Iraq, a strategic corridor for trade neighboring countries international and regional funding

Iraq, a strategic corridor for trade neighboring countries international and regional funding


expressed the Islamic Development Bank (IDB) Saudi Arabia’s willingness to provide funding and technical support to a project that aims to make Iraq a strategic corridor for trade with neighboring countries, including Saudi Arabia.

According to the Kuwaiti newspaper Al-Nahar in its Saturday edition, the Minister of Construction and Housing, Mohammed al Darraji reached with the Islamic Development Bank (IDB) Saudi Arabia to common understandings about the project.

The newspaper quoted Darraji during his stay at the headquarters of the Islamic Development Bank in Saudi Arabia as saying that “the talks come in coordination with the World Bank, who expressed his desire to cooperate with the ministry and securing banks other donors interested in providing support for the project, including the Islamic Development Bank, Saudi Arabia.”

He pointed out that “the project is of strategic projects that will provide Iraq’s corridors of trade and economic vitality of Iraq with neighboring countries.”

The increased importance of strategic Iraq كمرر the trade neighboring countries, especially Iran and Turkey after the events of Syria, which has made it unsafe area where these countries began to hold understandings with Iraq in this regard.

And sought Turkey to find a replacement for the corridor Syria after the suspension of the free trade agreement and increase the risk of transport through it, and one of these alternatives choose the sea route from the port of Mersin and Iskenderun (Brigade Iskenderun) for the delivery of goods to Saudi Arabia and the Gulf of Aqaba, but this is the way it costs financial burdens.

Because of this, the successful alternative is to open new gates with Iraq. In addition to Habur, which is the most important gateway to Turkey with Iraq, there is an intention to open new gates of the site (type and the UEFA Koi) west Akhabo by Minister of Trade and Customs Turkish my life Yazigi.