EXCELLENT NEWS: Chinese government to hold conference on Iraq’s Development Road Project
According to the Chinese Ambassador to Iraq, Cui Wei, the Chinese government will hold a conference on Iraq's Development Road.
In Baghdad, Wei discussed cooperation between Iraq and China with the Iraqi Minister of Transport, Razzaq Al-Saadawi.
"Iraq wants China to be a major participant in its $17 billion rail and road project linking Asia to Europe, Transport Minister Razzaq Al Saadawi said after meeting the Chinese ambassador to Baghdad."
According to Al-Saadawi, "We are looking forward to strengthening our partnership with China. We respect Beijing's scientific and technical progress and are eager to benefit from Chinese expertise in a range of transportation-related areas."
After examining the project's comprehensive details and economic feasibility, the Chinese Ambassador announced his government would participate.
Beijing has expressed interest in becoming involved with the project; as a result, the embassy has already sent its economic counselor to the General Company for Iraqi Railways to gather more information.
According to the Chinese Ambassador to Iraq, China's National Development and Reform Commission is officially authorized to communicate with the Iraqi Ministry of Transport regarding this project.
Chinese participation in the Development Road will positively impact the Iraqi side, indicating that China wants a stronger relationship with Iraq.
Iraq's Development Road is an important link between Asia and Europe, and many Arab, regional, and European countries have expressed their willingness to participate in its construction.
It will extend a railway and road network from the Al-Faw Grand Port in southern Iraq to the Turkish border.
To compete with Egypt's Suez Canal, the project is expected to make the country a transit center by reducing travel times between Asia and Europe.
Hi guys, Sandy Ingram here. Welcome. I have exciting news today. China had decided to take up interest in Iraq and Turkey's Development Road Project. This is excellent news because, with China in the picture, Iraq is on the path to success with this project.
We, as investors, are looking for the Development Road Project to increase the GDP of Iraq and provide another high annual income stream. All of this points to a higher value in the Iraqi currency.
This is major. The estimated cost of the project is $17 billion. That number will go up another billion by the time everything is done. The Development Road Project will begin in the Gulf and travel through Iraq on rail and trucks. Enter into Turkey and then empty out into the Mediterranean Sea. As you know, Europe is wide open once you reach the Mediterranean Sea. The channel will keep you updated.
WHAT THE DEVELOPMENT ROAD PROJECT IS EXPECTED TO DO FOR IRAQ
