Dubai Abu Dhabi Ports Group, the leading global engine for trade and logistics, signed a memorandum of understanding with the General Company for Ports in Iraq with the aim of developing cooperation and partnership relations in the field of transport in general and maritime transport in particular, and to exchange experiences and best practices that the two parties adopt in their work.
The signing of the memorandum was attended by the Ministers of Transport and Energy of the two countries, Suhail bin Mohammed Faraj Faris Al Mazrouei and Nasser Hussein Al-Shibli, while it was signed by Captain Mohamed Juma Al Shamsi, CEO – Abu Dhabi Ports Group; And Dr. Eng. Farhan Muhaisin Al-Fartousi, Director General of the General Company for Ports in Iraq, during a visit of a high-level Iraqi delegation headed by the Minister of Transport to Abu Dhabi.
The memorandum of understanding extends for a period of 12 months, renewable automatically for a similar period, and stipulates that the Abu Dhabi Ports Group will explore investment opportunities and conduct the necessary feasibility studies for the implementation of the terms of the MoU, especially the study of investment, management and operation in ports, economic zones and other infrastructure of the General Ports Company in Iraq. In addition to developing infrastructure such as road and railway networks with the aim of linking the Iraqi port of Faw to neighboring markets in Jordan and Turkey, and financing all feasibility studies related to the memorandum.
Suhail Al Mazrouei said: The signing of the memorandum of understanding comes in the context of the keenness of the state and the directions of its wise leadership aimed at strengthening joint work with the Arab countries, and within a national vision aimed at developing strategic sectors and building work systems that contribute to achieving economic and social development, and sharing the best experiences and expertise and transferring them to the brothers in the Republic of Iraq in a way that enhances the building of a diversified and sustainable economic structure.
For his part, Nasser Hussein Al-Shibli expressed his happiness at the launch of this cooperation with Abu Dhabi Ports Group, pointing out that the memorandum of understanding constitutes a promising start for cooperation between the two parties that will provide many services and support in the future for investors in the two countries, as it lays the foundation for building an Arab port system capable of accommodating the global requirements of the sector and keep pace with the ambitious development visions in the two countries
Source: National Iraqi News Agency