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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    What is the secret of Turkey and the UAE’s interest in Iraq’s “development path”?

    Rocky
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    What is the secret of Turkey and the UAE’s interest in Iraq’s “development path”? Empty What is the secret of Turkey and the UAE’s interest in Iraq’s “development path”?

    Post by Rocky Tue 30 Apr 2024, 4:18 am

    [size=35][size=35]What is the secret of Turkey and the UAE’s interest in Iraq’s “development path”?[/size]
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    Economy

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    2024-04-30 | 04:36
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    Alsumaria News - Economy

    follows a British report, the starting point of the Al-Faw port project and the dry canal, which was later called the “development road”, since the announcement of its launch in 2010, and that it was an old dream and dates back to periods even older than this date, while the report touched on Reasons for Turkish, Qatari and Emirati interest in this project.



    A report published by the British BBC network said that, given the nature of the project in which Iraq plays the role of a focal point, convincing regional parties to stand behind the project represents one of the biggest challenges that Iraq must overcome.


    While specialists believe that Iraq succeeded in luring Turkey to support the project, especially after Ankara was excluded from the economic corridor project between India, the Gulf and Europe, which was announced during the G20 summit in September 2023, which “prompted the Turks to adopt the Iraqi project with greater strength and momentum.” ".

    In turn, the Iraqi affairs expert at the Center for Middle East Studies in Ankara, Dr. Bilgay Doman, confirms that Turkish interest in the Iraqi project comes within a broader framework of changing Turkish foreign policy priorities, which have now focused on cooperation with the countries of the region and rejecting differences.

    Doman stresses that the Turkish-Iraqi discussion regarding the project began before the announcement of the economic corridor project between India, the Middle East and Europe, and points out that “the project is essentially an Iraqi project, and therefore what happened is that Iraq became more open to Turkish participation in the project, which is what we saw.” During the visit made by Iraqi Prime Minister Muhammad Shia al-Sudani to Turkey in March of last year.

    Doman expresses “extreme optimism” about the success of the project, justifying this by the keenness of both countries to move forward with it in light of the benefits that it will accrue to them, and the need of each of them to achieve economic benefits. Turkey needs to strengthen its economy, which has suffered from several crises, while Iraq seeks to diversify. His sources of income are away from oil.

    He points out that "half of the project has already been achieved, as Turkey has the necessary infrastructure that the project needs on the Turkish side, and what remains is the rehabilitation and construction of the infrastructure in Iraqi territory."

    The report points out that Iraq has not yet solved the financing problem in the project, as the revenues that the country is expected to reap from the project at $4 billion annually will not begin before the completion of the second phase in 2034, according to what the government’s announced time frame indicates. This is based on Assuming that there was no delay, at a time when none of the three countries expressed their willingness to finance the project.


    Despite all this, it seems that Iraq's Gulf neighbors, or some of them at least, have come to view Iraq as a promising destination for investment. After Iran and Turkey shared the Iraqi market for decades, several Gulf countries appear interested in developing economic relations with Baghdad, after a long delay. 20 years".


    This has changed in the past few years, which witnessed a significant improvement in the security and political situation, and Qatar was the first to invest in Iraq compared to its Gulf neighbors, indicating that the state-owned Qatar Energy Company acquired a 30% share of the French company Total’s projects in Iraq, after it had been The company has signed a contract with the Iraqi government to implement oil, gas and renewable energy projects worth $27 billion.

    Qatar appears interested in providing the Development Road Project as a corridor for its gas exports to reach Turkey and from there to Europe via Iraq, which represents one of the goals of Turkey, which seeks to be a center for energy transfer in the region and the world.

    Integration or competition?
    As for the UAE, the report indicates that its participation in the project stems from its interest in participating and even taking the initiative to establish several corridors for transporting goods and passengers between regions of the world, as it is among the countries included in the Indian-Middle Eastern corridor that reaches Europe.

    This April, Abu Dhabi Ports Company signed an agreement to develop the large Al-Faw port with the General Company for Ports in Iraq, which raises questions about how the UAE is involved in developing a port that some expect will compete with its ports.

    The report quotes specialists who ruled out the possibility of “there being a port capable of competing with the UAE’s ports in the region,” adding that the Gulf state seeks to be “the world’s port and airport,” and has made many strides in doing so.

    While academics rule out the idea of ​​competition between the region’s ports and corridors in general, “the volume of global trade increases annually, which makes the multiplicity of corridors a gateway to integration and not competition among them.”

    The report notes that the greatest opposition to the development road project starting from Al-Faw Port may come from Kuwait, which fears for the future of its port in Mubarak Al-Kabeer, which is only a few kilometers away from Al-Faw Port.

    As for Iran's position, the report rules out that Iran will play a disruptive role in Iraq, which has become its gateway to the world, and its lack of objection to the project may stem from its ability to benefit from it in the future by building side roads.

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