World
KRG PM Masrour Barzani (right) and Turkey’s Finance Minister Mehmet Simsek (left) meeting at the World Governments Summit in Dubai on February 12, 2025. Photo: KRG
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ERBIL, Kurdistan Region – Kurdistan Region Prime Minister Masrour Barzani on Wednesday met with Turkey’s Finance Minister Mehmet Simsek to discuss the resumption of Kurdish oil exports and the importance of including the Region in Iraq’s Development Road Project.
Barzani and Simsek also “stressed the importance of expanding relations” between Erbil and Ankara, especially in the fields of economy, investment and trade,” the Kurdistan Regional Government (KRG) stated on Wednesday.
The key meeting, held on the sidelines of the World Governments Summit in Dubai, comes as the Kurdistan Region is bracing itself to resume oil exports, after the Iraqi parliament on February 2 approved an amendment to the federal budget law, increasing the compensation for international oil companies (IOCs) operating in the Region. The move is seen as crucial for restarting oil exports through the Iraq-Turkey pipeline.
Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023, after a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had violated a 1973 pipeline agreement by allowing Erbil to export oil independently in 2014.
On the Development Road Project - also known as the Dry Canal Project - Barzani stated that the Kurdistan Region “must be fully integrated into regional trade routes to drive economic growth and strengthen connectivity across the region.”
The Development Road Project is a multi-billion dollar transit project that will link the Persian Gulf to Europe through Iraq’s Al-Faw Port, continuing to the Turkish border at Faysh Khabur southwest of the Kurdistan Region. The project aims to enhance Iraq’s geopolitical position, boost the economy, and create thousands of jobs.
However, the project bypasses the Kurdistan Region - something Kurdish officials have repeatedly criticized. The KRG’s minister of housing and reconstruction in late January censured Iraq for excluding the Region from the key route. Dana Abdulkarim added that Erbil has yet to receive a favorable response from Baghdad regarding its request for inclusion.
Barzani and Simsek also “stressed the importance of expanding relations” between Erbil and Ankara, especially in the fields of economy, investment and trade,” the Kurdistan Regional Government (KRG) stated on Wednesday.
The key meeting, held on the sidelines of the World Governments Summit in Dubai, comes as the Kurdistan Region is bracing itself to resume oil exports, after the Iraqi parliament on February 2 approved an amendment to the federal budget law, increasing the compensation for international oil companies (IOCs) operating in the Region. The move is seen as crucial for restarting oil exports through the Iraq-Turkey pipeline.
Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023, after a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had violated a 1973 pipeline agreement by allowing Erbil to export oil independently in 2014.
On the Development Road Project - also known as the Dry Canal Project - Barzani stated that the Kurdistan Region “must be fully integrated into regional trade routes to drive economic growth and strengthen connectivity across the region.”
The Development Road Project is a multi-billion dollar transit project that will link the Persian Gulf to Europe through Iraq’s Al-Faw Port, continuing to the Turkish border at Faysh Khabur southwest of the Kurdistan Region. The project aims to enhance Iraq’s geopolitical position, boost the economy, and create thousands of jobs.
However, the project bypasses the Kurdistan Region - something Kurdish officials have repeatedly criticized. The KRG’s minister of housing and reconstruction in late January censured Iraq for excluding the Region from the key route. Dana Abdulkarim added that Erbil has yet to receive a favorable response from Baghdad regarding its request for inclusion.
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