Thurs. PM TNT News Articles 11-25-21



According to an economic report, the possible Turkish-Iraqi-Iranian bloc is a step towards strengthening the economies of the region

Attention is drawn to a possible joint step between Turkey, Iraq and Iran, represented in the establishment of a joint economic bloc, which may be the necessary step to strengthen the economies of not only the three countries, but also to support the region.

The economic report published here today stated that if practical steps are taken to activate this bloc, there are several benefits that can accrue to everyone, provided that there is better political and security stability in Iraq, where Turkey and Iran can supply Iraq with the establishment of joint industries that improve the structure of Iraq’s GDP. .

The report added that in the event of the development of forms of integration between the countries of the bloc, Iraq would be in a better position in terms of diversifying its economy, so that oil would be one of the resources, and the agricultural sector could be developed there after reaching shares of water that Turkey would pay to Iraq.

Iraq will not be the only beneficiary, but Turkey will have a better opportunity to expand its regional relations, which will increase its regional position in a geopolitical framework, and its inter-trade with both Iran and Iraq will be in a better position.

What can achieve a better outcome for the bloc will be the lifting of sanctions on Iran, which will enable Turkey to contribute significantly to the development of its infrastructure, which is reflected well on the Turkish companies specialized in this field, from the construction of roads and power stations, as well as the establishment of many One of the industries that can come within the framework of the partnership between the two countries.

As for the developments that will occur in the economic relations of the countries when the bloc is formed, the report saw that there are a number of developments that can improve relations between the countries of the bloc through the economic gate, even if there are some obstacles, such as that Iran is not a member of the World Trade Organization, and Turkey is It adheres to certain customs and trade agreements with the European Union.

The three countries may be eligible to bypass the free trade zone stage in the short term, and move to the customs union stage, which will take a period to rehabilitate Iran and Iraq to keep pace with their systems with Turkey, which is more integrated into the global economy.

As for the repercussions of the possible bloc on neighboring countries and the region, it provokes other gatherings in the region, especially the Gulf Cooperation Council, whose position has been shaken significantly since the crisis of the blockade of Qatar in June 2017.

The expected bloc can also be considered as facing the trend of normalization with Israel, to which 4 Arab countries joined in 2020, namely, the UAE, Bahrain, Sudan and Morocco.

And the bloc can be employed in a positive framework, so that it accommodates the Arab countries wishing to join it, and in this case it will be considered a fulfillment of the desire of many experts for the need to achieve integration between the Arab countries, Iran and Turkey, which will improve the region’s situation in the areas of confronting other regional blocs at the world level.

It is also necessary to make real efforts to develop the road transport network between the countries of the bloc, which leads to the ease of the flow of goods, as well as shortening the time related to shipping and the rest of the procedures, as well as facilitating the procedures for inter-investment for those countries. link

Source: Dinar Recaps


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