers.
Al-Sudani said that the railway designs for the project “have been fully completed,” according to what was reported by the official Iraqi News Agency (INA).
He added that the project would take five years to complete, and that it would transform Iraq into an “open country.”
On April 22, Turkey, Iraq, Qatar and the UAE signed a quadripartite memorandum of understanding in Baghdad for cooperation on the “Development Road” project, under the auspices of Turkish President Recep Tayyip Erdogan and Al-Sudani.
Regarding financing the project on the Iraqi side, Al-Sudani pointed out, during the symposium, that the government “approached the World Bank to begin implementing the development road from Basra Governorate (south) to Mosul Governorate (north).”
He explained that “the agreement with international companies is a positive indicator with the international partnership.”
Al-Sudani pointed out that his government “will also repeat the experience of the sixties and seventies to work in the private sector in this project.”
He stated that the next meeting of the Ministerial Council on the “Development Road” project will be held in November.
He stressed that “the government has begun preparing a study on forming an authority to manage the development road project.”
On August 29, Istanbul hosted the first ministerial meeting between Turkey, Iraq, Qatar and the United Arab Emirates, to discuss the “Development Road” project.
The meeting, which was held at Dolmabahce Palace, was attended by Turkish Minister of Transport and Infrastructure Abdulkadir Oraloğlu and his Iraqi counterpart Razzaq Muhibs Al-Saadawi, while Qatari and Emirati participation was via video conference.
The “Development Road” project consists of land and railway roads extending from Iraq to Turkey and its ports, with a length of 1,200 kilometers inside Iraq, and aims to transport goods between Europe and the Gulf countries, especially Qatar and the Emirates.
Source: RT
#Iraq #announces #completion #railway #designs #Development #Road #project
2024-09-15 06:49:16
What are the expected benefits of Iraq’s ”Development Road” project for regional trade and investment?
Table of Contents
Iraq’s “Development Road” Project Gains Momentum: Railway Designs Completed, International Partnerships Forged
In a significant development, Iraqi Prime Minister Mohammed Shia al-Sudani announced on Saturday the completion of designs for the railway routes in the ambitious “Development Road” project, a quadripartite initiative with Turkey, Qatar, and the United Arab Emirates. This milestone marks a crucial step forward in the project, which aims to transform Iraq into a regional transportation hub, opening up new investment opportunities and strengthening ties with its regional partners.
A Game-Changer for Iraq’s Economy
The “Development Road” project is a massive undertaking that will take approximately five years to complete. Once finished, it will convert Iraq into an ”open country,” connecting its northern and southern regions through a comprehensive network of railways, highways, and infrastructure. This will not only boost trade and commerce within the country but also provide a significant impetus to the region’s economic growth.
International Partnerships and Financing
The project has garnered significant international support, with Turkey, Qatar, and the UAE committing to collaborate on the initiative. In April, the four countries signed a memorandum of understanding in Baghdad, paving the way for cooperation on the project. The Iraqi government has approached the World Bank to secure financing for the project, which will be implemented in phases. The government has also expressed its intention to involve the private sector in the project, echoing the country’s successful experiences in the 1960s and 1970s.
Key Milestones and Upcoming Events
The first ministerial meeting on the “Development Road” project was held in Istanbul on August 29, bringing together representatives from Turkey, Iraq, Qatar, and the UAE.
The next meeting of the Ministerial Council on the project is scheduled for November.
The Iraqi government has begun preparing a study on forming an authority to manage the development road project.
Transforming Iraq’s Transportation Infrastructure
The “Development Road” project will revolutionize Iraq’s transportation infrastructure, providing a modern, efficient, and sustainable network of railways and highways. This will not only reduce travel times and increase connectivity between regions but also enhance the country’s competitiveness in the regional and global economy.
Strengthening Regional Ties
The project reinforces the strong ties between Iraq and its regional partners, demonstrating the country’s commitment to collaboration and cooperation. By working together, the four nations can leverage their collective strengths to drive economic growth, stability, and prosperity in the region.
Conclusion
The completion of the railway designs for the “Development Road” project marks a significant milestone in Iraq’s journey towards economic transformation. With international partnerships in place and financing arrangements being finalized, the project is poised to take off in the coming years. As Iraq embarks on this ambitious initiative, it is clear that the country is committed to reclaiming its position as a regional leader and a key player in the global economy.
Keyword Tags:
Iraq Development Road project
Railway routes
Turkey-Qatar-UAE partnership
Iraqi Prime Minister Mohammed Shia al-Sudani
Economic transformation
Regional transportation hub
Investment opportunities
International partnerships
Financing arrangements
Private sector involvement
World Bank
Ministerial Council meeting
Istanbul
Baghdad
Basra Governorate
* Mosul Governorate
What are the key benefits of Iraq’s “Development Road” project for regional trade and investment?
Iraq’s “Development Road” Project Gains Momentum: Railway Designs Completed, International Partnerships Forged
In a significant development, Iraqi Prime Minister Mohammed Shia al-Sudani announced on Saturday the completion of designs for the railway routes in the ambitious “Development Road” project, a quadripartite initiative with Turkey, Qatar, and the United Arab Emirates. This milestone marks a crucial step forward in the project’s implementation, which is expected to transform Iraq into an “open country” and boost regional trade and investment.
Project Overview
The “Development Road” project embodies a vision of connecting Iraq with its neighbors and facilitating the transportation of goods between Europe and the Gulf countries. The project consists of land and railway roads extending from Iraq to Turkey and its ports, with a total length of 1,200 kilometers inside Iraq. Upon completion, it is expected to revolutionize regional trade by providing a shorter and more efficient route for goods to flow between Europe and the Gulf.
International Partnerships
The “Development Road” project is a testament to the power of international cooperation and collaboration. The quadripartite agreement between Iraq, Turkey, Qatar, and the United Arab Emirates demonstrates the commitment of these nations to fostering economic growth and development in the region. The project’s success will depend on the continued support and engagement of these partners, who will work together to overcome challenges and promote mutual benefits.
Expected Benefits
The “Development Road” project is expected to bring numerous benefits to Iraq and its regional partners. Some of the key advantages include:
Boost to Regional Trade: The project will provide a shorter and more efficient route for goods to flow between Europe and the Gulf, reducing transportation costs and times.
Increased Investment: The project is expected to attract significant investment in Iraq, creating new opportunities for businesses and stimulating economic growth.
Job Creation: The project will create thousands of jobs in Iraq, both during the construction phase and in the long term, as the country becomes a major transportation hub.
Diversification of Economy: The project will help diversify Iraq’s economy, reducing its dependence on oil exports and promoting the growth of other sectors.
* Improved Infrastructure: The project will lead to the development of modern infrastructure in Iraq, including roads, railways, and ports, which will have a positive impact on the country’s overall economic development.
Next Steps
With the railway designs now complete, the next step will be to secure financing for the project. The Iraqi government has approached the World Bank to begin implementing the development road from Basra Governorate (south) to Mosul Governorate (north). The government is also planning to repeat the experience of the sixties and seventies by working with the private sector in this project.
The Ministerial Council on the “Development Road” project will meet again in November to discuss the project’s progress and finalize the remaining details. The Iraqi government has also begun preparing a study on forming an authority to manage the development road project, which will ensure its smooth implementation and operation.
Conclusion
Iraq’s “Development Road” project is a game-changer for regional trade and investment. With the completion of the railway designs and the formation of international partnerships, the project is now poised to take off. Once completed, it will transform Iraq into a major transportation hub, boosting economic growth and creating new opportunities for businesses and individuals alike. As the project moves forward, it is essential to maintain the momentum and commitment of all stakeholders to ensure its successful implementation and long-term sustainability.
