Abu Dhabi's AD Ports Group, the leading global facilitator of trade, logistics, and industry, said it has reached an agreement with Karachi Port Trust to develop advanced port and terminal infrastructure at the Pakistani port.
The MoU represents a shared vision to drive sustainable growth, promote trade diversification, and strengthen bilateral ties between the UAE and Pakistan, said a statement from AD Ports Group.
The Group has taken a significant step towards enhancing regional connectivity and fostering economic growth in Pakistan by signing the deal with the Karachi Port Trust (KPT).
The MoU paves the way for enhancing bilateral cooperation and increasing efforts in the development, expansion, and digitalisation of port projects within Pakistan.
The collaboration encompasses a wide range of initiatives and projects aimed at enhancing port infrastructure, optimising operational efficiencies, and embracing digitalisation.
The Group will leverage its technical expertise to conduct feasibility studies and analysis, to ensure commercial success of the project, it stated.
A senior delegation from UAE visited Karachi led by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group along with other senior officials and met Faisal Sabzwari, Federal Minister For Maritime Affairs, Government of Pakistan.
This MoU paves the way for enhancing bilateral cooperation and increasing efforts in the development, expansion, and digitalisation of port projects within Pakistan.
"We aim to leverage our Group’s extensive experience and capabilities to transform Karachi Port’s Container Terminal into a premier hub for transshipment as well as imported and exported cargo," remarked Al Shamisi.
"In line with our wise leaderships’ vision for economic diversification, we anticipate that this collaboration will propel Karachi Port towards becoming a global hub of global trade and reinforce its significance as a key player in the trade and maritime industries, further stimulating economic prosperity in the region," he added.
KPT Chairman Syed Syedain Raza Zaidi said: "This partnership with AD Ports Group is a significant milestone for Karachi Port Trust. By combining our strengths and expertise, we are poised to unlock unprecedented growth opportunities for our port and the wider trade community."
"Together, we will work towards transforming Karachi Port into a world-class maritime hub that can effectively meet the demands of the evolving global trade landscape," he added.-TradeArabia News Service