Turkish Foreign Minister to discuss Development Road Project in Baghdad
Shafaq News/ Turkish Foreign Minister Omer Bolat is set to visit Baghdad on Monday for high-level discussions about the Development Road project, an initiative linking the Gulf, Iraq, Turkiye, and Europe.
An Iraqi government source told Shafaq News that Bolat will meet with Iraqi Prime Minister Mohammed Shia al-Sudani upon his arrival in the Iraqi capital. “The talks will focus on key infrastructure and superstructure projects related to the Development Road,” the source added.
About Development Road Project
Iraq’s Development Road project, officially launched during Turkish President Tayyip Erdogan's visit to Baghdad in April, is set to become a cornerstone of regional trade and economic growth. Iraqi Prime Minister Mohammed Shia Al-Sudani says that the vital Road project "will transform Iraq from a landlocked country to an open one."
The project features a 1,275-kilometer (792-mile) rail and road network designed to streamline the movement of goods between Europe and the Gulf region. It is anticipated to significantly reduce trade costs between China and Europe, with energy playing a crucial role due to Iraq's substantial oil reserves.
The investment budget for the project is estimated at $17 billion, with $6.5 billion allocated for highways and $10.5 billion designated for an electrified railway.
In addition to transforming regional trade dynamics, the Road Project is forecasted to create 100,000 jobs in its first phase and potentially up to one million jobs upon completion.
