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Can $20B Iraq Development Road project rival India-Middle East corridor?


Source: al-monitor.com al-monitor.com
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April 27, 2024 Turkey, Iraq, Qatar and the United Arab Emirates recently launched a new trade route connecting the Gulf with Europe as they pursue closer economic ties. Named the Development Road, it is the latest economic corridor in the region after China's Belt and Road Initiative and the India-Middle East-Europe Economic Corridor. Finalized during Turkish President Recep Tayyip Erdogan's visit to Baghdad on April 22, the project is projected to cost $20 billion, with most of the financial backing provided by Doha and Abu Dhabi. AD Ports, an Emirati company, has already signed a preliminary agreement for a joint…

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