UAE Business: AD Ports Group and Iraq’s IDB sign port development deal – Gulf Digital News

UAE Business: AD Ports Group and Iraq’s IDB sign port development deal – Gulf Digital News

AD Ports Group, a leading facilitator of global trade, logistics, and industry, and International Development Bank (IDB) have signed a Memorandum of Understanding to review opportunities for ports and logistics projects. This is intended to enhance trade flows between the UAE and Iraq.

The agreement was signed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Dr Ziad Khalaf, Chairman, International Development Bank.

Being the only Iraqi financial institute licensed from the Central Bank of the UAE to provide wholesale corporate banking service, IDB aims to provide its services to corporate clients and support a range of landmark infrastructure projects in both countries.

Milestone deals

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 General Company for Ports of Iraq (GCPI) to promote increased cooperation.

Captain Al Shamisi 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