Business · Trade · 5 hrs ago
Turkey projects $55 billion economic gain from Iraq-Europe trade corridor
Turkey's transport minister says the Development Road could add about $55 billion to the economy over 10 years.
The planned route would run from Iraq's Faw port through Turkey and on to Europe.
It is intended to add a north-south link to existing east-west routes, as countries seek alternatives amid conflicts and tensions affecting trade routes.
The minister says the project could create an average of 70,000 jobs a year in Turkey.
He says the journey would take about 25 days, compared with 45 days around the Cape of Good Hope and 35 days on the southern route.
The corridor could strengthen trade ties between Turkey and Iraq and link the Gulf with Europe.
Turkey and Saudi Arabia have also signed a memorandum of understanding on cooperation to revive the historic Hejaz Railway.
Turkey’s transport minister projected that the Iraq-Europe Development Road could contribute about $55 billion to the Turkish economy over 10 years.
Abdulkadir Uraloğlu said the project could create an average of 70,000 jobs a year in Turkey.
The corridor is planned to connect Iraq’s Al-Faw Port and the Persian Gulf to Europe through Turkey.
Uraloğlu said the route could take about 25 days, 20 days less than the route around the Cape of Good Hope.
He described the project as a way to strengthen trade links between Turkey and Iraq and complement existing trade networks.
- Who
- Turkey’s Transport and Infrastructure Minister Abdulkadir Uraloğlu presented the projections.
- What
- He said the Development Road could contribute about $55 billion to Turkey’s economy over 10 years and create an average of 70,000 jobs a year.
- When
- October 19, 2026.
- Where
- The projections were presented at a conference in Ankara. The planned corridor would run from Iraq’s Al-Faw Port through Turkey to Europe.
- Why
- Uraloğlu said the project would provide a complementary trade route and strengthen economic ties between Turkey and Iraq.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Projected economic contribution
- About $55 billion over 10 years
- Projected annual employment
- An average of 70,000 people
- Planned route
- Al-Faw Port in Iraq through Turkey to Europe
- Projected travel time
- About 25 days
- Comparison with Cape of Good Hope route
- 20 days shorter
3 sources
What people are saying
Turkey’s corridors cannot function without Turkey.
We expect the project to contribute approximately $55 billion to our economy over a 10-year period and to provide employment opportunities for an average of 70,000 citizens every year.