Iraq Eyes Mega Project to Channel 20% of Asia-Europe Trade

22/09/2025 01:29 AST

Iraq aims to channel a fifth of Asia-to-Europe trade through its southern Grand Faw port and the Development Road project, Prime Minister Mohammed Shia al-Sudani said on Saturday, unveiling a long-term economic strategy dubbed "Iraq Vision 2050."

Speaking at the launch ceremony, Sudani said the Development Road would create 1.5 million jobs and help secure 70% of the country's food, water and energy needs through sustainable green initiatives.

He said the planning ministry had signed an advisory contract with US-based KBR, a major infrastructure consultancy, to guide implementation of the project's phases.

Sudani described the 2050 vision as a "national roadmap" involving state institutions, the private sector, academia, civil society and youth, adding it was also a signal to the world that Iraq was "rising again to reclaim its role as a productive and stabilizing force for peace and prosperity."

The initiative aims to overhaul state institutions, plug structural gaps, anticipate risks and reduce vulnerability to crises, he said, noting that international organizations "cannot always meet Iraq's protection and response needs."

The plan includes reform pathways, an execution framework and a future development map to be submitted to cabinet for approval. Iraq, Sudani said, cannot rely solely on fossil fuels as the backbone of its economy, especially as technology and artificial intelligence reshape the world.

"In the coming decades, we look forward to freeing Iraq from oil dependency, building a diversified and stable economy," he said, adding that Baghdad's domestic and foreign policy achievements had won both local and international recognition.

Asharq Al Awsat