Large trade corridor linking Iraq with Turkey, Saudi Arabia, UAE to be launched
The construction work in the Al-Faw Grand Port in southern Iraq. Photo: INA
Baghdad (IraqiNews.com) – The Turkish President, Recep Tayyip Erdogan, announced on Sunday the launch of a regional railway and port corridor with Iraq, Saudi Arabia, and the UAE.
Erdogan, during a press briefing at the conclusion of the G20 summit in New Delhi, expressed his hope that the port and railway corridor project will operate in line with China’s Belt and Road Initiative.
The Turkish President confirmed that the trade corridor will start in Saudi Arabia and the UAE, extending through Iraq to Turkey, indicating that the initiative aims to enhance trade exchange between countries and facilitate the movement of goods and commodities.
The Belt and Road project is a network of roads, ports, and railways covering more than 100 countries.
In February, Argentina announced that it would join China’s Belt and Road Initiative to receive $23.7 billion from Beijing to finance various projects.
US President Joe Biden announced a plan to build a railway and shipping corridor linking Israel, India, Saudi Arabia, the UAE, Jordan, and the European Union to increase trade and political cooperation.