Abu Dhabi, UAE – AD Ports Group and International Development Bank (IDB) have signed a deal to review opportunities for ports and logistics projects that could enhance trade flows between the UAE and Iraq.
IDB aims to provide its services to corporate clients and support a range of key infrastructure projects in both countries, AD Ports said.
As part of its strategy for growth and globalization, AD Ports Group has signed several agreements to explore opportunities for the management and development of ports and logistics assets across Iraq,
This includes a 2021 agreement with General Company for Ports of Iraq (GCPI) to promote increased cooperation.
The UAE and Iraq have continued to strengthen trade ties in 2022, with several trade agreements and development deals.
The World Bank estimates that Iraq’s economy will expand 6.3 percent over the next two years.
The agreement was signed by Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Ziad Khalaf, Chairman, International Development Bank.