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March 16, 2021 12 min read Opinions expressed by
You re reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
When the Abraham Accords were brokered between the UAE and Israel last September, it brought forward hope for renewed peace and greater prosperity in the region. While this signals to a future that is yet to unfold, the value inherent in this agreement between Israel and the UAE has already been revealing itself from a trade and business perspective.
Economic experts predict that bilateral trade between Dubai and Israel is expected to reach AED15 billion in the next few years, says Hassan Al Hashemi, Vice President of International Relations, Dubai Chamber of Commerce and Industry. From September 2020 to January 2021, as per Dubai Customs statistics, Dubai’s trade with Israel reached AED1 billion in value and 6.217k tonnes in volume, of which imports were valued at AED325 million (or 718 tonnes), exports
Indonesia signs framework agreement with World Logistics Passport
JAKARTA, 6th March, 2021 (WAM) Indonesia has signed a formal framework agreement with the World Logistics Passport (WLP), a major initiative to increase trading opportunities between emerging markets. Having become the first South-East Asian nation to join the programme following the registration of the Indonesia National Shippers’ Council, the latest agreement marks a major step forward in Indonesia’s implementation of the WLP with the support of government authorities.
The framework agreement was signed by Sultan Ahmed bin Sulayem, Chairman of Dubai s Ports, Customs and Free Zone Corporation (PCFC), and Toto Dirgantoro, Chairman of Indonesia National Shippers’ Council, in the presence of senior government officials in the Indonesian government. The Council previously registered with the WLP as a benefits provider, an important role within the programme as part of which the organisation will offer discounted
DP World, CDPQ sign $1.2 billion deal to build port, park in Indonesia
06 Mar 2021 Sultan Ahmed Bin Sulayem and Dr Alim Markus sign the agreement in the presence of Suhail Al Mazrouei and Luhut Binsar Pandjaitan in Jakarta. WAM DP World, the leading provider of smart supply chain logistics, alongside its partner Caisse de depot et placement du Quebec (CDPQ), a global investment group, signed a long-term agreement with Indonesia’s leading conglomerate Maspion Group to start the construction of an international container port and industrial logistics park in Gresik.
Work on the projects is expected to begin in the third quarter of 2021, with a total investment of up to $1.2 billion, enhancing East Java’s position as a key trade gateway for Indonesia.
The Dubai tycoon with ambitions for Haifa Port
DP World chairman and CEO Sultan Ahmed bin Sulayem sees Israel becoming a world-class logistics center, and his vision doesn t stop there.
For port and logistics giant DP World of Dubai, its bid to acquire the Haifa Port Company is just the beginning in a series of possible projects in Israel, says group chairman Sultan Ahmed bin Sulayem in an interview with Globes . Speaking from his home in Dubai, bin Sulayem reveals that his group may be offering Israel the possibility of testing Hyperloop One, the super-fast transportation system it is developing together with Richard Branson s Virgin Group. In addition, he also discloses his interest in examining the development of industrial and free trade zones, like the one in Eilat, for the activity of companies operating in Dubai.