Feature, Freight News, Logistics, Sea

Dubai to explore Israel freight links

[ September 21, 2020   //   ]

DP World and Dubai Customs are to explore opportunities to develop trade links between Israel and the United Arab Emirates, following the signing of a series of memorandums of understanding (MoUs).

The UAE, along with Bahrain, have recognised Israel, ending a decades-long boycott of the country.

In a ceremony that would have been unthinkable even a few years ago, DP World group chairman and chief executive HE Sultan Ahmed bin Sulayem signed MoUs with DoverTower, a company owned by Shlomi Fogel, the co-owner of Israel Shipyards and Port of Eilat.

DP World will assess the development of Israeli ports and free zones and the potential establishment of a direct shipping route between Eilat and Jebel Ali. Dubai Customs will promote and facilitate trade between private entities in the two countries through customs best practice and seamless, innovative processes. Drydocks World will also explore business opportunities with Israel Shipyards.

The two companies will also establish a joint venture that will participate in the tender for privatisation of the Port of Haifa.

Later, DP World said it had signed a further MoU with Israel’s Bank Leumi to work together to enhance trade and logistics in Israel and promote the flow of trade between Israel and the wider region.