Global trade enabler DP World has recently signed a Memorandum of Understanding (MoU) with the government of Ukraine to collaborate on matters of mutual interest, including the development of logistics capability in the country. On a recent visit to Ukraine DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem signed the MoU with the Ukrainian Minister of Infrastructure Volodymyr Omelyan and later met with President Petro Poroshenko, Prime Minister Volodymyr Groysman, senior ministers and officials.
At the meetings Bin Sulayem also delivered a letter of intent from DP World for its P&O Maritime subsidiary to develop the tug and pilot boat services of Odessa port on the Black Sea. President Poroshenko underlined Ukraine’s encouragement of foreign investment and welcomed the agreement between the Ministry of Infrastructure and DP World.
Bin Sulayem said Ukraine’s geographic location on the Black Sea and potential for investment supported by favorable foreign and domestic policies provided a promising environment for the growth of the logistics sector. He added that DP World’s Constanta Terminal in Romania, a state-of-the-art facility with excellent deep-draft access, also enjoyed a strategic geographic location in the Black Sea and the MOU reinforced DP World’s commitment to develop world class logistics facilities in the region.
Prime Minister Groysman said that foreign investment was a top priority for the government especially in sectors such as power, agriculture, infrastructure and IT and emphasised the suitable business environment of the country. Bin Sulayem said there was substantial scope for cooperation because of the skilled manpower and location of Ukraine with industrial zones being one specific area to explore. He also expressed DP World’s readiness to cooperate on the development of customs operations through the use of electronic technologies.
The agreements build on DP World’s role as a developer of trade and logistics globally, in partnership with governments in 40 countries with 77 operating marine and inland terminals. Trade between Dubai and Ukraine amounted to more than AED 1 billion in 2015, with the majority being imports to Dubai, followed by exports and re -exports. Total trade in the first half of 2016 has already crossed AED 500 million. (Portnews/Business World Magazine)
