CNBCArabia
  • last year
Transcript
00:00 The Turkish Presidency opened the doors of the economy to Baghdad, which was previously closed by political and security disputes.
00:07 26 economic agreements were drawn up, the most important of which is the management of the water supply and granting Iraq suitable facilities,
00:15 away from the current equation, which is 150 cubic meters per second, to manage the water supply jointly, according to the principle of equality and good intentions.
00:24 This agreement is long-term, the expected period, according to experts, is about 10 years to find solutions.
00:32 After this claim, it is possible that Iraq will control the water supplies.
00:37 In fact, we do not have a problem with our water, we do not have a shortage of water, we have a problem in managing the water supplies.
00:45 Baghdad's dream is a dry commercial channel, or what is known as the development road, extending from the port of El Faw in southern Iraq to the Turkish border, 1,200 km long.
00:55 The light is seen in the first steps and by the Emirati and Qatari participation, which reduces the estimated cost of construction by 17 billion dollars and motivates regional companies to start a new business.
01:06 This road is equivalent to the Suez Canal, which has a very large positive economic return for the Iraqi people,
01:17 in terms of reducing unemployment, creating new job opportunities, and obtaining half of the oil imports in Iraq.
01:29 Turkey is very concerned about it, and the European countries are also very concerned about it, and the Gulf countries as well.
01:35 The strategic framework agreement between the two countries is to form an economic committee to increase the trade volume to double what it is today, at 15 billion dollars annually,
01:45 with a Turkish desire to reach 40 billion dollars according to a new, expanded trade initiative.
01:50 We hope, or what will happen, that it will increase Turkish investments in Iraq,
01:56 and that the balance will be rebalanced by the return of the Turkish capital to Iraq, to activate a number of factories, activities, services, including agriculture, banking, and hotels.
02:13 In terms of numbers, the Turkish step will contribute 4 billion dollars as a primary return to the development road project,
02:19 with 100,000 jobs for the Iraqis, and the restoration of the Dijda and Al-Furat rivers will improve the agricultural sector by 40%,
02:28 and will increase its contribution to the local income by more than 9%.
02:32 More than 30 joint agreements for security, trade, energy, investment, and water,
02:37 indicate a qualitative shift in the relationship between Baghdad and Ankara.
02:40 It is not limited to the economic activity of the two countries, but also takes regional dimensions,
02:44 and may lead to a new economic alliance in the future.
02:47 [speaking in foreign language]