Türkiye to turn geopolitical edge into economic gain with Development Road Project: President

ISTANBUL

Türkiye will transform its geopolitical opportunities into a comprehensive economic advantage with the Development Road Project that will benefit the entire region, President Recep Tayyip Erdogan said on Friday.

His remarks came during his address at the Global Transport Connectivity Forum in Istanbul.

Cargo arriving at Iraq’s Faw Port is expected to reach Europe via Türkiye, thanks to the Development Road Project, Erdogan said.

“With a 10-year projection, the Development Road is expected to generate over $50 billion in production impact and create an average of 63,000 jobs annually," he further said.

The Turkish president highlighted that the biggest winners from the Development Road Projects are the countries of the region, including Türkiye and Iraq.

Drawing attention to the recent escalated tension in the region, Erdogan said that the regional tensions and uncertainties in the Strait of Hormuz and the airspace underline the importance of secure transportation routes.

On the Middle Corridor, Erdogan said that the potential of the Middle Corridor's trade volume via railway is around $75 billion.

"We anticipate that implementing projects for the Middle Corridor will generate a production impact of $114 billion and create an average of 144,000 jobs annually," he added.

Erdogan noted that Ankara has also put the Baku-Tbilisi-Kars Railway Line, "which forms the backbone of the Middle Corridor," into operation, adding that the country continues to address the further development of "this magnificent project" both bilaterally and on platforms such as the Organization of Turkic States.

Besides, Türkiye's efforts to harmonize the Middle Corridor with China's Belt and Road Initiative (BRI) continue, he said.

Stressing that they believe that peace and tranquility can only prevail throughout the world if humanity develops as a whole, Erdogan said: "This is why we are no longer talking about Türkiye's geopolitical position alone, but also its geostrategic island of trust."

He added that they are underpinning this stance with the transportation investments, humanitarian aid, enterprising foreign policy, "our conscientious stance," and "our contributions to the welfare of the peoples of the region."