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AD Ports will explore the development terminal at Chittagong Port

ABU DHABI: AD port group signed an MoU with the Chittagong Port Authority to explore the future development and operation of the multi-purpose terminal at Chittagong Port and other supporting opportunities 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 economy of Bangladesh in particular. We are happy about that
working with AD Ports Group on the development of this crucial 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 investment
Bangladesh.”

Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Groupsaid: “We are excited to explore the development and operation of the Multi-Purpose Terminal and other supporting opportunities in Chittagong, Bangladesh’s premier seaport, and look forward to leveraging our experience and capabilities to help our partners tackle of increased trade volumes in one of the fastest growing economies in Southeast Asia, guided by the vision of our wise leadership.”

More than 90% of Bangladesh’s international trade passes through Chittagong’s ports. Moreover, Bangladesh’s seaports are an integral part of the multi-modal network that connects the republic to the hinterland, in addition to providing sea access for the landlocked Himalayan countries of Nepal, Bhutan and India. Northeast region.

Both countries celebrated fifty years of bilateral ties earlier in March this year, with ongoing talks to end the situation Comprehensive Economic Partnership (CEPA) aimed at enhancing economic cooperation and opening new avenues for trade and investment, the MoU has been signed between AD Ports Group and Chittagong Port Authority in line with the above-mentioned efforts.

The UAE is considered Bangladesh’s second largest remittance source, a leading trading partner with a significant investment base for Bangladesh. The volume of non-oil trade between the two countries exceeds US$2 billion.