The UAE and Egypt look forward to enhancing the prospects for maritime investment between the two countries and developing the sector, especially with regard to innovation, creativity and research and development.
The two sides discussed proposed development projects and plans that will benefit the maritime economy and enhance investment opportunities in several vital areas, including developing ports and logistics services through scientific research and Artificial Intelligence.
They also discussed key plans to enhance the global position of Egypt and the UAE and consolidate their competitiveness in the maritime sector. This was done when the UAE Ministry of Energy and Infrastructure held a meeting with Egypt’s Ministry of Transport on the side-lines of its participation in the General Assembly of the Arab Academy for Science, Technology and Maritime Transport, which was attended by around 20 Arab states.
20 leading seaports
The UAE has over 20 leading seaports and some of the largest oil export terminals in the world. It ranks 3rd in the Bunker Supply Index and is home to the headquarters of Abu Dhabi Ports Group, the developer of Maqta Gateway, which is the UAE’s first digital port community powered by blockchain. The UAE is also home to DP World, a leading smart trade enabler, that has launched several innovative solutions that have revolutionised the global supply chain.
These solutions include Dubai Trade, a one-stop shop for cross-border trade, and SeaRates, which provides instant and live rates for container shipping. The company also launched CARGOES.com, a platform that provides integrated solutions for financing and shipping goods around the world.
DP World has also transported more than 10,000 containers through BoxBay, an intelligent High Bay Storage (HBS) system, and is developing ‘Cargospeed’ in partnership with Hyperloop One, a high-speed system for transporting goods in pods that move inside vacuum tubes at a speed that is equal to planes, but on land.
On the other hand, Egypt has a 3,000-kilometre-long coastline along the Red Sea and Mediterranean Sea, containing huge wealth of fish, petroleum and gas as well as several coastal cities.
Eng Hassan Mohamed Juma Al Mansouri, Undersecretary for Infrastructure and Transport Affairs at the UAE Ministry of Energy and Infrastructure, said: “The UAE’s Blue Economy Strategy is based on several pillars, including innovation, creativity, research and development, as well as an effective system of links with academic institutions, universities and research centres that can keep pace with the scientific and technological developments, adapt them to local needs.
“The Strategy also depends on training and practical education, which is one of the main requirements to increase productivity and competitiveness for sustainable national economic development.” During the meeting, the Ministry of Energy and Infrastructure presented the UAE experience, especially in innovation, adopting digital solutions in the shipping and maritime transport and logistics sector as well as investing in the latest digital solutions.
Al Mansouri underlined the robust relationship between the UAE and Egypt and their leaderships. He noted that the UAE is looking forward to strengthening bilateral cooperation in all key areas, especially the maritime sector to encourage joint investments and develop existing investments. He commended the major development Egypt is witnessing in all economic fields.
Eng Hessa Al Malek, Advisor to the Minister of Energy and Infrastructure for Maritime Transport Affairs highlighted the key developments in the UAE’s maritime sector and its state-of-the-art capabilities. She emphasised the UAE's keenness to cooperate with the most important regional maritime centers development.
Al Malek explained: "The UAE’s wise leadership emphasises immensely on the maritime sector and is keen to enhance the contribution of the blue economy to comprehensive and sustainable development. The UAE plays a significant role in raising awareness about the importance of protecting the environment and water resources, as they are the most important pillars for developing the blue economy.
“The UAE encourages coordination among world countries protect rivers, seas and oceans from the factors that cause marine pollution. At the Ministry of Energy and Infrastructure, we are keen to share our experiences and best practices with regional and global maritime centres. We are proud of the constructive discussions with Egypt, which is one of the leading countries in the maritime sector to enhance our strategic partnership and achieve significant development in maritime operations and shipping in the region.”
The two sides discussed the most significant investment opportunities in the maritime sector, which could constitute a strong beginning for joint cooperation. There are investment opportunities in maritime transport in all Egyptian ports, including of Sokhna, Alexandria and Sharm El Sheikh. Egypt’s Ministry of Transportat is implementing a comprehensive plan to upgrade and develop the maritime transport system according to the best international systems. This includes developing Egypt’s ports to achieve the goal of transforming Egypt into a centre for global trade and logistics.
Admiral Reda Ahmed Ismail, Undersecretary of the Ministry of Transport and Head of the Maritime Transport Sector emphasised that the Egyptian Government is investing heavily to develop the blue economy and enhance its contribution to the country’s GDP.
He commended the development in the UAE’s maritime sector, pointing out that the UAE has become a leading maritime hub, and that the integration between the maritime sectors in Egypt and the UAE would enhance the region's competitiveness globally.
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).