14 November 2024, Thu |
8:16 PM
The UAE Ministry of Energy and Infrastructure met with Egypt’s Ministry of Transport on the sidelines of the Arab Academy for Science, Technology, and Maritime Transport’s General Assembly, which was attended by around 20 Arab states.
The two parties discussed proposed development projects and plans that will benefit the maritime economy and increase investment opportunities in a variety of critical areas, such as developing ports and logistics services through scientific research and Artificial Intelligence. They also discussed key plans to strengthen Egypt’s and the UAE’s global positions and competitiveness in the maritime sector.
H.E. Eng. Hassan Mohamed Juma Al Mansouri, Undersecretary for Infrastructure and Transport Affairs at the UAE Ministry of Energy and Infrastructure, said: “The UAE’s Blue Economy Strategy is based on several pillars, including innovation, creativity, research and development, as well as an effective system of links with academic institutions, universities and research centres that can keep pace with the scientific and technological developments, adapt them to local needs. The Strategy also depends on training and practical education, which is one of the main requirements to increase productivity and competitiveness for sustainable national economic development. During the meeting, the Ministry of Energy and Infrastructure presented the UAE experience, especially in innovation, adopting digital solutions in the shipping and maritime transport and logistics sector as well as investing in the latest digital solutions.”
Al Mansouri emphasized the strong relationship between the UAE and Egypt, as well as their respective leaders. He stated that the UAE is eager to strengthen bilateral cooperation in all key areas, particularly the maritime sector, in order to encourage joint investments and expand existing investments. He praised Egypt’s significant economic development in all areas.
The UAE has over 20 major seaports and some of the world’s largest oil export terminals. It is ranked third in the Bunker Supply Index and is home to the headquarters of Abu Dhabi Ports Group, the developer of Maqta Gateway, the UAE’s first blockchain-powered digital port community. The UAE is also home to DP World, a leading smart trade enabler that has introduced a number of innovative solutions that have transformed the global supply chain. Dubai Trade, a one-stop shop for cross-border trade, and SeaRates, which provides instant and live container shipping rates, are two of these solutions.
CARGOES.com, a platform that provides integrated solutions for financing and shipping goods around the world, was also launched by the company. DP World has also transported over 10,000 containers using BoxBay, an intelligent High Bay Storage (HBS) system, and is working with Hyperloop One to develop ‘Cargospeed,’ a high-speed system for transporting goods in pods that move inside vacuum tubes at the same speed as planes, but on land.
H.E. Eng. Hessa Al Malek, Advisor to the Minister of Energy and Infrastructure for Maritime Transport Affairs highlighted the key developments in the UAE’s maritime sector and its state-of-the-art capabilities. She emphasised the UAE’s keenness to cooperate with the most important regional maritime centers development. Al Malek explained, “The UAE’s wise leadership emphasises immensely on the maritime sector and is keen to enhance the contribution of the blue economy to comprehensive and sustainable development. The UAE plays a significant role in raising awareness about the importance of protecting the environment and water resources, as they are the most important pillars for developing the blue economy. The UAE encourages coordination among world countries protect rivers, seas and oceans from the factors that cause marine pollution. At the Ministry of Energy and Infrastructure, we are keen to share our experiences and best practices with regional and global maritime centres. We are proud of the constructive discussions with Egypt, which is one of the leading countries in the maritime sector to enhance our strategic partnership and achieve significant development in maritime operations and shipping in the region.”
The two sides discussed the most significant investment opportunities in the maritime sector, which could constitute a strong beginning for joint cooperation. There are investment opportunities in maritime transport in all Egyptian ports, including of Sokhna, Alexandria and Sharm El Sheikh. Egypt’s Ministry of Transportat is implementing a comprehensive plan to upgrade and develop the maritime transport system according to the best international systems. This includes developing Egypt’s ports to achieve the goal of transforming Egypt into a centre for global trade and logistics.H.E. Admiral Reda Ahmed Ismail, Undersecretary of the Ministry of Transport and Head of the Maritime Transport Sector emphasised that Egypt has a 3,000-kilometre-long coastline along the Red Sea and Mediterranean Sea, containing huge wealth of fish, petroleum and gas as well as several coastal cities. He noted that the Egyptian Government is investing heavily to develop the blue economy and enhance its contribution to the country’s GDP. He commended the development in the UAE’s maritime sector, pointing out that the UAE has become a leading maritime hub, and that the integration between the maritime sectors in Egypt and the UAE would enhance the region’s competitiveness globally.
