The MoU aims to enhance economic integration among these nations through the establishment of a strategic ‘Development Road’ project
Qatar has signed a Memorandum of Understanding (MoU) with the governments of Iraq, the United Arab Emirates, and Turkey for joint cooperation on the Development Road Project and Al Faw Port development. This agreement was finalized in the presence of Iraq’s Prime Minister, Muhammad Shia Al Sudani, and Turkey’s President, Recep Tayyip Erdogan.
The MoU was signed by Qatar‘s Minister of Transport, Jassim bin Saif Al Sulaiti; Iraq’s Minister of Transportation, Razzaq Muhibis Al Saadawi; the UAE’s Minister of Energy and Infrastructure, Suhail bin Mohamed Al Mazrouei, and Turkey’s Minister of Transport and Infrastructure, Abdulkadir Uraloglu.
The MoU aims to foster economic integration among these nations by establishing a strategic “Development Road” project that connects the East and West, facilitating global trade and enhancing commercial exchanges, industrial projects, and various transportation routes among the participating countries.
The project aims to establish a land route and railway spanning from Iraq to Turkey and its ports, covering a distance of 1200 kilometres within Iraq to transport goods between Europe and Gulf countries. The investment budget for the project is approximately $17 billion, and it will be executed in three phases: the first phase is expected to finish by 2028, the second by 2033, and the third by 2050.
