AD Ports’ new cargo service to improve trade with Kuwait

WAM

Abu Dubai’s AD Ports Group has launched a new direct shipping service dedicated to roll on-roll off (Ro-Ro) between UAE’s Khalifa Port and Kuwait’s Shuwaikh Port.

The new service aims to improve commercial connectivity and facilitates trade with Kuwait, the UAE state-owned WAM news agency reported.

Ammar Mubarak Al Shaiba, acting CEO of the maritime cluster and Safeen Group, AD Ports Group, said the group is committed to utilising its integrated logistics capabilities to meet customers’ requirements, help grow their businesses, and facilitate their access to their target markets with competitive rates and reduced time.

The bilateral trade between the two GCC countries has seen rapid growth in several key commodity markets.

During 2022, the federal competitiveness and statistics centre’s preliminary data showed an increase in non-oil trade exchange between the two countries, estimated at AED43.5 billion ($11.84 billion), compared to AED38.5 billion in 2021, a year-on-year increase of 13 percent. 

In addition, the value of non-oil exports to Kuwait increased from AED12.7 billion to AED14.2 billion. While the value of re-exports to Kuwait increased from AED20.9 billion to AED21.9 billion, coinciding with the increase in imports to the UAE from AED4.9 billion to AED7.3 billion.

The volume of trade exchange between the UAE and regional countries has witnessed significant growth due to comprehensive business agreements and strategic partnerships. The growth is supported by AD Ports Group signing several agreements with Egypt, Jordan, Iraq and Turkey.

AD Ports Group recently inked a 30-year concession agreement worth $200 million to develop and operate Egypt’s Safaga port. In addition, two 15-year agreements, a memorandum of understanding and three head of terms for ports in Egypt’s Red Sea region and the Mediterranean Sea were signed.