Publication Details
Journal: Central Asian Journal of Innovations on Tourism Management and Finance
Issue: Vol 5, No 8 (2024)
Pages: 577-582
ISSN: 2660-454X
Check on Google Scholar DOI: 10.51699/cajitmf.v5i8.791 Visit Article Page

Abstract

This article focuses on Turkey’s plans to establish a new transport corridor, the "Development Road," which aims to connect the Persian Gulf countries with Europe via Iraq and Turkey. This 1200-km project, valued at $17 billion, includes the construction and modernization of railways and highways, as well as the creation of a maritime logistics hub at Iraq’s Grand Faw port. The key objectives of the project are to diversify international trade routes, strengthen regional trade, attract foreign investments, and position Turkey as an energy hub. The new route promises a 15-day advantage in cargo delivery compared to the Suez Canal and enhances Turkey’s economic and strategic significance in the region.However, the project faces challenges such as strained Iraq-Turkey relations, regional security issues, and competition from alternative initiatives, including Iran’s transport projects, the India-Middle East-Europe economic corridor, and China’s Belt and Road Initiative.

Keywords
Turkiye Development Road Persian Gulf Europe Iraq Grand Faw Port International Trade Routes Suez Canal Regional Trade Foreign Investments Energy Hub Iran India-Middle East-Europe Corridor Belt And Road Initiative (BRI) Investments Diversification Railway and Highway Networks
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