UAE Cooperates with Iraq to Conduct Studies on Investment Opportunities in Ports, Economic Zones

UAE Cooperates with Iraq to Conduct Studies on Investment Opportunities in Ports, Economic Zones

The signing of a memorandum of understanding between Emirati and Iraqi officials on Monday (Asharq Al-Awsat)

AD Ports Group signed a Memorandum of Understanding with the General Company for Ports of Iraq (GCPI) to promote increased cooperation within the fields of maritime transportation.

The MoU was signed in the presence of Minister of Energy and Infrastructure in the UAE Suhail Al Mazrouei, and Minister of Transportation in Iraq Nasser Hussein Al Shebly by Group CEO, AD Ports Group Captain Mohamed Juma Al Shamisi, and Director General of the General Company for Ports of Iraq Dr. Eng. Farhan Muhesen Al Fartosi.

It was signed during the visit of an Iraqi delegation to the UAE.

The MoU is set for an initial period of 12 months with a clause for automatic renewal.

AD Ports Group will conduct feasibility studies on the management and operation of the General Company for Ports of Iraq’s ports and economic zones and other infrastructure, while also exploring potential investment opportunities.

As part of its scope, AD Ports Group will also develop national infrastructure, such as roads and rail networks, which will connect Al Faw Ports in Iraq with markets in Jordan and Turkey, while simultaneously financing the feasibility studies stated in the MoU.

Mazrouei