In a groundbreaking move, Qatar, Turkey, Iraq, and the United Arab Emirates have signed a historic agreement to establish the ambitious "Development Road" project. This massive undertaking aims to create a vital transportation link connecting the Gulf region with Europe through Turkey.

The four-way Memorandum of Understanding was signed in the presence of Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Mohammed Shia Al-Sudani during a ceremony in Baghdad on Monday. Qatar was represented by its Minister of Transport, Jassim bin Saif Al Sulaiti.

At the heart of this agreement lies the development of Al Faw Port in Iraq, a crucial maritime hub that will be connected to Turkey via an extensive network of infrastructure spanning 1,200 kilometers. This project, estimated to cost a staggering $17 billion, will involve the construction of interconnected railways and highways, facilitating seamless overland transportation between the Gulf and Europe.

The Iraqi Prime Minister's office stated that the memorandum outlines the necessary frameworks for the participating countries to implement this ambitious undertaking. The project is divided into three phases, with the first phase scheduled for completion by 2028, the second by 2033, and the final phase by 2050.

Once completed, the Development Road will transform Iraq into a pivotal trade hub, providing a much-needed economic boost to the country. Currently, Iraq's oil sector accounts for 90% of its revenue, with exports contributing more than 55% of its gross domestic product. This project presents an opportunity to diversify Iraq's economy and establish it as a strategic link between the Persian Gulf and the Mediterranean.

Historically, Iraq has been known as the "land between two rivers," connecting the Tigris and the Euphrates – an ancient trade route between the Persian Gulf and the Mediterranean. However, this vital trade route has faced significant disruptions due to conflicts and wars, including the Persian Gulf War in 1991 and the U.S. invasion in 2003, which caused extensive damage to the country's infrastructure.

The Development Road project holds immense potential to revive Iraq's role as a crucial transit point, benefiting not only the participating nations but also facilitating trade and economic cooperation throughout the region. By establishing a land and rail corridor, the project aims to create an efficient overland route between Europe and the Gulf Cooperation Council countries.

As the four nations embark on this ambitious endeavor, it represents a significant step towards strengthening regional cooperation, fostering economic growth, and enhancing connectivity between the Gulf and Europe.

Source: Construction Week Middle East