Israel can link Middle East, European ports, DP World chairman says
The UAE recently broke with decades of Arab policy, forging ties with Israel, and looking to form business collaborations in several areas
Reuters | 12:38, 07.12.20
Israel is a logical, strategic link between ports in Europe and the Middle East, DP World’s chairman said on Monday, estimating initial UAE-Israel bilateral trade could be worth $5 billion.
Dubai state-owned DP World, one of the world’s largest port operators, is partnering with an Israeli group to bid for one of Israel’s main ports.
“The port facilities (in Israel) will allow us to link our ports in Europe to the Middle East,” DP World CEO Sultan Ahmed Bin Sulayem told a United Arab Emirates-Israel conference in Dubai sponsored by Bank Leumi, Calcalist, and Reshet 13.
DP World, whose European operations include ports in the United Kingdom and the Netherlands, runs the Middle East’s largest transshipment port in Dubai. In September, it signed a series of agreements with Israel’s DoverTower, including a joint bid for the privatization of the Haifa Port in the Mediterranean. The UAE is looking to form business collaborations with Israel in several areas.
DP World, whose European operations include ports in the United Kingdom and the Netherlands, runs the Middle East’s largest transshipment port in Dubai. In September, it signed a series of agreements with Israel’s DoverTower, including a joint bid for the privatization of the Haifa Port in the Mediterranean. The UAE is looking to form business collaborations with Israel in several areas.
The UAE in August broke with decades of Arab policy when it agreed to forge ties with Israel in a move that angered Palestinians and some Muslim states. Bahrain and Sudan followed suit in establishing relations.
UAE and Israeli officials have touted significant economic opportunities from the agreement and the UAE has publicly begun importing Israeli goods.