(MENAFN) In a significant development on Monday, Iraqi Prime Minister Muhammad Shiaa al-Sudani and Turkish President Recep Tayyip Erdogan formalized a collaborative effort by signing a four-way memorandum of understanding. This memorandum, involving Iraq, Turkey, Qatar, and the UAE, aims to foster cooperation in the ambitious "Development Road Project."
Prime Minister al-Sudani underscored the memorandum's objective, highlighting its focus on joint cooperation to advance the strategic Development Road Project. The agreement represents a concerted effort to pool resources and expertise from the participating countries toward a common goal of infrastructural development and connectivity.
The signing ceremony saw the participation of key officials from each country. Representing Iraq was Minister of Transport Razzaq Muhaibes, while Turkey was represented by Minister of Transport and Infrastructure Abdulkadir Oraloglu. Qatar's Minister of Transportation Jassim bin Saif Al-Sulaiti and the UAE's Minister of Energy and Infrastructure Suhail Muhammad Al-Mazrouei completed the signing delegation.
A statement issued following the signing emphasized the significance of the Strategic Development Road Project in driving economic growth and fostering regional and international cooperation. By promoting economic integration between East and West, the project is poised to enhance international trade, facilitate commerce, and provide a competitive transport route, thereby contributing to regional economic prosperity.
The collaborative nature of this multilateral initiative reflects a shared commitment among the participating nations to leverage infrastructure development as a catalyst for sustainable economic advancement. Through concerted efforts and mutual cooperation, the Development Road Project is poised to unlock new opportunities for regional connectivity and prosperity, laying the groundwork for enhanced trade and commerce across borders.
MENAFN23042024000045015682ID1108126929
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.