The new relationship between UAE and Israel brings opportunities to increase trade and prosperity in the region.
DP World and Bank Leumi to jointly explore Israel logistics investment
Memorandum of Understanding signed with Bank Leumi, one of the leading and largest banks in Israel
Initiative follows normalisation of relations between UAE and Israel
DP World, a global infrastructure-led supply chain solutions provider and Bank Leumi, Israel's oldest banking corporation and one of the leading institutions in the region, have signed a Memorandum of Understanding (MOU) to work together to enhance trade and logistics in Israel and promote the flow of trade between Israel and the wider region.
The MOU includes a framework for collaboration which will enable the parties to explore potential opportunities including the development of ports and logistics assets in Israel to drive trade and greater job creation; trade finance solutions to simplify working capital requirements for customers improve flow of cargo; and digital solutions in end-to-end logistics to remove inefficiencies in the supply chain.
Bank Leumi is one of Israel's largest banks and is actively working to help grow business ties between Israel and the UAE. The Chairman, Dr Samer Haj Yehia, and the bank's President and CEO, Hanan Freidman, have been visiting Dubai, with a large delegation of Israeli business leaders. The visit follows the normalisation of relations between UAE and Israel.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World said: "The new relationship between UAE and Israel brings opportunities to increase trade and prosperity in the region. Working in partnership with a reputable financial institution such as Bank Leumi will enable us to better deliver our end-to-end solutions strategy. At DP World we are actively working on opportunities to enable trade, for the benefit of the people of the UAE and the Middle East."
Hanan Freidman, President and CEO of Leumi said: "We at Leumi believe there is a golden opportunity for collaboration between business in Israel and the UAE, and we intend to be an active party. In DP World, we believe there is great opportunity to partner with a world class operator to drive efficiency and trade in Israel and beyond. In that perspective, we will be there for our customers to enable them to fulfil the potential business opportunities, by providing them with the appropriate financial services".
About DP World:
We are the leading provider of worldwide smart end-to-end supply chain & logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
We deliver these services through an interconnected global network of 127 business units in 51 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.
Our dedicated, diverse and professional team of more than 56,000 employees from 134 countries is committed to delivering unrivalled value to our customers and partners. We do this by focussing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.
We think ahead, anticipate change and deploy industry-leading technology to further broaden our digital vision to disrupt world trade and create the smartest, most efficient and innovative solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.