According to a report from Iraq's National Media Centre, the new port at Faw [Fao], when completed, will reduce transport costs between Europe and Asia.
Salah al-Khadir said the project will shorten the distance between Iraq and the other countries of the world, and especially the vessels coming from Asia to Eastern Europe, indicating that it will reduce travel time through the Suez Canal from one month to 14 days.
He said the cost of shipping a container from Japan to Europe through the port of Suez in $1770, while transporting it via Faw costs $1300, resulting in a big saving in costs.
He also pointed out that Faw port will provide many job opportunities.
(Source: National Media Centre)