DP World signs MoU with Bank Leumi to promote flow of trade between Israel and the wider region

DP World signs MoU with Bank Leumi to promote flow of trade between Israel and the wider region
The initiation follows normalisation of relations between UAE and Israel

DP World has signed a Memorandum of Understanding (MoU) with Israel’s oldest banking corporation, Bank Leumi, to work together to enhance trade and logistics in Israel.

Aiming to promote the flow of trade between Israel and the wider region, the MoU includes a framework for collaboration which will enable the parties to explore potential opportunities.

This includes the development of ports and logistics assets in Israel to drive trade and greater job creation, trade finance solutions to simplify working capital requirements for customers improved flow of cargo and digital solutions in end-to-end logistics to remove inefficiencies in the supply chain.

Bank Leumi is one of Israel’s largest banks and is actively working to help grow business ties between Israel and the UAE.

President and CEO of Leumi Hanan Freidman said: “We at Leumi believe there is a golden opportunity for collaboration between business in Israel and the UAE, and we intend to be an active party.

“In DP World, we believe there is a good opportunity to partner with a world class operator to drive efficiency and trade in Israel and beyond.”

Sultan Ahmed Bin Sulayem, chairman and CEO of DP World, said: “The new relationship between the UAE and Israel brings opportunities to increase trade and prosperity in the region.

“Working in partnership with a reputable financial institution such as Bank Leumi will enable us to better deliver our end-to-end solutions strategy.”

DP World is actively working on opportunities to enable trade, for the benefit of the people of the UAE and the Middle East.