DP World Strengthens Partnership with India
- Business & Finance
Trade between India and Dubai is expanding at an unprecedented pace, and as one of the largest marine terminal operators in the region, DP World is a major facilitator and contributor to this growth.
That’s the message from Mohammed Al Muallem, Senior Vice President and Managing Director, DP World, UAE Region to the 7th India Shipping Summit held in Mumbai this week.
Mr Muallem said, “Dubai, with its superior supply chain infrastructure, is the preferred commercial gateway to the UAE and other GCC markets. Indian exporters and importers have been among DP World’s most valued business partners and will remain so for a long time to come.”
Trade between Dubai and India – direct and through Dubai’s free zones – soared in the first six months of 2011 reaching AED 123.10 billion, compared to AED 182.76 billion for the entire 2010. India is also the top-ranking non-oil trading partner of the UAE and the GCC as a whole.
Pointing out that the GCC region remains a major export destination for Indian businesses, Mr Al Muallem said: “Our relationship is founded on centuries of close ties and cultural affinity. India has always been an important commercial partner of the UAE and an important destination of DP World’s investments in port infrastructure. We are committed to building on this partnership, with our flagship Jebel Ali Port continuing to play its role as a trade catalyst between India and the rest of the world.”
DP World operates five marine terminals in India and is developing a new terminal in Kulpi in West Bengal. Its Vallarpadam International Container Transshipment Terminal (ICTT), inaugurated in February, is a US$600 million public-private partnership (PPP) with the Indian Government.
DP World supports the 7th India Shipping Summit and is sponsor of the networking reception at the event, which has brought together dozens of industry leaders from around the world, key stakeholders and decision-makers.
Mr Al Muallem said, “The India Shipping Summit provides a great networking opportunity for the port and shipping industry to explore ways to contribute to India’s growth.”
Source: DP World, October 13, 2011.