PM Al-Sudani: Iraq ready to export 80 local products
Shafaq News/ On Sunday, Iraqi Prime Minister Mohammed Shia Al-Sudani announced that about 80 locally manufactured products are now ready for export, highlighting Iraq’s expanding role as a regional economic hub.
Speaking to tribal leaders during Eid al-Adha celebrations, Al-Sudani emphasized a renewed focus on improving management across various sectors, stressing that ongoing economic reforms aim to reduce Iraq’s dependence on oil and accelerate efforts toward diversification.
Al-Sudani then outlined Iraq’s ambitions through the Development Road project, describing it as a “transformative initiative” designed to position the country as a key transit route in global trade. The project, he added, seeks to build a “new Iraq” by enhancing economic connectivity while maintaining an independent political stance on regional and international affairs.
In April 2024, Iraq joined Turkiye, the United Arab Emirates, and Qatar in signing a four-party agreement to advance the Development Road. This initiative aims to stimulate economic growth, boosting regional cooperation by improving trade flows, simplifying cargo movement, and establishing a competitive transport corridor linking East and West.
With an estimated investment of $17 billion, the project is expected to create around 100,000 jobs in its initial phase, with employment rising to as many as one million once fully completed.
