Turkish President Erdoğan says Ankara is backing the Development Road Project. Erdogan said he is aware that many countries are trying to expand their area of influence by creating trade corridors and Turkey backs the Iraq Development Road Project, which aims to connect the Gulf to Turkey and Europe through a railway and highway via ports in the UAE, Qatar and Iraq. Erdogan said UAE President Mohammed bin Zayed, in particular, "made a much more determined suggestion on this issue on Saturday". The development road project entails the creation of a dual-track railway spanning approximately 1,200 km and the construction of a modern highway running out of al-Faw, a port in southern Iraq's Basra governorate.
The Iraqi government envisions trains operating at speeds of up to 300 kilometres per hour facilitating the transportation of both passengers and goods.
Additionally, plans include the establishment of logistic hubs, industrial complexes and the potential integration of oil and gas pipelines.
This ambitious scheme is estimated to require an investment of around $17bn, with projected annual returns of $4bn and the creation of a minimum of 100,000 jobs.
The Turkish president quoted the Emirati leader as saying: "Let's not prolong this matter, let our friends finish the negotiations in 60 days, and let's lay the foundations immediately and hit the road.”
Erdogan added: “The United Arab Emirates is very ready for this job. Qatar is very ready. We are very, very ready for it. I hope we will have taken this step in this way.”
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