Page 664 - MOE ENGLISH PR - APRIL 2024

4/22/24, 3:17 PM AD Ports Group, Iraq's GCPI sign agreement to develop Al Faw Grand Port, Economic Zone
leverage their respective expertise to attract international terminal operators, foster
global trade relations, and develop commercial sea corridors, thereby contributing to
the economic advancement of Iraq.
Driving efficiency and capability

A key focus of the preliminary agreement between AD Ports Group and GCPI is to
provide advanced management and operating models for Al Faw Port and the
economic zone. The agreement also involves studying the mechanism of developing,

financing, managing, operating and maintaining the project. Hence, it aims to enhance
overall efficiency and operational capabilities. The collaboration will also entail in-
depth feasibility studies and exploring investment opportunities in Iraq.

“Al Faw Grand Port and Economic Zone project is of great importance to the Iraqi

government…this project will strengthen maritime transport and freight shipping
between Asia and Europe,” stated Iraq’s minister of transport.
For his part, Dr. Al Zeyoudi said: “The agreement signed today between AD Ports
Group and the General Company for Ports of Iraq is in line with the directives of our

wise leadership towards strengthening economic ties and increasing bilateral trade
volumes between the two countries.”
Read: Qatar’s ports see 4 percent growth in container handling in Q1 2024

Leveraging port’s strategic location
For his part, Al Shamisi explained that GCPI’s collaboration with AD Ports Group
reflects a shared commitment to advancing the development of Iraq’s ports and
economic zones. Both parties will create a joint operational policy which includes

partnerships with key international shipping lines to meet the project’s targets.
Moreover, Iraq’s ports stand out with their strategic location linking commercial lines
between the east and the west. This will further support opportunities for trade,
investment, and economic growth in the country.

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