[size=36]Signing a memorandum of understanding between Iraq and the UAE in maritime transport[/size]
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, Abu Dhabi Ports Group signed a memorandum of understanding with the General Company for Ports in Iraq with the aim of developing cooperation and partnership relations in the field of transport in general and maritime transport in particular, and to exchange experiences and best practices that the two parties adopt in their work.
The memorandum was signed in the presence of Suhail Al Mazrouei, Minister of Energy and Infrastructure in the United Arab Emirates; Nasser Hussain Al-Shibli, Minister of Transport, Iraq, by Muhammad Juma Al Shamsi, CEO - Abu Dhabi Ports Group; Farhan Muhaisin Al-Fartousi, Director General of the General Company for Ports in Iraq, during a visit of a high-level Iraqi delegation headed by the Iraqi Minister of Transport to the country.
The memorandum of understanding extends for a period of 12 months, renewable automatically for a similar period, and stipulates that the Abu Dhabi Ports Group will explore investment opportunities and conduct the necessary feasibility studies to implement the terms of the memorandum, especially the study of investment, management and operation in the ports, economic zones and other infrastructure of the General Ports Company in Iraq. In addition to developing infrastructure such as road and railway networks with the aim of linking the Iraqi port of Faw to the neighboring markets in Jordan and Turkey, and financing all feasibility studies related to the memorandum.
Al Mazrouei said: "The signing of the memorandum of understanding comes in the context of the state's keenness and the directives of its wise leadership aimed at strengthening joint work with the brotherly Arab countries, and within a national vision aimed at developing strategic sectors and building work systems that contribute to achieving economic and social development in the country, and sharing the best experiences and expertise. And transferring it to the brothers in the Republic of Iraq in a way that enhances the building of a diversified and sustainable economic structure.
For his part, Nasser Hussein Al-Shibli, the Iraqi Minister of Transport, expressed his "happiness at the launch of this cooperation with Abu Dhabi Ports Group," noting that "this memorandum of understanding constitutes a promising start for cooperation between the two parties that will provide many services and support in the future for investors in both countries, and establishes To build an Arab port system capable of accommodating the global requirements of the sector and keeping pace with the ambitious development visions in the two countries.