Economists: the commercial Corridor project with neighboring countries will drive the economy in the country

Posted by on Oct 26, 2013 | Leave a Comment

05-05-2013 12:16 PM

Baghdad (News)/report/bahtik/… Seeking Iraqi Ministry of reconstruction and housing construction road lines and iron train railway linking the capital Baghdad to neighbouring capitals, with a view to promoting commercial exchanges between Iraq and surrounding countries.

The Iraqi Government approached the Governments of neighbouring States on the implementation of the trade corridor project, and expressed their readiness to implement the project, because the common interests of all States in the region.

A number of lawmakers and economists (News Agency) the importance of the creation of this project being one of the strategic projects in which significant economic returns to the country, especially since Iraq has great geographical position linking Asia with Europe, which would facilitate the transfers of goods and trade exchanges.

The World Bank has expressed its readiness to provide financial support for the implementation of the trade corridor project.

Member of the Committee for economy and investment/MP Ibrahim Al-Rikabi, said: the importance of implementing the commercial Corridor project with neighboring countries to promote trade exchanges, and facilitate the transport of goods.

Rikabi said (News Agency): the commercial Corridor project between Iraq and neighboring countries need a lot of money, noting that the Iraqi Government is relying on the law of the infrastructure, it will be able to build a railway linking the capital of Baghdad to the Iraqi border.

Explained: the law also would allow Iraq a road up to the capitals of neighboring countries, which will facilitate the implementation of the trade corridor project between Iraq and surrounding countries.

He added: the commercial corridor is an important economic projects that will boost revenue by facilitating transfers of goods and promote trade exchanges, especially the strategic position that Iraq is a focal point for trade with countries around the world.
Iraq Corridor project is a commercial strategic projects that will provide Iraq with economic and commercial corridors and will make Iraq a focal point between the North and the South.

The Finance Ministry adviser Helal altaian reported: that such a project would cost $ 30 billion and Iraq $ 10 billion insurance Max.
Although the Iraqi budget for 2013 amounting to 118 billion dollars, but observers believe that Iraq will not be able to afford commercial Corridor project alone.

Altaian stressed (News Agency): the need for neighbouring States, referring to the huge economic benefits that would accrue if the Iraq project implementation, with 31 private banks in Iraq, these banks appear unable to contribute to the financing of large-scale projects as Iraq international trade corridor project, some economists assert that the Government’s failed economic plans were a reason for non-inclusion of private banks within their projects.

The Economist called Ismail Radi, the importance of focusing on the creation of such strategic projects because it will move the country’s economy and ensure significant financial returns to the State.

He said content (News Agency): the commercial Corridor project announced by the Ministry of construction and housing is of vital projects which strengthen economic and commercial cooperation of Iraq with neighbouring States.

The project includes the linking Iraq with the surrounding area with expeditious transmission lines which will facilitate the transfer of goods between States, the importance of accelerating its implementation through coordination with neighbouring countries to Iraq.

He added: the Federal Government is required to allocate sufficient funds for the purpose of implementing the project to become the Iraq international trade corridor transit all global goods.

And construction and Housing Minister Mohamed Al-daradji holder discussed with IDB Saudi Iraq trade corridor project with neighboring countries including Saudi Arabia to reach common understandings about the Bank’s contribution in providing financial and technical support to the project above making Iraq an important trade to neighbouring countries and the countries of the world.

The Minister of construction and housing had already announced that this year will be the year of roads because of its great importance in saving lives from accidents that occur annually and that the Ministry has drawn up a plan include the creation of corridors for all secondary roads linking the provinces along roads linking the provinces and Baghdad to be safe for road users
It should be noted that this project will be the first cooperation with neighboring countries to create quick ways and develop trade, economic and tourism

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