2020 World Economic Forum in Davos
FILE PHOTO: DP World CEO Sultan Ahmed bin Sulayem attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 21, 2020. REUTERS/Denis Balibouse

December 7, 2020

DUBAI (Reuters) – Israel is a logical, strategic link between ports in Europe and the Middle East, DP World’s chairman said on Monday, estimating initial UAE-Israel bilateral trade could be worth $5 billion.

Dubai state-owned DP World, one of the world’s largest port operators, is partnering with an Israeli group to bid for one of Israel’s main ports.

“The port facilities (in Israel) will allow us to link our ports in Europe to the Middle East,” Sultan Ahmed bin Sulayem told a United Arab Emirates-Israel conference in Dubai.

DP World, whose European operations include ports in the United Kingdom and the Netherlands, runs the Middle East’s largest transshipment port in Dubai.

It said in September it had signed a series of agreements with Israel’s DoverTower, including a joint bid in the privatization of Haifa Port on the Mediterranean.

The UAE in August broke with decades of Arab policy when it agreed to forge ties with Israel in a move that angered Palestinians and some Muslim states. Bahrain and Sudan followed suit in establishing relations.

UAE and Israeli officials have touted significant economic opportunities from the agreement and the UAE has publicly begun importing Israeli goods.

(This story removes superfluous word in paragraph 4)

(Reporting by Alexander Cornwell and Saeed Azhar; Editing by Kim Coghill and Louise Heavens)

Public Affairs

Sign Up for Our Newsletters

Get notified first!

You May Also Like

Newsom Recall Shows States Can Do More to Protect Constitutional Rights: Dr. Cordie Williams

It’s a ‘shot across the bow’ of politicians who would restrict civic…

Texas State Senate Passes Election Integrity Bill Targeting Mail-in Ballots

The Republican-led Texas state Senate passed a bill early on Thursday that…

Lyfeloop is Best New Social Media App

Lyfeloop has been Named Best New Social Media App while quietly gaining…

Grassroots Rebellion Grows With New Calls to Ban Critical Race Theory from Military, Public Schools

Kevin O’Leary said he was “devastated” when he learned his former football…