Page 666 - MOE ENGLISH PR - APRIL 2024
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The agreement builds upon a Memorandum of Understanding signed in
September 2021, followed by an addendum in August 2023, highlighting the
ongoing commitment to strengthen cooperation between the UAE and Iraq.
Agreement to help boost UAE-Iraq ties
Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade,
said: “This agreement strengthens economic ties and increases bilateral trade
volumes between the UAE and Iraq. We aim to establish mutual growth
platforms for businesses through collaboration in key industries.”
This venture is expected to attract international investment, foster global trade
ties, and establish new commercial sea routes, ultimately contributing to Iraq’s
economic growth.
The deal will establish a joint venture to develop and manage Al-Faw Grand
Port and its economic zone, with the potential for future expansion.
It will explore investment opportunities and conduct feasibility studies for
ports, economic zones, and related infrastructure across Iraq.
https://gulfbusiness.com/ad-ports-group-iraq-to-develop-al-faw-zone/
