AD Ports Group Welcomes Iraqi Delegation to Discuss Strategic Transport and Logistics Projects

Abu Dhabi, UAE – 07 March 2024: AD Ports Group (ADX: ADPORTS), a leading global facilitator of logistics, industry and trade, today welcomed an esteemed Iraqi delegation headed by His Excellency Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transport, alongside key figures and leaders in business, investment and development sectors. The focus was on a number of projects pivotal to international transport, logistics services, economic cooperation in the region, and other common interest endeavours.

The Iraqi delegation was received by His Excellency Suhail bin Mohammed Al Mazrouei, UAE’s Minister of Energy and Infrastructure, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, among other high-ranking officials. The bilateral meeting took place at Abu Dhabi’s Khalifa Port, and covered initiating partnerships for strategic projects, including the Transports Internationaux Routiers (TIR) International Road Transport System and Iraq’s ‘Development Road Project’, which seeks to connect the GCC Countries and Europe, via Iraq.

His Excellency Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transport, said: “The UAE is one of Iraq’s principal trading partners, and through this meeting we look forward to deepening the economic ties between the two countries. The Iraqi government has always sought to create ambitious investment opportunities within the transport and logistics sector, to revitalise the economy in Iraq and the broader region. This includes projects such as the ‘Development Road Project’, a key link for linking Asia and Europe utilising Iraq’s Al-Faw Port, and the TIR system, expected to streamline regional transport and reduce costs."

His Excellency Suhail bin Mohammed Al Mazrouei, UAE’s Minister of Energy and Infrastructure, said: “We are pleased to host His Excellency Mr. Razzaq Al-Saadawi and the esteemed Iraqi delegation in the UAE. Meetings with our Iraqi counterparts have consistently resulted in a strong desire to advance relations between the two nations. Our meeting today at Khalifa Port represents a progressive step towards strengthening the regional and global position of both the UAE and Iraq. We see this collaboration elevating the transportation and logistics sectors to unparalleled levels of competitiveness and appeal through the exchange of knowledge, capabilities, and best practice, aimed at achieving mutual progress and prosperity for all.”

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, said: “The wise leadership of the UAE devotes great importance to enhanced cooperation with our partners in Iraq, aiming to bolster economic relations between the two countries in the areas of mutual interest. There is no doubt that today’s meeting is of critical importance as we continue to explore joint investment opportunities and systems to increase trade volumes between both countries, stimulating economic growth and achieving prosperity and progress for the people of the UAE and Iraq.”

The meeting concluded with both parties reaffirming the importance of sustained dialogue between the relevant authorities, as well as various sectors, to ensure the expansion of their partnership, in a way that serves the common interests of the two countries and their citizens.

In 2021, AD Ports Group had entered into a Memorandum of Understanding (MoU) with the General Company for Ports of Iraq (GCPI) to foster greater cooperation within the transportation and maritime domains. This includes conducting feasibility studies on the management and operation of GCPI’s ports, economic zones and other infrastructure, while also exploring potential investment opportunities.

Iraq is a key trading partner for the UAE, with bilateral trade volumes reaching AED 104 billion in 2023, recording an increase of 13.1% compared to 2022.