The two sides signed a series of agreements to develop trade infrastructure
Group Chairman and Chief Executive of DP World, Sultan Ahmed Bin Sulayem, recently signed preliminary agreements with DoverTower, a company owned by Shlomi Fogel, the Co-owner of Israel Shipyards and Port of Eilat.
DP World, one of the world’s biggest port operators, and Dubai Customs will explore opportunities to develop trade links between the UAE and Israel as the countries normalize relations.
The two sides have already signed a series of agreements to discuss the possibilities of developing trade infrastructure, the company said on Wednesday.
Bin Sulayem signed the preliminary agreements with DoverTower, a company owned by Fogel, The agreements 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.
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 port, the biggest in the Middle East.
Dubai Customs will facilitate trade between private entities in the two countries. Drydocks World will explore business opportunities with Israel shipyards, the company said.
“The MoUs will contribute to the efforts to tap economic and trade cooperation opportunities, and facilitate development-oriented linkages between the two countries,” asserted Bin Sulayem.
