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DP World chief highlights need for co-operation to reap rewards from OBOR

DP World chief highlights need for  co-operation to reap rewards from OBOR
DP World chairman and ceo Sultan Ahmed Bin Sulayem has urged governments in emerging markets along China’s planned One Belt One Road (OBOR) to take advantage of the initiative.

After participating in a panel Astana Economic Forum in Kazakhstan last week, Bin Sulayem said trading blocs such as the Eurasian Economic Union, the Shanghai Cooperation Organization, the South Asian Association for Regional Cooperation (SAARC), the Organisation of Islamic Cooperation, and other European cooperative organisations need to focus on the provision of basic infrastructure and the networking of transport and logistics.

He highlighted a $5trn infrastructure gap for which firm partnerships would be needed to attract investors to make the plans possible.

“Commentators estimate that OBOR countries need another $5trn for infrastructure development from 2016 to 2020. One way to fund it is by trading blocs finding innovative ways of working together with a focus on infrastructure provision, developing the financial markets, mitigating risks and eliminating red tape to attract investors,” he said.

“At DP World, we have global experience of enabling trade. We have 77 marine and inland terminal across six continents – all with governments and other stakeholders because we are stronger together in realising new trade routes and ensuring global connectivity.”

Bin Sulayem highlighted the need to improve inland and intermodal infrastructure along with soft infrastructure and digital technologies.