The agreement being exchanged
AD Ports Group signs agreement with Turkiye Varlik Fonu
ABU DHABI, November 25, 2021
Abu Dhabi’s AD Ports Group will collaborate with Turkey’s sovereign wealth fund Turkiye Varlik Fonu to explore major investment opportunities within Turkey.
Towards this, the two entities have signed a strategic partnership agreement to collaborate on major investment opportunities for port development and operations and to coordinate efforts to examine other logistics-related investment projects within Turkey.
The agreement will strengthen AD Ports Group position as a leading integrated ports and logistics entity in the region and will increase trade between the UAE and Turkey.
The signing took place in the presence of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, and Turkish President Recep Tayyip Erdogan.
The agreement was signed by Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group, and Salim Arda Ermut, CEO of Turkiye Varlik Fonu. The ceremony was held in Turkey.
Under the terms of the agreement, the two organisations will collaborate in establishing a joint steering committee to assess all investment opportunities and foster trade ties between the two parties.
AD Ports Group continues to significantly enhance its global footprint by signing strategic collaboration agreements with leading organisations in Jordan, Iraq and Egypt. The group is deploying its expertise in operating world-class ports, industrial cities and free zones, and logistics services in support of these international agreements.
Captain Al Shamsi said: “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.”
Ermut said: “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.”-- TradeArabia News Service
