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DP World Forecasts Increasing Israel-UAE Trade

DP World forecasts increasing Israel-UAE trade

Source: DP World
Dubai, UAE (PortSEurope) December 10, 2020 – Speaking at the inaugural UAE-Israel Future Digital Technology Summit, part of this week’s Gitex technology conference in Dubai, Sultan Ahmed bin Sulayem, chairman of DP World, said that initial bilateral trade between Israel and the United Arab Emirates could be worth $5 billion. In September this year, Israeli Prime Minister Benjamin Netanyahu and the foreign ministers of the
United Arab Emirates and Bahrain signed agreements formalizing diplomatic relations between Israel and two Gulf Arab nations. This has led to business agreements linked to improving commercial relations between the two countries. In October, DP World and Israel Shipyards Industries submitted a joint bid to take over Haifa port which is set to be privatised. If successful, the port could become more competitive and become a modern international logistics hub, linking Europe and Asia. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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