Last modified on Fri 5 Feb 2021 00.31 EST
Five years ago a young, unknown MP wrote a pamphlet for a Thatcherite thinktank extolling the benefits of free ports. Now that Rishi Sunak is chancellor, his dream for Britain is â for good or ill â fast becoming reality.
This week, alliances of port owners, businesses and local authorities must submit their bids to establish free ports, competing to set up zones exempt from normal tax and regulation.
Proponents say free ports can attract investment to areas that have been left woefully short, bringing jobs and prosperity to deprived regions as part of the âlevelling upâ agenda, helping prioritise greener industry, and breathing new life into, say, the former Redcar steelworks site, or the Grimsby docks.
Emirates News Agency - Trade between Dubai and Israel reaches AED1 billion in five months wam.ae - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wam.ae Daily Mail and Mail on Sunday newspapers.
Middle-East Arab News and Opinion - Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities
Dubai-Israel trade surges to $272m in five months
DUBAI, January 30, 2021 Dubai has announced that its trade with Israel has reached AED1 billion registering 6.2 billion tonne in trade volume, according to Dubai Customs statistics. Of this, imports were valued at AED325 million (718 tonnes), exports at AED607million (5.4k tonnes), and transit trade at AED98.7million (52.4 tonnes). In the light of this exceptional growth, Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Dubai s Ports, Customs & Free Zone Corporation believes opening new markets and stimulating mutual trade between Dubai and Israel will encourage companies to increase production, leading to greater economic growth and more job creation.