BAGHDAD (Agencies): Iraqi Prime Minister Mohammed Shia Al-Sudani has called on Kuwait to participate in Iraq’s strategic Development Road project during a meeting with Kuwaiti Ambassador to Iraq, Hassan Zaman, on Sunday. Al-Sudani emphasized the importance of enhancing bilateral relations across various sectors and highlighted the favorable investment environment for Kuwaiti companies.
The Development Road project, signed in April 2024 under the sponsorship of Turkish President Recep Tayyip Erdogan and Al-Sudani, involves Iraq, Turkey, the United Arab Emirates, and Qatar. The project aims to connect the Al-Faw Grand Port in southern Iraq to the Turkish border, creating a regional corridor for transporting goods and energy.
Al-Sudani noted that Kuwait’s involvement would strengthen economic integration and mutual interests between the two countries. The project is expected to generate numerous job opportunities and attract global trade, positioning Iraq as a transit hub between Asia and Europe. The Development Road project, which involves constructing railways, roads, ports, and cities, is expected to generate $4 billion annually and create at least 100,000 jobs. It will also support security and stability in the region by enhancing economic cooperation and integration.
The project is planned to be completed in three stages by 2028, 2033, and 2050, with the entire project expected to be completed by 2025. However, the project faces challenges related to Iraq’s political environment and potential conflicts. Coordination among the involved countries and ensuring political stability in Iraq will be crucial for the project’s success.