To establish stronger ties with Israel; Dubai state owned D. P. World, a global company providing end to end smart logistics solutions, and Dubai Customs is in a continuous quest for bilateral business opportunities between the two countries and already signed a series of MOUs in this regard.
DP World Chairman and CEO, Sultan Ahmed Bin Sulayem has already signed the memorandum of understanding with Dover Tower owner Shlomi Fogel, an Israeli businessman, for partnering on joint development of Israel port Haifa in the Mediterranean and also opening a direct shipping line between UAE and Israel port Eilat in the Red Sea. The Newly planned trade route helps develop Dubai Multi Commodities Center (DMCC) and DMCC company formation.
Dover Tower is an Israeli company engaged in developing ports and shipyards and also owns Israel shipyards and port of Eilat. DP World, UAE, operates a number of ports in varied locations from Hong Kong to Bunes Aires and is keen on exploring joint investment opportunities in areas of infrastructural development of two countries. The engagement also aims for sustainable peace and stability in the middle east.
Three main areas of cooperation between the two countries are covered under MOUs.
- Firstly DP World will engage in the development of Israeli ports and free zones and assess the potential for establishing a shipping line from Eilat to Jebel Ali;
- Second, Dubai customs will assist in promoting private trade and businesses by adhering to customs best practices and continuous innovative processes; and
- Third, the Drydocks World, Dubai with its largest ship repair facility in the middle east will explore business opportunities with Israeli shipyards and develop, manufacture and market International Shipping and Logistics (ISL) products in partnership with Israel.
As per Chairman and CEO of DP World, Sultan Ahmed bin Sulayem the MOUs would help in tapping trade and economic cooperation opportunities and promote development focussed ties between UAE and Israel. He also stated that the DP world’s mission is global trade between UAE, Israel, and other countries and invited business enterprises from other countries to come and participate in Dubai company incorporation.
Shlomi Fogel, Chairman, and owner of the Dover Tower group, a shareholder of Haifa shipyard and also the owner of Eilat port, described his company’s collaboration with DP world as a matter of great honor. He also took pride in the mutual vision and friendship of the two companies and expressed his desire for a strategic partnership that would impact global trade and economy and strengthen the business relationship between Israel and UAE. He described this agreement as a beginning and envisioned many more agreements between the DP world and Dover Towers across different industries.
Chairman and CEO of Dover Tower also officially announced the partnership agreement between Israel shipyard and DP world to jointly participate in the tender for the privatization of Haifa port.
Jebel Ali, the only port in the Arabian gulf connected to the Far East, has the ability to accommodate mega vessels and recently decided to dock HMM GDANSK, one of the world’s largest cargo vessels, on her return Europe Far East voyage. HMM GDANSK is 400 meters long with a capacity of 24,000 TEUs, Twenty feet Equivalent container Units.
Jebel Ali is one of the few ports in the gulf which can handle 10 mega vessels at one time. It has a handling capacity of 22.4 million TEUs and is considered as the region’s premier gateway port on the Asia- Europe sea trade route. As per Mohammed Al Muallem, CEO and MD of DP world UAE region, the visit of HMM GDANSK bears the real testimony of Jebel Ali’s real strength and capacity.
Jebel Ali is one of the most technically developed ports employing robotics, IoT, Big Data, Virtual reality and cybersecurity, and complete automation.
Collaborative efforts between DP world and Dover Port, the two world-class companies, will help expand businesses between UAE and Israel and other middle east countries.