During a conference held in Baghdad last week, Iraq hosted high-level ministerial delegations from all neighboring countries (Turkey, Iran, Syria, Jordan, Saudi Arabia, Kuwait) along with representatives of the GCC, World Bank and the EU.
During the conference, Iraqi Prime Minister Mohammed Shia’ Al Sudani showcased the 17 billion dollar project focused on the transportation sector of the country by building a rapid cargo and passenger railway running from the new Grand Faw Port to the far north of Iraq at the Turkish border.
The 1200 km long railways will be accompanied by highways, energy plants and grids while also establishing the largest industrial city in the Middle East near the Grand Faw Port which is set to be completed by the end of 2024. The project will have 11 different stations in each Iraq province it will be running through which will enable generating more than 100,000 jobs by its completion.
This initiative marks a significant step towards economic diversification away from the oil sector where those new urban cities will attract diverse industries, utilizing local and imported resources to meet both local and regional demand, strengthen Iraq’s connectivity and partnership with its region and become a prominent exporter of modern industries.
Ultimately, this demonstrates the new Iraqi dedication to rebuilding itself into a new modern country with a strong and diversified economy given that it had successfully overcome its past security challenges. Therefore, the conference has achieved its goal of establishing partnerships and joint investments by Iraq and its regional and global partners in this development project that would help the region increase its economic, cultural and political integration.