Travel time between Asia and Europe will decrease with the Development Road Project

The Development Road Project 1st Council of Ministers Meeting was held in Dolmabahçe, Istanbul. Minister of Transport and Infrastructure Abdulkadir Uraloğlu, who made a press statement after the meeting, said, “With the Development Road Project, we will provide uninterrupted transportation to every country in Europe by road and rail from the FAV Port built in Iraq to London. We will significantly reduce the travel time between Asia and Europe via Turkey.”

The Development Road Project 1st Ministerial Council Meeting was held by the Ministry of Transport and Infrastructure. Minister of Transport and Infrastructure Abdulkadir Uraloğlu met with his Iraqi, United Arab Emirates and Qatari counterparts at the meeting held at the Dolmabahçe Presidential Office. Minister Abdulkadir stated that the Development Road Project will significantly reduce travel time between Asia and Europe via Turkey and that with the project, uninterrupted transportation will be provided to every country in Europe via road and rail from the FAV Port built in Iraq to London.

“The cooperation of the four countries regarding the Development Path Project will reach the highest level”

Minister Uraloğlu, who stated that the cooperation within the scope of the project will be further strengthened, said, “During the visit of our President to Iraq on April 22, 2024, we signed the “Joint Cooperation Memorandum of Understanding on the Development Path” as Turkey, Iraq, the United Arab Emirates and Qatar. With this Memorandum of Understanding, we decided to establish the Council of Ministers within the framework of the Development Path Project between the four countries. Today, we hosted the first meeting of this council as Turkey. We had the opportunity to evaluate the project together and in detail through this council, which will take the cooperation of the four countries regarding the Development Path Project to the highest level. We discussed the contribution of the establishment of uninterrupted and rapid transportation through Turkey and Iraq to the transportation corridors. We also determined the steps to be taken in the future to reveal the concrete outputs of our cooperation in this field. We attach importance to the activities of the council in order to act together and quickly implement our plans. In addition, since it was our first meeting, we discussed the determination of the management and operating mechanisms of the Council of Ministers established within the scope of the Development Path Project and the future roadmap in this regard. Our meetings within this Council established within the scope of the Development Path Project will continue in the upcoming period. I have full confidence that our cooperation within the scope of the project will progress even stronger,” he said.

“This is a very important project both for the region’s geography and for global supply chains.”

Minister Uraloğlu, who stated that the travel time between Asia and Europe will decrease with the project, said, “The Development Road Project is a very important project not only for these four countries but also for the region’s geography and global supply chains. In addition, this project stands out not only as a transportation project but also as a much more comprehensive project that will increase the prosperity and stability of the region. With the “Development Road Project”, we will provide uninterrupted transportation to every country in Europe by road and rail from the FAV Port built in Iraq to London. We will significantly reduce the travel time between Asia and Europe via Turkey. A gain of 15 days will be achieved between the time a ship setting off from the FAV Port reaches Europe via the Suez Canal and the same cargo reaching Europe via the Development Road.”

“The Development Path Project will also contribute to the development and progress of all participating countries”

Minister Uraloğlu, who stated that the project will directly contribute to the global trade system, said, “Look, in continuation of the transformation that started in global supply chains with the Covid-19 pandemic, it has also accelerated the change process in the logistics map of the region we are in after the Russia-Ukraine war that started in 2022. Again, with the Israel-Palestine war that started in October 2023, commercial ship passages in the Suez Canal became problematic as a result of the security crisis in the Red Sea Region. This route began to be dispreferred by global shipping companies and they turned to the Cape of Good Hope instead. Ships departing from China and returning to the Cape of Good Hope also reach London, which they used to reach in 35 days, in approximately 45 days. There is a 10-day increase here as well, which means a cost increase of around 30 percent. In addition, the insurance costs of the ships using this place have also increased very seriously. Therefore, if we had completed the Development Path Corridor today, such costs would have decreased. “In addition, the Development Road will not only provide a cost-effective and short-term transportation corridor, but will also complement the existing transportation corridors. It will also connect the east-west corridors to the north-south corridors. Thus, the Development Road Project, which will directly contribute to the global trade system, will also contribute to the development and progress of all participating countries. When considered from all these perspectives, it is obvious that the Council of Ministers we have established has undertaken an extremely important mission,” he said. – ISTANBUL