The MoU is valid for three years and two parties will cooperate within various fields and sectors, including global industry and infrastructure development, financing, building, operation, and maintenance, global economic cities and free zones development, and global logistics.
Captain Mohamed Juma Al Shamisi, CEO and Managing Director of AD Ports Group, stated, “We are looking forward to working with CMEC Group to explore potential opportunities globally.
Under the agreement the parties will look for opportunities globally but with a particular focus on Middle East, Central Asia, South Asia, Southeast Asia, East Asia, Africa, South America, and Europe.
Wang Bo, Chairman of the Board of Directors for China Machinery Engineering Group Corporation, commented, “We are delighted to partner with AD Ports Group to cooperate on strategic projects within a range of industries globally.
“Our extensive experience in nearly 100 countries and regions, combined with AD Ports Group's rapidly expanding network and significant resources, will bring mutual benefits and open doors to new growth opportunities for both parties,” he added.
China is among the UAE’s top commercial partners, with bilateral commerce between China and the UAE exceeding $64 billion during the first eight months of 2022, an increase of nearly 28% for the same period in 2021.
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