Page 721 - MOE ENGLISH PR - APRIL 2024

AD Ports Group And Iraq Sign Preliminary

Agreement To Develop Al Faw Grand Port And

Economic Zone

By OneArabia

In a significant move that underscores the growing economic collaboration between the United
Arab Emirates and Iraq, AD Ports Group (ADX: ADPORTS) has announced a preliminary agreement
with the General Company for Ports of Iraq (GCPI). This strategic partnership aims to develop Al-
Faw Grand Port and its economic zone, marking a pivotal step in enhancing the trade and logistics
landscape in the region.

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The agreement, which also covers potential future expansions and investments in other cities
within Iraq, was formalized in the presence of notable figures. These include Razzaq Muhaibas Al-
Saadawi, Iraq’s Minister of Transport, and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for
Foreign Trade. The signatories were Captain Mohamed Juma Al Shamisi, Managing Director & Group
CEO of AD Ports Group, and Dr. Eng. Farhan Muhesen Al Fartosi, Director General of GCPI.

This collaboration follows a Memorandum of Understanding (MoU) signed in September 2021 and
an addendum in August 2023 aimed at bolstering cooperation. The joint venture seeks to leverage

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011-19563.html