The agreement was signed by Captain Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group, and Dr.Ziad Khalaf, chairman, the International Development Bank.
As part of its strategy for growth and globalisation, AD Ports Group has signed a number of milestone agreements to explore opportunities for the management and development of ports and logistics assets across Iraq, including a 2021 agreement with the General Company for Ports of Iraq (GCPI) to promote increased cooperation.
Development of ports and logistics assets around the world
Captain Mohamed Juma Al Shamisi, MD and group CEO of AD Ports Group, said: “AD Ports Group continues to expand its international operations, at the direction of our wise leadership, which has seen us provide support and expertise for the development of ports and logistics assets around the world.
“There are significant opportunities for enhancement and modernisation across Iraq’s ports, logistics and economic zones, and, working with IDB, we will review a number of key projects that help drive UAE-Iraq trade.”
Dr. Ziad Khalaf, chairman, International Development Bank, said: “Building connectivity helps strengthen both the national economy and the trade ties between our nations, so we are pleased to enter into this agreement with AD Ports Group, which is a leading enabler of global trade, logistics and transport. The ports and logistics sector plays a vital role in supplying communities across Iraq, and we are optimistic that we can collaborate on projects that make a real and lasting impact.”
Economic twinning
“We aim to strengthen and deepen the bonds of economic and commercial cooperation between the United Arab Emirates and the State of Iraq in order to achieve economic twinning between the two brotherly countries.”