Friday , 15 December 2017
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DP World in talks for Yuzhny concession
President Poroshenko visited Jebel Ali

DP World in talks for Yuzhny concession

DP World’s group chairman and CEO Sultan Ahmed Bin Sulayem has held talks with Ukrainian President Petro Poroshenko on participating in the concession of the state port Yuzhny.

The pair also spoke about collaboration on technology-driven customs operations during Poroshenko’s visit to Jebel Ali Port and Freezone.

Last year, DP World signed a Memorandum of Understanding (MoU) with the government of Ukraine to partner on matters of mutual interest.

Sulayem stated: “Jebel Ali prospered because of its geographic location as a gateway to the region and we see this hub potential in the port cluster on Ukraine’s Black Sea coast too.

“Ukraine has a promising logistics sector and with the right environment for economic development that’s supported by favourable foreign and domestic policies, it can grow substantially.”

Ukraine-UAE economic cooperation has been strengthening in recent years, with Ukrainian exports to the UAE increasing by almost 60% during the first five months of 2017.

Trade between Dubai and Ukraine amounted to more than AED1bn (US$270m) in 2016, with the majority being imports to Dubai, followed by exports and re-exports. Total trade in the first half of 2017 was over AED748m (US$204m).