May 8, 2025.
On 08th May 2025, Signing of Memorandum of Understanding (MOU) between Al Zaman Group for General Trading, Contracting and Shipbuilding LLC & AYDA International Entegre Savunma Ticaret A.S.
This MOU was signed to serve strategic goals for both parties including development programs as requested by the Iraqi Ministry of Defence for all modes including but not limited to Marine, Land and Air for the services to the Republic of Iraq. ASFTA, is one of AYDA shareholder, which is a state owned company working under the body of the Turkish Ministry of National Defence for all modes including but not limited to Naval, Land and Air domains as well as Command/Control/Communication/Computer and Combat System Fields, specialized in the design, manufacturing and related Integrated Logistic Support, where together with YDA, as the other shareholder of the Second Party which is actively engaged in construction and contracting as well as defence and aerospace.
Iraqi Prime Minister H.E Mr. Mohammed Shiaa has visited Ankara, Türkiye on 08th May 2025 and met with The Turkish President H.E Mr. Recep Tayyip Erdoğan for the Iraqi-Turkish High Council for Strategic Cooperation.
Moreover, the visit included the signing of 10 MOU between the governments of Iraq and Türkiye in different sectors, one of which was signed between AZG and AYDA for Defence industries cooperation.
Mr. Ahmed Shaban Chairman of AZG was representing the Iraqi side and Mr. Musa Haybet, Deputy Minister of Turkish National Defence was representing the Turkish side when signing this MOU.
Furthermore, the development road project that will connect Iraq to Europe via Türkiye by railways. Al Zaman Group is very interested in this project since this project is complemented to Al Faw Grand Port and AZG plans to develop the maritime facilities in Iraq in cooperation with IBBC (Iraq Britain Business Council/ Maritime Committee). In addition, AZG has implemented several offshore projects within the maritime industry and have the capability and the experience to participate in this project.
The development road project is gaining high interest from many countries as it will create an alternative shipping route around the world. AZG is looking forward to make cooperation between both countries for this project through the signed MOU with AYDA.
