Turkiye and Iraq to Build $17 Billion Asia-Europe Corridor | Vantage with Palki Sharma

Turkiye and Iraq to Build $17 Billion Asia-Europe Corridor | Vantage with Palki Sharma

war is not the only thing happening in
West Asia there is progress too and it’s
coming from an unlikely place War torn
Iraq on Monday Turkish president erdogan
visited the country it was a pretty rare
visit for him erdogan last traveled to
Iraq in
2011 and since then
relations have
suffered so this trip was all about
setting ties he got a guard of Honor in
Bagdad he met the prime minister of Iraq
and signed around 20 deals one of them
stands out a four-way agreement for a
transport Corridor it’s called the
development Road Project the plan is to
link Iraq’s Gulf Coast to Turkey how
with a series of roads and Railways and
from Turkey this route can extend to
Europe so basically a Europe to Asia
Corridor how much will it cost around
$17 billion along with Iraq and turkey
two other West Asian players are
involved that’s the UA and Qatar their
ministers were also in Bagdad on Monday
all of them signed an agreement to build
this
Corridor but how will it impact the
region for Iraq it could be a game
changer better infrastructure easy
access to oil fields and more trade they
may not have the funds to do it alone
but with Qatar and the UAE they can same
for erdogan he wants want to leverage
his country’s location you see turkey
straddles two continents Europe and Asia
so it’s Prime real estate for a
cross-continental corridor erdogan says
the project will bring stability and
prosperity to the
region we emphasized the vital
importance of the development route
project in terms of this goal with the
memorandum of understanding we signed we
reinforced our determination regarding
the strategic planning which will
contribute greatly to the stability and
prosperity of our entire region
especially
IR just one problem though erdogan’s
Corridor is not the only one another
Corridor was announced at the G20 Summit
last year the India middle east Europe
Corridor and this one takes a different
route Europe to Israel Israel to Saudi
Arabia and the UAE and from the UAE to
India a lot of European and West Asian
countries are part of this Corridor but
turkey is not so erdogan had opposed it
listen to his comments at the G20 this
is what he said there cannot be a
corridor without turkey turkey is an
important production and trade
base the most convenient line for east
to west traffic has to pass through
turkey so erdogan’s position is quite
clear no turkey no Corridor which is why
he’s pushing his own now both these
routes do have some things in common
they both bypass Egypt sus Canal they
also use a network network of roads and
Railways plus one partner is common and
that is the UAE it is investing in both
the India Europe Corridor and the Iraqi
one but there are key differences too
the biggest one is Israel the India
Europe Corridor had a political motive
to tie Israel and Arab states together
to link their economic fortunes The Hope
was that this would accelerate
normalization maybe lead to Saudi Arabia
recognizing Israel but all that has been
put on hold Israel is waging a war in
Gaza so Arab states will not be in a
hurry to normalize relations plus how
can you build a corridor in the middle
of a conflict and erdogan knows this he
has a short window to push ahead with
this project to complete it before the
others meaning he could have the first
mover’s advantage of course there are
challenges too for instance Iraq may not
be a war zone but security remains a
problem there multiple Iranian proxy
groups operate out of Iraq they often
clash with US forces es you also have
remnants of the Islamic State United
Nations data says up to 7,000 Isis
terrorists are left in Syria and Iraq
they could Target the trade Corridor so
Iraq or Israel the problem Remains the
Same security and it’s quite unfortunate
really because the potential is massive
Asia and Europe are two economic Gins
trade between them is almost $1 and A5
trillion dollar so there is room for
multiple corridors you you have turkey
and Iraq building one you have India and
Europe building one you also have Iran
and Russia planning one the
international north south Corridor
that’s what they’re planning these routs
could make trade more competitive and
cheap but only if conflicts and Petty
politics are put aside

Turkiye and Iraq to Build $17 Billion Asia-Europe Corridor | Vantage with Palki Sharma

Turkish president Recep Tayyip Erdogan has signed an agreement with Iraq, Qatar and the UAE to build a $17 billion economic corridor between Asia and Europe. The proposed corridor will be made up of railways and highways, and will connect southern Iraq to Europe via Turkiye. The agreement was signed by Erdogan during his first visit to Iraq since 2011. At the G20 last year, India and Arab Gulf states had announced a similar corridor passing through Israel. With the war in Gaza delaying the India-Europe corridor, Erdogan is pushing for the Iraqi corridor as an alternative to the Suez Canal which has been the traditional trade route between Asia and Europe. Palki Sharma tells you what this project means for Iraq, Turkiye and the region.

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Turkiye | Iraq | Europe-Asia Corridor | Recep Tayyip Erdogan | Firstpost | World News | News Live | Vantage | Palki Sharma | News

#europe #asia #corridor #iraq #türkiye #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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