Abu Dhabi Ports Group agrees to build Karachi Port
Abu Dhabi (AD) Ports Group and Karachi Port Trust (KPT) have signed a Memorandum of Understanding (MoU) to enhance the infrastructure of Karachi Port so that it can become a leading hub for transhipment and international trade, as reported by the national dailies on 22 May.
The UAE envoy encourages Pakistani businessmen to engage in joint ventures.
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According to the news source, AD Ports Group will leverage their expertise and relationships with major shipping lines to transform Karachi Port into a global trade center through this partnership. The joint statement issued by the two countries highlighted the potential for Pakistan and the UAE to increase their economic cooperation.
Captain Mohamed Juma Al Shamisi, chief executive officer (CEO) of AD Ports Group, is confident that the collaboration will foster economic growth in the region. According to him, this partnership aligns with the goals of both nations to promote trade diversification, strengthen bilateral ties, and achieve sustainable development.
This partnership, according to KPT Chairman Syed Syedain Raza Zaidi, will unlock unprecedented development for Karachi Port. It will elevate the port to world-class status, allowing it to satisfy the demands of the global trade landscape.