News geopolitical data the signing today brings to Baghdad of memorandum of understanding between Iraq, Turkey, Qatar and the United Arab Emirates to create the “Road of Development”. Iraq’s cooperation with the other countries, which will connect the Gulf to Europe through Turkey, is a strategic move that makes the region a critical trade and energy hub.
“I believe that my visit and the agreements just signed will be a new turning point at relations between Turkey and Iraq“, said Turkish President Erdogan, who is in Iraq today, after 13 years.
The awe-inspiring rival of IMEC
The Development Corridor is considered the rival awe of the India-Middle East-Europe Economic Corridor (IMEC), in which Greece also participates and was presented at the G20 summit in India last September, exploding like a ‘bomb’ in the markets. The IMEC Corridor, also known as “modern spice street” was in turn the response to the Chinese “Belt and Road Initiative”. After the agreement in India, the Turkish president had reacted strongly, because he had been excluded from IMEC, saying characteristically: “There can be no corridor without Turkey”.
Development Road
The “Development Road” project is an ambitious initiative that aims to enhancement her regional connectivity and trade between Asia, Europe and the Gulf regions. The project, which is supported by Turkey and Iraq, includes the building railways, roads, ports and cities to connect Iraq with Turkey. One of the main objectives of the project is to reduce travel time between Asia and Europe via Turkey, with the Grand Faw port acting as the first phase of the Iraqi Silk Road, an alternative route to the Suez Canal. The 1,200-kilometer (745-mile) railway and highways will link the port of Great Faw, planned to become the largest port in the Middle East, with the Turkish border, at an expected cost of $17 billion.
The project is considered the foundation of a non-oil sustainable economy and is expected to boost employment and increase the value of gross domestic product (GDP). It is scheduled to be completed in three stages in 2028, 2033 and 2050 and will open Iraq to the world through Turkey.
The Republic of Turkey is considered an important strategic partner in Iraq’s development, and Turkish companies have already played an important role in Iraq’s infrastructure projects. The project is expected to have a wide-ranging impact from Europe to the Gulf countries, and Iraqi Prime Minister Sundani has praised Turkish companies for their contribution to his country’s infrastructure. However, there are also disagreements between Turkey and Iraq, such as Turkish security operations in northern Iraq against the PKK, the disagreements regarding him division of the waters of the Tigris and Euphrates rivers and the transportation of oil from the Iraqi area of Kurdistan through a pipeline to Turkey, which Baghdad opposes. These issues are being discussed today in Baghdad in order to reach consensus and agreement.
