Bilgehan Engin, President of the International Transport and Logistics Service Providers Association, stated that commercial relations between Turkey and Iraq will improve with the Development Road Project, and trade volumes with neighboring countries will also increase.
Ankara Engin evaluated the developments regarding the project to an AA correspondent.
“With the Development Road Project,” uninterrupted transportation will be provided to every country in Europe. A “Development Road” memorandum of understanding was signed between Turkey, Iraq, Qatar, and the UAE. The transportation process will decrease to 25 days with the Development Road. $20 billion target for Turkey-Iraq trade with the Development Road Project Engin, who stated that the studies within the scope of the project to be conducted between Turkey and Iraq continue rapidly, said, “Significant developments are taking place in the Development Road Project, which will connect the Gulf of Basra to Europe via Turkey. President Recep Tayyip Erdoğan’s official visit to Iraq after a gap of 13 years is an important step for the Development Road. Within the scope of this visit, a Joint Cooperation Memorandum of Understanding on the Development Road Project was signed between Turkey, Iraq, Qatar, and the UAE.”
Engin emphasized that the said visit is also of great importance for drawing the roadmap of the Development Road.
Stating that the project, which affects a wide region from Europe to the Gulf countries and produces mutual benefits, is an important opportunity in terms of history, culture, and common gains as well as the convergence of economic hinterlands, Engin said that the Development Road Project, which will connect Turkey to the Great Faw Port in the Gulf of Basra, is defined as the “new Silk Road.”
“Transit transportation revenues will increase” Engin, stating that the recent events in the world directly affect the situation of the logistics sector, said:
“After the pandemic, the Russia-Ukraine War, Israel’s attacks on Gaza, the closure of the Suez Canal, and the hot developments in the Middle East are pushing those in the sector to find new initiatives and solutions. Considering the crises experienced in the world, the Development Road Project can be expressed as a lifeline in the logistics sector. Establishing an alternative route with the project will contribute to the solution of economic problems in the sector. With the Development Road Project, not only will commercial relations between Turkey and Iraq be improved, but trade volumes with neighboring countries will also increase. When the project comes to life, transit transportation revenues will also increase. Trade between the East and the West will significantly improve, and transit times will also decrease. In this way, the project will contribute to reducing logistics expenses.”
Engin also added that the Development Road Project will be the beginning of an important step for regional development, strengthening commercial, social, and cultural ties, and it is anticipated that the process will bring about new collaborations.
source: aa.com.tr/ prepared by Melisa Beğiç