At the beginning of last week, within the framework of President Erdogan's visit to Iraq, an agreement on the road development project was signed between Turkey and Iraq. Its purpose is to extend from the Persian Gulf to Turkey and from there to establish a direct connection with the European continent. This project is considered as the New Silk Road. So, what can this project change in the global economy in the near future? What are the perspectives of this project?
Economic expert Dr. Muhammad Ali Ibrahim believes that although this project can benefit the countries in the region, it is not a project that can boost the global economy in the future:
"Of course, this is a good project like the "Galibi Development Center", but it will not contribute much to the international arena, as you know, the trade from the continent to Europe is not this way, it will continue to operate by land or by rail, so the trade the volume is very acceptable. But in any case, it is very important for these two countries, new routes will be opened, but I don't think it will attract a large part of global trade, because, as everyone knows, today a container ship has the capacity to take 24 thousand containers. No train has that much capacity. That is, no matter how much he does, he will not overtake 200 boats. But there are types of containers that can be transported this way. For this, the water corridor must be integrated with the land. However, this new construction opens up the horizons for the establishment of new cities, which will undoubtedly increase regional trade. Even this will pave the way for real development in Azerbaijan. For example, the existing and planned trade routes through Azerbaijan can be connected here and stimulate the strengthening of trade relations.
Economic expert and Prof. of Atatürk University. Dr. Kerem Karabulut said that this project will benefit many countries in the region, especially Azerbaijan, and bring security:
"The "Development Road Project", also known as the "New Silk Road Project", which includes the Land and Rail connection from Basra to Türkiye, is a project from which both Türkiye, Iraq and every connected country within a 1200 km geography will benefit. This project should not be considered an alternative to the Kars-Tbilisi-Baku and Kars-Iğdır-Nakhichevan-Baku roads. On the contrary, it should be considered as a complement to those paths. These projects result from Türkiye's strategic position as a bridge between Asia and Europe and its applications toward regional and world political economy. In case of a problem that may arise in one of the regions where these roads are located, the other one will be operated effectively, thus providing "sustainability" in a sense. Thus, Türkiye's key role between Asia and Europe will be strengthened. This will provide advantages in terms of political, economic, and international influence. Because we now know that the most effective way of development, other than maritime transportation, is "Railway Network Building", and it can be said that Türkiye is planning for the future with the railway connections it is trying to realize both internally and internationally. Of course, it should also be known that such projects do not create a situation to the detriment of any country. In addition, it can be said that Türkiye aims to eliminate the terrorism problem, which it has been fighting against for nearly 40 years, together with Iraq, with this Development Road Project to be carried out through Iraq. It's already called the "Development Path Project". By achieving development and stability along this route and improving cooperation between countries, the living spaces of terrorist organizations will be eliminated."
