DP World to develop trade links between UAE- Israel

DP World, the global logistics major, and Dubai Customs will be exploring opportunities to develop trade links between Israel and the United Arab Emirates, following the signing of a series of memorandums of understanding (MoUs).

Group Chairman and CEO of DP World, HE Sultan Ahmed bin Sulayem, recently signed MoUs with DoverTower, a company owned by Shlomi Fogel, the co-owner of Israel Shipyards and Port of Eilat.

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.

As per the terms of the MoU: 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.

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