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Iraq, Turkey, Qatar, UAE sign commercial corridor understanding
Iraq, Turkey, Qatar and the United Arab Emirates signed a memorandum of understanding in Baghdad today to cooperate in building a trade corridor linking the Gulf countries to Turkey and Europe.
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Turkish President Recep Tayyip Erdogan, on his first trip to Iraq since 2011, announced "the signing of a memorandum of understanding between Iraq, Turkey, Qatar and the United Arab Emirates, with a view to joint cooperation within the framework of the strategic Road of Development project".
At a press conference attended by Erdogan, Iraqi Prime Minister Mohamed Shia al Sudani noted, for his part, that the Road of Development is an "economic river linking East and West" that will pass through Iraq and continue to Europe.
Iraq, by launching the Road of Development, aims to take advantage of its geographical position and its multiple borders through this project that links the Persian Gulf to Turkey, with a length of 1,200 kilometers.
The project aims to boost cross-border trade and connectivity, not only between the countries of the region, but also between Asia, Europe and Africa.
"The memorandum stipulates that the signatory countries develop the necessary milestones to implement the project," according to the Iraqi prime minister's office.
This route could become a rival to the Suez Canal, currently heavily affected by the unrest in the Middle East due to attacks by Yemen's Houthi rebels on ships related to Israel in the Red Sea since the start of the Gaza war in October.
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