- Middle East
- DP World, Dubai Customs and Israel's DoverTower assess trade links between UAE and Israel
DP World, Dubai Customs And Israel's DoverTower Assess Trade Links Between UAE And Israel
Muhammad Irfan 7 days ago Wed 16th September 2020 | 02:30 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 16th Sep, 2020) DP World, the leading global provider of smart end-to-end logistics solutions, and Dubai Customs will be exploring opportunities to develop trade links between Israel and the UAE, following the signing of a series of memorandums of understanding.
Part of the engagement between the two countries to strengthen peace, dialogue and stability and promote sustainable development, 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 MoUs cover three broad 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; and Drydocks World will explore business opportunities with Israel Shipyards on a joint venture for developing, manufacturing and marketing ISL products.
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 of Israel Shipyard port in Haifa and partner of Eilat Port said, "This is a great honour to work and collaborate with Sultan bin Sulayem. 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.