Sunday 24 October 2021

The MoU signing

AD Ports Group, Iraq’s GCPI sign cooperation MoU

ABU DHABI, September 20, 2021

AD Ports Group, a leading global driver of trade and logistics in the UAE, has signed an agreement with the General Company for Ports of Iraq (GCPI) to promote cooperation between the two organisations within the fields of transportation and maritime.

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

Set for an initial period of 12 months with a clause for automatic renewal, the MoU will see the exchange of expertise and best practices by both organisations. Additionally, 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.

Suhail bin Al Mazrouei said: “Leveraging the lessons learned as part of our nation’s pursuit to develop strategic sectors and build frameworks that contribute to the economic and social development of the UAE, we are transferring this invaluable knowledge to our kin in Iraq in order to support the formulation of a diverse and sustainable economy in Iraq.”

Nasser Hussein Al Shebly said: “It is our privilege to announce the start of this new cooperation with AD Ports Group. The MoU will serve as the starting point for future collaboration that will drive the development of a wide range of services, while also supporting investors across both our proud nations. It also sets the foundation to foster an Arabi ports’ ecosystem that can cater to the increasing global demands of this sector and keep pace with ambitious plans of the governments in Iraq and the UAE.”

Captain Mohamed Juma Al Shamisi, Group CEO, AD Ports Group noted: “The signing of this strategic MoU with the General Company for Ports of Iraq is a vital step in the efforts to enhance our regional and global status within the maritime transportation and logistics industries. We are confident that the cooperation with Iraq will serve as the foundation of a promising future of success and developmental opportunities that will benefit both nations.

“It will also enhance trade and the flow of foreign investments to Iraq and will elevate the quality of maritime transportation and logistics services available in the region.”

Dr Farhan Muhesen Al Fartosi said: “We are pleased to sign this MoU with a leading entity like AD Port Group, a titan with a rich history within the Middle East’s maritime transportation and logistics segment.

“Capitalising on its robust portfolio of service capabilities and world class infrastructure, we fully expect to see our ports and transportation ecosystem in Iraq rise to new heights in the coming years. We look forward to promoting our cooperation with the UAE in order to foster the strategic position of the Arab Gulf region across the global supply chain.” – TradeArabia News Service


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