President: Türkiye’s Development Road Project to bring widespread economic benefits

Turkish President Recep Tayyip Erdoğan has announced that the Development Road Project will convert Türkiye’s geopolitical opportunities into a comprehensive economic advantage benefiting the entire region.

He made the remarks while speaking at the Global Transport Connectivity Forum in Istanbul, Caliber.Az reports via Turkish media.

President Erdoğan emphasised that escalating tensions in the region, uncertainties surrounding the Strait of Hormuz, and the regional airspace have underscored the critical importance of secure transport routes.

Highlighting the Middle Corridor’s potential, the Turkish leader stated it could facilitate an annual trade volume of up to $75 billion through rail freight. President Erdoğan noted that the Development Road Project will enable the transport of goods destined for Europe via Türkiye, starting from Iraq’s Faw port. 

"We anticipate that implementing projects for the Middle Corridor will generate a production impact of $114 billion and create an average of 144,000 jobs annually. With a 10-year projection, the Development Road is expected to generate over $50 billion in production impact and create an average of 63,000 jobs annually," he said.

The “Development Road” entails the construction of 1,200 kilometers of road and rail infrastructure stretching from Iraq’s Faw port to the Turkish border. This will grant Iraq direct access to European markets.

By Naila Huseynova