Signing a memorandum of understanding between the General Company for Ports Management of Iraq and A

The Minister of Transport, Razzaq Muhaibas Al-Saadawi, announced on Wednesday the signing of a memorandum of understanding between the General Company for Ports Management of Iraq and the Abu Dhabi Ports Group.

A statement from the ministry, seen by Al-Iqtisad News, said: “Minister of Transport, Razzaq Muhaibas Al-Saadawi, received the Minister of State for Foreign Trade in the United Arab Emirates, Thani bin Ahmed Al-Zeyoudi, to discuss joint work and enhance cooperation in the transport sectors.”

The statement added, "The two sides discussed the possibility of strengthening the economic partnership and exchanging experiences between Iraq and the Emirates in the transportation sectors."

Al-Saadawi said, according to the statement, “Iraq is working to strengthen its economic capabilities through giant projects in the maritime transport and shipping sector,” noting, “The development road project aims to connect the East with the West.”

He explained that it is "one of the most prominent economic and logistical projects in Iraq, which requires appropriate capabilities and competencies."

The statement continued, "The meeting included the signing of a memorandum of understanding between the General Company for Ports Management of Iraq and Abu Dhabi Ports Group, which aims to provide the Iraqi transport sector with the necessary expertise to manage projects with the latest management methods in the world."

The statement pointed out that "the UAE Minister of Foreign Trade stressed that" the visit aims to "strengthen economic relations between the UAE and Iraq, and raise the volume of trade exchange between the two brotherly countries, by exploring cooperation opportunities that achieve common interests."

The statement continued, “Director General of the General Company for Iraqi Ports, Farhan Al-Fartusi, explained that cooperation with the Abu Dhabi Ports Group aims to develop Iraqi ports and economic zones, stressing, “We will work together to formulate a joint operational policy through contracting with major international shipping lines, in order to create opportunities.” New measures to enhance trade and investment and achieve economic growth and prosperity for the country.”

In turn, Captain Mohammed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group, said that “the memorandum of understanding will work to “enhance the scope of our cooperation and our commitment to strengthening trade relations between the two brotherly countries,” explaining that “the memorandum of understanding stipulates To "explore investment opportunities and conduct the necessary feasibility studies, most notably the study of investment, management and operation in ports, economic zones and other infrastructure affiliated with the General Company for Ports in Iraq."