{"id":70320,"date":"2023-04-26T00:00:00","date_gmt":"2023-04-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/26\/today-iraq-to-inaugurate-rail-link-to-turkey-in-2024-mena-countries-fare-well-in-world-bank-logistics-index\/"},"modified":"2023-04-26T00:00:00","modified_gmt":"2023-04-26T00:00:00","slug":"today-iraq-to-inaugurate-rail-link-to-turkey-in-2024-mena-countries-fare-well-in-world-bank-logistics-index","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/26\/today-iraq-to-inaugurate-rail-link-to-turkey-in-2024-mena-countries-fare-well-in-world-bank-logistics-index\/","title":{"rendered":"TODAY: Iraq to inaugurate rail link to Turkey in 2024 + MENA countries fare well in World Bank Logistics Index"},"content":{"rendered":"

Good morning, friends.<\/span> We hope you all had a wonderful, restful Eid break and are easing<\/span> back into the usual flow of the workweek with the caffeinated beverage of your choice. We\u2019ve got everything you may have missed on the logistics front from the past week in the MENA region and beyond \u2014 let\u2019s dive in. <\/span><\/p>\n

We\u2019re sorry to be a few minutes late this morning<\/span> \u2014 we ran into some tech difficulties that have now been fixed.<\/span><\/p>\n

THE BIG LOGISTICS STORY-<\/span> Iraq plans to inaugurate its <\/span>Development Road Project linking its Southern Faw Port to <\/span>Turkey by rail at the start of 2024, while <\/span>Kuwait is gearing up to issue an international tender for the building and operation of a <\/span>cargo village near Kuwait International Airport.<\/span><\/p>\n

HAPPENING TODAY-<\/span><\/p>\n

A three-day ceasefire agreed between Sudan\u2019s opposing groups is \u201cpartially holding\u201d<\/span> but<\/span> the fighting has not entirely stopped, <\/span>Reuters<\/a><\/span> reports. The Sudanese Armed Forces and the Rapid Support Forces (RSF) had earlier agreed to a three-day ceasefire mediated by the US, the RSF <\/span>said<\/a><\/span>. At least 427 people have been killed in the fighting lives, and tens of thousands have <\/span>fled <\/span>to neighboring countries, including Egypt, Chad, and South Sudan, according to <\/span>Reuters<\/a><\/span>.<\/span><\/p>\n

Iran, Syria to discuss boosting ties in banking, transportation:<\/span> Iran\u2019s Roads and Urban<\/span> Development Minister Mehrdad Bazrpash arrived in Syria yesterday for a two-day visit to discuss trade ties with his Syrian counterpart Humam Al Jazaeri and Syrian private sector representatives,<\/span>Iranian news agency <\/span>Tasnim<\/a><\/span> reports. The talks will include reducing trade tariffs, boosting the Iranian private sector\u2019s role in the reconstruction of Syria\u2019s air transport sector, and the development of an Iran-Iraq-Syria rail link. <\/span><\/p>\n

<\/p>\n

\n

<\/a> <\/span>G7 leaders are calling for the \u201cextension, full implementation, and expansion\u201d of the<\/span>agreement to allow Ukraine to export grain through Black Sea ports<\/span>,<\/span> according to a joint <\/span>communique<\/a><\/span>after a two-day meeting in Miyazaki, Japan. The agreement<\/span> was initially brokered by Turkey and the UN in July of last year and has allowed Ukraine to export 27 mn tonnes of grain to meet global demand despite its ongoing war with Russia. Russia <\/span>has indicated<\/a><\/span> over the past few weeks that it will not allow the arrangement to continue past the 18 May expiry date for the agreement, citing continued restrictions to its own grain and fertilizer exports. <\/span><\/p>\n

<\/a> <\/span>MENA countries fared well in the World Bank\u2019s latest Logistics Performance <\/span>Index: <\/span>The UAE consolidated its position as a global leader in logistics, rising four spots to rank 7th worldwide, according to the World Bank\u2019s <\/span>Logistics Performance Index 2023 (pdf)<\/a><\/span>. The latest result places the UAE as the only country in the MENA region to feature in the world\u2019s top 10 logistical hubs.<\/span><\/p>\n

There were some big movers: <\/span>Saudi Arabia jumped 17 spots to claim 38th place in the index, boosted by improvements in logistical categories such as trade, infrastructure, ship tracking, customs and maritime freight boosted the kingdom\u2019s ranking. <\/span>The last report, which was published in 2018, saw KSA rank 52nd worldwide. Bahrain also saw considerable improvements in the ranking, climbing 15 spots to land at 34th worldwide, while Kuwait rose 12 places to land at 51st. <\/span><\/p>\n

On the downside:<\/span> Oman retained its position from the 2018 ranking at 43rd worldwide, while Qatar experienced a modest decline of four spaces to settle at 34th worldwide, tying it with Bahrain. <\/span><\/p>\n

<\/p>\n

\n

<\/a> <\/span>DATA POINT #1- Jordan\u2019s Queen Alia International Airport recorded 6.2k aircraft<\/span> movements in March<\/span>, rising 21.7% y-o-y, according to a <\/span>press release<\/a><\/span> from <\/span>Airport International Group. Some 5.6k tons of cargo moved through the airport during the month, marking a 3.2% y-o-y increase. <\/span><\/p>\n

DATA POINT #2- Dubai International Airport handled 16.7k flights in March, surpassing <\/span>pre-pandemic levels with a 23.7% y-o-y increase<\/span>, President of Dubai Civil Aviation Authority Ahmed bin Saeed Al Maktoum said in a <\/span>tweet<\/a><\/span>. \u201cThese figures affirm Dubai\u2019s strong role as a global hub for trade and travel, in the face of economic challenges around the world,\u201d Al Maktoum wrote. <\/span><\/p>\n

<\/a> <\/span>DATA POINT #3- Bahrain exports of national origin dropped 20% y-o-y to BHD 1 bn (USD<\/span>2.6 bn) in 1Q 2023, while re-exports rose 17% y-o-y to BHD 186 mn (USD 493 mn)<\/span> during the quarter, <\/span>according to Bahrain's <\/span>Information and eGovernment Authority<\/a><\/span>. The UAE, Saudi Arabia, and Singapore were the leading markets for re-exports, with airplane parts, four wheel drive vehicles, and wristwatches being the top re-exported goods. <\/span><\/p>\n

<\/a> <\/span>DATA POINT #4- ADAFZ leased-out space soared in 2022: <\/span>Abu Dhabi Airports subsidiary<\/span> Abu Dhabi Airports Freezone (ADAFZ) recorded a 256% increase in annual leases for spaces and properties in 2022, Emirati state-owned news agency <\/span>Wam<\/a><\/span> reported. The increase is attributed to ADAFZ signing contracts to lease out a total of 163.6k squared meters at Abu Dhabi International, Al Ain International, and Al Bateen Executive Airports for commercial spaces, land development plots, and administrative facilities. <\/span><\/p>\n

WATCH THIS SPACE- The<\/span>Suez Canal Economic Zone (SCZone) is working on <\/span>finalizing approval procedures for seven new industrial projects<\/span> at the East Port Said Industrial Zone, according to a <\/span>statement<\/a><\/span>. The projects are slated to cover 62k square meters and will include facilities for the production of gum arabic and its derivatives, steel pipes, casting, and concrete, in addition to facilities for storage and warehousing. <\/span><\/p>\n

Turkey is on track to remain the top importer of Russian diesel in the wake of the EU embargo on <\/span>Russian energy exports<\/span>, <\/span>Reuters<\/a><\/span> reports, citing traders and Reinfinitiv data. Turkey has received 0.8 mn tonnes of Russian diesel since the start of April and 1.5 mn tonnes in March, according to the data. The EU placed an embargo on shipments of Russian energy in response to the country\u2019s invasion of Ukraine, which has forced traders to reroute cargoes to Asia, Africa, the Middle East, and ship-to-ship (STS) loadings. Some of the diesel bound for Turkey is slated for STS transfers that will see it re-exported to other countries, according to Reuters. <\/span><\/p>\n

<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

COME TO OUR NEXT ENTERPRISE FORUM- <\/span><\/p>\n

<\/a><\/p>\n

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking <\/span>place on Monday, 15 May.<\/span> The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help Egypt build an export-led economy that makes us a magnet for foreign direct investment (FDI).<\/span><\/p>\n

Why exports & FDI?<\/span> In the wake of successive floats of EGP, exports and FDI have never been more important to our economy \u2014 or our businesses. We\u2019re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what Egypt as a country can do to draw foreign investment and much-needed FX. <\/span>Expect it to be heavy on lessons learned in Egypt and other global growth markets \u2014 and lots of success stories.<\/span>You can learn more on our conference website here<\/a><\/span>.<\/span><\/p>\n

And what better place to discuss moving our goods than Egypt\u2019s original logistics zone \u2014 the Nile. <\/span>That\u2019s why we\u2019re looking forward to holding the event by the river\u2019s vistas <\/span>at the Four Seasons, Nile Plaza. <\/span><\/p>\n

Some of the biggest names in business and finance are on board \u2014 are you?<\/span> The Enterprise Exports and FDI Forum is taking place with the generous support of our friends, including:<\/span><\/p>\n

Banking partners:<\/span> Banque Misr | Al Baraka Bank | Emirates NBD | HSBC <\/span><\/p>\n

Lead partners:<\/span> DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr<\/span><\/p>\n

Event partners: <\/span>Beyti | Concrete | Global Corp | Grant Thornton | Hassan Allam Utilities <\/span><\/p>\n

WANT TO BECOME A COMMERCIAL PARTNER?<\/span> Ping a note to <\/span>Moustafa, our head of commercial, here<\/a><\/span>.<\/span><\/p>\n

HAVEN\u2019T REQUESTED AN INVITE YET?<\/span> If you\u2019re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please <\/span>fill out the form here<\/a><\/span> to signal your interest, letting us know your name, title and where you work.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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We\u2019ve got everything you may have missed on the logistics front from the past week in the MENA region and beyond \u2014 let\u2019s dive […]<\/p>\n","protected":false},"author":1,"featured_media":70321,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[104,17,119,35,25,394,356,32,552,16,685],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-commodities","tag-enterprise-logistics","tag-iran","tag-iraq","tag-logistics","tag-sudan","tag-syria","tag-trade","tag-ukraine","tag-what-were-tracking-today","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"484af08a-d209-4226-a3a2-9059d91756f9","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/4\/832.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: Iraq to inaugurate rail link to Turkey in 2024 + MENA countries fare well in World Bank Logistics Index","related_issue":[70318],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.984626fb-889c-431f-aabc-8be2b7919808.mp3"},"yoast_head":"\nTODAY: Iraq to inaugurate rail link to Turkey in 2024 + MENA countries fare well in World Bank Logistics Index - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/04\/26\/today-iraq-to-inaugurate-rail-link-to-turkey-in-2024-mena-countries-fare-well-in-world-bank-logistics-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: Iraq to inaugurate rail link to Turkey in 2024 + MENA countries fare well in World Bank Logistics Index\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. 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