AD Ports Consortium (ADX: ADPORTS), a prominent global player in logistics, industry, and trade facilitation, warmly received a distinguished delegation from Iraq led by His Excellency Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transportation. The delegation included prominent figures from business, investment, and development sectors, converging to discuss several critical projects essential for international transportation, logistics services, regional economic cooperation, and other shared interests.
His Excellency Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure of the UAE, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, along with Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Consortium, warmly greeted the Iraqi delegation alongside other high-ranking officials. The bilateral discussions unfolded at Abu Dhabi’s Khalifa Port, addressing collaborative initiatives for strategic projects, notably the Transports Internationaux Routiers (TIR) International Road Transport System and Iraq’s ‘Development Road Project’, aimed at linking the GCC Countries and Europe through Iraq.
Expressing his views, His Excellency Mr. Razzaq Muhaibas Al-Saadawi emphasized, “The UAE stands as one of Iraq’s principal trade allies. Through this meeting, we aim to deepen economic ties between our nations. The Iraqi government consistently endeavors to create substantial investment opportunities within the transport and logistics sector, revitalizing not only Iraq’s economy but also the broader regional landscape. Projects like the ‘Development Road Project’, serving as a pivotal link between Asia and Europe utilizing Iraq’s Al-Faw Port, and the TIR system, are poised to streamline regional transport and cut costs significantly.”
Echoing these sentiments, His Excellency Suhail bin Mohammed Al Mazrouei remarked, “We are honored to host His Excellency Mr. Razzaq Al-Saadawi and the esteemed Iraqi delegation in the UAE. Our engagements with Iraqi counterparts consistently reflect a shared commitment to advancing bilateral relations. Today’s discussions at Khalifa Port mark a significant stride towards fortifying the regional and global standings of both the UAE and Iraq. Through this collaboration, we anticipate elevating transportation and logistics sectors to unprecedented levels of competitiveness and appeal, fostering knowledge exchange, capabilities enhancement, and best practices aimed at mutual progress and prosperity.”
Further underscoring the importance of bilateral ties, His Excellency Dr. Thani bin Ahmed Al Zeyoudi stated, “The visionary leadership of the UAE places paramount importance on strengthening collaboration with our Iraqi partners, with a view to enhancing economic ties across mutually beneficial domains. Today’s meeting holds immense significance as we explore joint investment prospects and mechanisms to boost trade volumes, driving economic growth, prosperity, and advancement for the peoples of both nations.”
The meeting culminated with both parties reiterating the significance of sustained dialogue between relevant authorities and sectors to expand their partnership, aligning with the common interests of both countries and their citizens.
In 2021, AD Ports Consortium entered into a Memorandum of Understanding (MoU) with the General Company for Ports of Iraq (GCPI) to foster deeper cooperation within transportation and maritime domains. This initiative encompasses conducting feasibility studies on managing and operating GCPI’s ports, economic zones, and infrastructure, while also exploring potential investment avenues.
Iraq stands as a key trading partner for the UAE, with bilateral trade volumes reaching AED 104 billion in 2023, marking a 13.1% increase compared to 2022.