H.E. Captain Mohamed Juma Al Shamisi, CEO and Managing Director of Abu Dhabi Ports Group (AD Ports), led a high-level delegation from the UAE to Karachi, Pakistan, where they met with Federal Minister for Maritime Affairs Faisal Sabzwari to sign a strategic Memorandum of Understanding (MOU). The MOU calls for a total direct foreign investment of over $2 billion dollars in Pakistan.
A major Middle Eastern maritime and logistics company owned by the UAE government, AD Ports, has agreed to invest in Pakistan’s port infrastructure, create a special economic zone, run cargo rail services, and develop inland ports as part of the agreement. With this sizeable investment, the UAE and Pakistan hope to improve regional connectivity, spur economic expansion, and solidify their bilateral ties.
The Memorandum of Understanding (MOU) between Karachi Port Trust (KPT) and Abu Dhabi Ports (ADP) represents a shared vision to promote sustainable growth, diversify trade, and embrace digitalization. The partnership includes numerous projects to improve port infrastructure, maximize operational effectiveness, and use digital technologies. To guarantee the projects’ commercial success, AD Ports will also solicit foreign direct investment, carry out feasibility studies, and offer technical assistance.
The Container Terminal at Karachi Port, according to Captain Mohamed Juma Al Shamisi, wants to become a premier transshipment hub and play a bigger part in world trade. The partnership is in line with the leadership’s vision for economic diversification in both nations, with the aim of making Karachi Port a hub for international trade and promoting regional economic growth.
The partnership’s importance and the fact that it will provide the port and the larger trade community with opportunities for growth that have never before been possible were emphasized by the chairman of the Karachi Port Trust. Together, they want to make Karachi Port a top-tier maritime hub that can adapt to the shifting needs of the world trade landscape.
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