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Abu Dhabi Ports signs an agreement with the Iraqi Bank (IDB) with the aim of improving trade movement between the two countries
Shafaq News/ Abu Dhabi Ports Group signed a preliminary agreement with the International Development Bank in Iraq ("IDB") to explore cooperation opportunities available in port projects and logistics services with the aim of improving trade movement between the United Arab Emirates and Iraq.
The agreement was signed by: Mohammed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group; and Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, according to a statement issued by the group today, Wednesday.
Al Shamsi said: "We have before us a broad horizon of opportunities and a great scope for improving and modernizing ports, logistics services and economic zones in Iraq. There is no doubt that through our cooperation with the International Development Bank, we will explore many available projects that certainly contribute to enhancing trade movement between the United Arab Emirates and Iraq." .
For his part, Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, said: "Strengthening the ties between our two brotherly countries contributes to supporting the national economy and improving intra-trade. Therefore, we are pleased to conclude this agreement with the Abu Dhabi Ports Group, a world leader in the fields of trade, logistics and transport."
"The ports and logistics sectors play a vital role in providing supplies to the Iraqi community across the country, and we are confident in our ability to collaborate on projects with tangible and sustainable impact in this context," he added.
Khalaf added, "Our goal is to strengthen and deepen the bonds of economic and trade cooperation between the United Arab Emirates and the State of Iraq, in order to achieve economic twinning between the two brotherly countries through the support of businessmen and Emirati and Iraqi companies."
It is noteworthy that the United Arab Emirates and Iraq continued to strengthen their trade relations during 2022 through several trade and development agreements.
The World Bank estimates that the Iraqi economy will record an estimated growth rate of 6.3% over the next two years.
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The agreement was signed by: Mohammed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group; and Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, according to a statement issued by the group today, Wednesday.
Al Shamsi said: "We have before us a broad horizon of opportunities and a great scope for improving and modernizing ports, logistics services and economic zones in Iraq. There is no doubt that through our cooperation with the International Development Bank, we will explore many available projects that certainly contribute to enhancing trade movement between the United Arab Emirates and Iraq." .
For his part, Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, said: "Strengthening the ties between our two brotherly countries contributes to supporting the national economy and improving intra-trade. Therefore, we are pleased to conclude this agreement with the Abu Dhabi Ports Group, a world leader in the fields of trade, logistics and transport."
"The ports and logistics sectors play a vital role in providing supplies to the Iraqi community across the country, and we are confident in our ability to collaborate on projects with tangible and sustainable impact in this context," he added.
Khalaf added, "Our goal is to strengthen and deepen the bonds of economic and trade cooperation between the United Arab Emirates and the State of Iraq, in order to achieve economic twinning between the two brotherly countries through the support of businessmen and Emirati and Iraqi companies."
It is noteworthy that the United Arab Emirates and Iraq continued to strengthen their trade relations during 2022 through several trade and development agreements.
The World Bank estimates that the Iraqi economy will record an estimated growth rate of 6.3% over the next two years.
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