Abu Dhabi Ports, the master developer, operator and manager of ports and industrial zones in Abu Dhabi, has signed a memorandum of understanding (MoU) with SACE, the Italian Export Credit company, for enhancing business relations between both parties. 

 

SACE facilitates the access to credit lines to support companies and banks in their internationalisation process, in addition to its traditional business of export credit and investment protection, said a statement.

 

The MoU aims at formalising a common base for the purpose of exploring, strengthening and enhancing the trade and economic cooperation between UAE and Italy, through the exchange of information and business opportunities between the two organisations, it said.

 

Captain Mohamed Juma Al-Shamisi, chief executive officer of Abu Dhabi Ports and Alessandro Castellano, CEO of SACE signed the deal at the UAE pavilion of ‘Expo Milan 2015’, in the presence of Sultan Bin Saeed Al Mansouri, UAE’s Minister of Economy and Federica Guidi, Italian Minister for Economic Development.

 

Abu Dhabi Ports and SACE intend to collaborate on developing and strengthening their business relationships. Both parties will provide information on ongoing or potential new projects offering new business opportunities for Italian companies.

 

“Khalifa Industrial Zone Abu Dhabi (Kizad), the industrial and logistics hub integrated with our flagship Khalifa Port has tailored offerings for Italian companies looking to expand their business into Abu Dhabi and the region. Our world-class business environment, state-of-the-art facilities and infrastructure, as well as dedicated investor support has already attracted a good deal of foreign direct investments, including Italian businesses,” said Captain Al Shamisi.

 

“By facilitating initiatives of mutual interest and expanding opportunities for trade and investment, Abu Dhabi Ports, the enabler of Abu Dhabi’s maritime business, is supporting our mission to realise the Emirate’s economic diversification," he said.

 

"Khalifa Port is an expression of the economic and industrial diversification strategy of the Emirate of Abu Dhabi, to which Italian companies can contribute with their know-how in key sectors for the Emirate economy," said Castellano. 

 

“The agreement signed today with Abu Dhabi Ports opens important new growth opportunities for Made in Italy in the UAE, where our companies export € 5 billion in goods and services," he added. - TradeArabia News Service