Shafaq News/ Turkish President Recep Tayyip Erdogan delivered a speech on Monday at the Concordia Annual Summit in New York City, where he discussed the Turkish-Iraqi Development Road Project and its potential to create new opportunities on a global scale.
During his address, President Erdogan emphasized that the Turkish-Iraqi development Road project presented a "significant opportunity to build a new world." He stated that Turkiye had sensed a strong determination from Gulf countries to support and implement this initiative and reiterated Turkiye's commitment to its successful realization.
The Development Road Project is a $17 billion infrastructure project in Iraq that aims to connect Asia to Europe through a new motorway and rail network. The project will link the southern port city of Basra to the Turkish border, connecting to existing rail and road networks that lead to Europe.
The project is being funded by a consortium of Iraqi and international investors and is expected to be completed in 2028. It is expected to create thousands of jobs and boost the Iraqi economy by billions of dollars.
The Development Road Project is more than just a road and a railway. It is also a strategic project that aims to transform Iraq into a regional transportation hub. The project will also help to promote regional cooperation and economic integration.
The project is still in its early stages but can potentially be a significant game-changer for Iraq and the region.