2024-04-04T08:31:10+00:00
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/ Abu Dhabi Ports Group signed a preliminary agreement with the General Company for Iraqi Ports, under which a joint project will be established to develop the Grand Al-Faw Port, and any future expansion of it, in addition to the economic zone adjacent to the port.
The preliminary agreement aims to explore potential cooperation opportunities in the field of investment, management and operation in ports, economic zones and other infrastructure in Iraq.
The preliminary agreement was signed in the presence of Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Razzaq Al Saadawi, Iraqi Minister of Transport, and was signed by Mohammed Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group, and Farhan Al Fartousi, Director General of the General Company for Ports in Iraq.
The signing of the agreement comes as an extension of the memorandum of understanding concluded by the two parties in September 2021 and its annex concluded in August 2023 to intensify and activate joint cooperation between them. It is expected that the project will employ the expertise of both parties to attract global operators, enhance international trade relations, and enhance commercial sea lanes, thus contributing In driving the growth of the Iraqi economy.
Razzaq Al-Saadawi said that the Al-Faw Grand Port and Economic Zone project receives special attention from the Iraqi government, which is striving to complete it according to the highest specifications, in cooperation with our brothers in the UAE, represented by the Abu Dhabi Ports Group. In turn, we have provided all the necessary solutions to make this project a success. Which will have a pivotal role in supporting the economy of Iraq and the countries of the region, and will contribute to strengthening the maritime transport sector and freight shipping between Asia and Europe, especially since it is linked to the Development Road Project, one of the most prominent economic and logistical projects of the Republic of Iraq.
For his part, Thani bin Ahmed Al Zeyoudi said that the agreement signed between Abu Dhabi Ports Group and the General Company for Iraqi Ports reflects the directives of the UAE leadership, which aims to consolidate economic relations and stimulate the growth of trade flows between the two brotherly countries, in conjunction with other similar agreements aimed at creating new platforms for partnership and joint growth. For the business communities and the private sector on both sides, by exploring cooperation opportunities that achieve common interests in priority sectors, according to the Emirates News Agency