AD Ports signs deal to develop Somali ports, maritime sectors
- 30 Oct 2024
AD Ports Group, a leading facilitator of global trade, logistics, and industry, on Wednesday signed a Memorandum of Understanding (MoU) with the Somali Ministry of Fisheries and Blue Economy to explore the possibility of jointly investing in and developing the nation’s fisheries, ports, and maritime sectors.
The MoU will explore potential collaborations in integrating fish ports and processing plants, developing a maritime monitoring centre and stations, upgrading port infrastructure, building integrated fishing ports, and establishing a technical vocational training school.
AD Ports Group brings a wealth of experience in managing ports, economic cities, and free zones, in addition to providing integrated multimodal logistics services in the UAE and globally. In collaboration with the Somali Ministry of Fisheries and Blue Economy, AD Ports Group will look for opportunities to develop the maritime and fisheries sectors and explore other potential projects.
In Africa, AD Ports Group recently secured concessions in the ports, maritime, and logistics sectors in Egypt, the Republic of Congo, Angola, and Tanzania. The United Arab Emirates is a long-time supporter of the people of Somalia, where agriculture makes up about two-thirds of economic output. The World Bank forecasts that the Somali economy will grow by 3.7 per cent this year, accelerating to 4.5 per cent in 2025, amid declining inflationary pressures and global commodity prices, as the government maintains broad-based fiscal stability.
Ahmed Hassan Aden, Minister of Fisheries and Blue Economy, Somalia, stated, “By joining forces with AD Ports Group, we are laying the groundwork for long-term growth and sustainability in our port infrastructure and fishing industries. This collaboration will not only enhance our capacity but also drive economic development and provide new opportunities for our communities reliant on the maritime economy.”
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “AD Ports Group will explore supporting Somalia’s positive economic growth through potential investments and other collaborations in the nation’s ports, fisheries, and maritime sectors. Under the wise guidance of our leadership, AD Ports Group and the Federal Ministry of Fisheries and Blue Economy - Somalia will seek opportunities to unlock the potential of the country’s maritime and fisheries sector by leveraging the Group’s global expertise and resources to generate long-term growth and regional connectivity.”
The MoU will also consider ways to cooperate on the enforcement and implementation of maritime regulations, support the development of technology and infrastructure, and explore the potential provision of project management and other opportunities of mutual interest.
Separately, AD Ports Group has signed a Memorandum of Understanding with the General Department of Vietnam Customs (GDVC) to explore developing digital trade solutions for the country’s customs department.
Under the MoU, AD Ports Group and GDVC will assess a range of possibilities to cooperate on a Single Window trade solution, customs and border solution, a trade management and risk management platform, as well as artificial intelligence-supported digital trade solutions.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, “We welcome this opportunity to explore development of a Single Window solution and other best-in-class digital trade and customs solutions for the General Department of Vietnam Customs. Under the wise vision of our leadership, AD Ports Group will look to identify ways in which our Group can share its expertise to help digitalise Vietnam’s customs department and drive economic growth.”
The MoU was formalised after the UAE and Vietnam completed a Comprehensive Economic Partnership Agreement (CEPA), which along with digital enhancements to customs solutions are expected to expedite trade between the countries.
Abu Dhabi-based AD Ports Group has a global network of ports, maritime and shipping, logistics and industrial development operations in more than 50 countries, and has a strategic interest in expanding its activities in Southeast Asia.
In June, AD Ports Group and the International Trade Centre (ITC), the joint agency of the United Nations and the World Trade Organization (WTO), signed a Memorandum of Understanding (MoU) to cooperate on trade facilitation, digital trade, logistics and transport through policy dialogue, digital trade solutions, capacity building, experience sharing and technical assistance.
Under the MoU, the two entities will use various solutions to simplify trade, improving the efficiency of the transport, maritime, ports and logistics sectors in the United Arab Emirates, countries of the Gulf Cooperation Council (GCC) and developing countries. Both parties will review frameworks and policies across these sectors to evaluate their effectiveness and develop and upgrade border services in line with international best practices.
WAM