Turkey's President Recep Tayyip Erdogan has expressed opposition to the plans proposed by India, Saudi Arabia, and the EU to create a trade corridor that would connect South Asia to Europe, bypassing Turkey.
Erdogan argued that there can be no corridor without Turkey as it is an essential production and trade base, and the most convenient route for traffic from east to west must pass through the country. The proposed transport link, known as the India-Middle East-Europe Economic Corridor (IMEC), aims to establish railway lines and shipping routes passing through the UAE, Saudi Arabia, Jordan, Israel, Greece, and Europe. Erdogan acknowledged that other countries are also seeking to expand their influence through trade corridors and highlighted Turkey's support for the Iraq Development Road Project, which aims to connect the Gulf to Turkey and Europe via a railway and highway.
Erdogan quoted the UAE President's suggestion that negotiations be completed within 60 days, and the foundations for the project be laid immediately. The development road project includes a dual-track railway, a modern highway, logistic hubs, industrial complexes, and potentially oil and gas pipelines. The estimated investment for the project is around $17bn, with projected annual returns of $4bn and the creation of a minimum of 100,000 jobs.
