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DP World And Dubai Customs To Assess Opportunities To Develop Trade Links Between UAE And Israel

DP World and Dubai Customs to assess opportunities to develop trade links between UAE and Israel

Source: DP World
Haifa, Israel (PortSEurope) September 16, 2020 – DP World has issued a news release regarding the newly-signed cooperation agreement with Israel’s DoverTower Group. A number of Memorandums of Understanding (MoUs) have been signed to explore the development of ports, free zones and trade infrastructure. A possible joint venture that will participate in the tender for the privatisation of Haifa port could be part of the
cooperation. DP World and Dubai Customs will be exploring opportunities to develop trade links between Israel and the United Arab Emirates (UAE). This follows on from the news yesterday that Israeli Prime Minister Benjamin Netanyahu and the foreign ministers of the UAE and Bahrain signed agreements formalizing diplomatic relations between Israel and two Gulf Arab nations. The news release claims that part of the agreement between the two countries is to strengthen peace, dialogue and stability and promote sustainable development. it adds that “the MoUs create a framework for the companies to work together in assessing opportunities to develop infrastructure for trade between Israel and the UAE, as well as within Israel and the region”. The agreements cover three areas of cooperation: DP World will assess the development of Israeli ports and free zones and the potential establishment of a direct shipping route between Eilat and Jebel Ali.Dubai Customs will promote and facilitate trade between private entities in the two countries through customs best practice and seamless, innovative processes.Drydocks World will explore business opportunities with Israel Shipyards on a joint venture for developing, manufacturing and marketing ISL products. HE Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, said: “The MoUs will contribute to the efforts to tap economic and trade cooperation opportunities, and facilitate development-oriented linkages between the two countries. DP World’s mission is to enable global trade – our work to build trade routes between the UAE, Israel and beyond will help our customers to do business in the region more easily and efficiently.” Shlomi Fogel, Chairman and owner of DoverTower Group, shareholder in Israel Shipyard port in Haifa and partner of Eilat Port said: “This is a great honour to work and collaborate with HE Sultan bin Sulayem, Chairman and CEO of DP World. I’m proud of our mutual friendship and vision to create a strategic partnership that will positively impact the global trade and economy while strengthening the commercial relationship between the state of Israel and the United Arab Emirates”. “I believe that this agreement is just the beginning of mutual and long collaboration and more agreements will follow between DP World and DoverTower across different industries. “I am also happy to announce that DP World and Israel Shipyards will collaborate to establish a joint venture that will participate in the tender for privatisation of the Port of Haifa.” Copyright (C) PortSEurope. All Rights Reserved. 2020.

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