(MENAFN- Iraq Business News) By John Lee.
Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan presided over the signing of a quadrilateral memorandum of understanding (MoU) between Iraq, Turkey, Qatar, and the UAE in Baghdad on Monday.
The MoU focuses on mutual cooperation for the strategic "Development Road Project" and was signed in the presence of delegations from Iraq and Turkey, including ministers and advisors.
The MoU was signed by Iraqi Transport Minister Razzaq Muhibis, Turkish Transport and Infrastructure Minister Abdulkadir Uraloğlu, Qatari Transport Minister Jassim bin Saif Al-Sulaiti, and UAE Minister of Energy and Infrastructure Suhail Mohammed Al Mazrouei.
The agreement aims to establish frameworks for implementing the project, which is expected to stimulate economic growth and strengthen regional and international cooperation by promoting economic integration and striving for sustainable economies between East and West.
According to a statement issued after the signing, it will increase international trade, facilitate movement and commerce, provide a new competitive transport route, and enhance regional economic prosperity.
(Source: Media Office of the Prime Minister)
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