Agreement outlines the collaborative partnership to expand joint global market opportunities
AD Ports Group and China Machinery Engineering Group Corporation (CMEC Group), a state-owned key enterprise directly managed by the Central Government of China, have recently signed a Memorandum of Understanding (MoU) to establish a strategic cooperative relationship.
The MoU details the ways in which the two companies will explore potential opportunities globally, but particularly in the Middle East, Central Asia, South Asia, South-East Asia, East Asia, Africa, South America, and Europe, according to a press release.
Under the agreement, the two parties will cooperate within various fields and sectors, including global industry and infrastructure development, financing, building, operation, and maintenance, global economic cities and free zones development, and global logistics.
Complementary advantages
The MoU will be valid for a period of three years and will focus on achieving complementary advantages, sharing resources, establishing a long-term strategic cooperative relationship of mutual benefit and trust, to jointly expand the global market.
“Our Group is committed to achieving the complementary advantages of both parties and this MoU demonstrates our strategic objectives to establishing global partnerships with leading companies, such as CMEC GROUP,” commented Captain Mohamed Juma Al Shamisi, CEO and Managing Director, AD Ports Group.
“This MoU signifies our commitment to combining both parties’ respective advantages and characteristics, to expand development space, and create a better future together,” remarked Wang Bo, Chairman of the Board of Directors, China Machinery Engineering Group Corporation.
AD Ports Group and CMEC GROUP’s collaboration marks a significant opportunity for the global industry and infrastructure development to capitalise on the predicted further growth of China-UAE trade.
