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Turkish ports set to gain from Abu Dhabi investment deal

[ November 25, 2021   //   ]

Abu Dhabi’s AD Ports Group has entered into a strategic partnership agreement with Turkey’s sovereign wealth Turkiye Varlik Fonu to develop investment opportunities in the country.
It was signed In the presence of Crown Prince of Abu Dhabi, Sheikh Mohamed bin Zayed Al Nahyan and Turkey’s president Recep Tayyip Erdogan together with representatives of the UAE Armed Forces, the Abu Dhabi Executive Council, AD Ports Group and Turkiye Varlik Fonu.
It will develop opportunities for port development and operations, and to coordinate efforts to examine other logistics-related investment projects within Turkey.The two organisations will collaborate in exploring and examining a range of opportunities for investments, establishing a joint steering committee and foster trade ties between.
AD Ports Group said it would strengthen its position as a leading integrated ports and logistics entity in the region and will increase trade between the two countries.
The Group has already signed strategic collaboration agreements with in Jordan, Iraq and Egypt, deploying its expertise in operating ports, industrial cities, free zones, and logistics services.
Chief executive Captain Mohamed Juma Al Shamsi said: “AD Ports Group is delighted to enter into this strategic agreement with Turkiye Varlik Fonu, recognising the significant economic and technological development our collaboration can deliver. Turkey offers a broad range of important and attractive investments for AD Ports Group, and we believe Turkiye Varlik Fonu will be an ideal partner to help implement our ambitious plans. This long-term agreement factors into our global strategy to reimagine world trade and logistics, under the guidance of our wise leadership.”
Turkiye Varlik Fonu chief executive, Salim Arda Ermut, CEO, added: “We are pleased to be working with AD Ports Group as part of a broad range of national measures to strengthen our trade, maritime and logistics sectors. Turkey has a number of world class port assets, and collaboration with AD Ports Group will help raise the range of services and quality of infrastructure to the next level.”