AD Ports Group and Chittagong Port Authority Sign MoU for Strategic Development

AD Ports Group has penned down a MoU with the Chittagong Port Authority to explore future development and operation opportunities for the Multi-Purpose Terminal at Chittagong Port, as well as other related projects in Bangladesh.

Mohammad Sohail, Chairman, Chittagong Port Authority, said: “The Multi-Purpose Terminal in Chittagong is a priority for the Government of Bangladesh. It will be a game changer for the regional economy in general and the Bangladeshi economy in particular. We are pleased to collaborate with AD Ports Group on the development of this vital project, leveraging their expertise and capabilities as a global trade and logistics player. We hope that this MoU will pave the way for further cooperation that will attract more foreign direct investments to Bangladesh.”

Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “We are excited to explore the development and operation of the Multi-Purpose Terminal and other ancillary opportunities in Chittagong, the main seaport of Bangladesh, and look forward to leveraging our experience and capabilities to assist our partners in addressing increased trade volumes in one of the fastest-growing economies in South-East Asia, guided by the vision of our wise leadership.”

Over 90% of Bangladesh’s international trade is conducted through the ports of Chittagong. Additionally, Bangladesh’s seaports are a crucial part of the multimodal network that connects the country to its hinterland and provides sea access for the landlocked Himalayan countries of Nepal, Bhutan, and India’s Northeast region.

Earlier in March this year, both nations celebrated 50 years of bilateral ties and are in ongoing talks to establish a Comprehensive Economic Partnership Agreement (CEPA) aimed at enhancing economic cooperation and opening new avenues for trade and investment. The MoU signed between AD Ports Group and the Chittagong Port Authority aligns with these efforts.

The UAE is Bangladesh’s second-largest source of remittances and a leading trading partner with a significant investment presence. The volume of non-oil trade exchanges between the two countries exceeds USD 2 billion.

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