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AD Ports Group and the International Trade Centre (ITC) Sign a Strategic MOU for Cooperation to Enhance the Trade Facilitation Initiatives Globally
AD Ports Group and the International Trade Centre (ITC) Sign a Strategic MOU for Cooperation to Enhance the Trade Facilitation Initiatives Globally

Geneva, Switzerland/ Abu Dhabi, UAE,  28 June 2024: AD Ports Group (ADX: ADPORTS), one of the world's leading facilitators of global trade, logistics, and industry, and the International Trade Centre (ITC), the joint agency of the United Nations and the World Trade Organization (WTO), signed today a memorandum of understanding (MOU) to cooperate on trade facilitation, digital trade, logistics and transport through policy dialogue, digital trade solutions, capacity building, experience sharing and technical assistance.

The agreement was signed today by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, and Pamela Coke-Hamilton, Executive Director, ITC.

Under the MOU, the two entities will use various solutions to simplify trade, improving the efficiency of the transport, maritime, ports and logistics sectors in the United Arab Emirates, countries of the Gulf Cooperation Council (GCC) and developing countries. Both parties will review frameworks and policies across these sectors to evaluate their effectiveness and develop and upgrade border services in line with international best practices. AD Ports Group and ITC will provide technical assistance for developing and least developed countries (LDCs), including on the implementation of the WTO Trade Facilitation Agreement (TFA) for faster and smoother cross-border trade.

The cooperation will also see AD Ports Group and ITC make trade more inclusive and conducive to small and medium-sized enterprises (SMEs), while fostering dialogue and consensus-building. Both sides will provide advisory support to design SMEs-led trade strategies and business solutions and promote women traders' role in trade facilitation with empowerment programmes and initiatives.

The parties will then promote joint services and solutions and jointly participate in events, conferences and workshops in customs digitalisation, trade facilitation, ports, maritime and logistics. Furthermore, they will share experiences, networks, capacity building and training on key areas of trade facilitation and customs excellence.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: 'We're extremely excited to be the first ports and logistics entity to sign such an MOU with ITC, demonstrating AD Ports Group's value proposition. This move strengthens our relationships with international trade organisations, opens new global investment opportunities, and promotes the United Arab Emirates' economic diversification in line with our wise leadership's vision. Our cooperation with ITC in the area of trade facilitation services and solutions will make transactions smoother, enabling us to integrate more small businesses into value chains and improve our overall efficiency. ITC shares our value and stance regarding sustainability and we're fully confident that by working together we can help each other reach our environmental goals.'

Pamela Coke-Hamilton, Executive Director of ITC, said: 'Digital is changing the way small businesses of developing countries trade, making information available in a timely manner, and making cross-border trade faster, easier and more environmentally friendly. Through our new partnership with AD Ports Group, we look forward to leveraging their technology and advanced trade facilitation solutions to enhance the competitiveness of SMEs in international trade and create a more efficient, inclusive and sustainable trading environment in the region and beyond.'

ITC was established in 1964 in Geneva, Switzerland, with the mandate to promote international trade and the export of goods and services of developing countries.

ITC provides countries and clients tailored support through unique advisory services, capacity building, training, and mentoring, free tools and business data, and trade-specific publications. It also supports governments and private sectors to improve the efficiency of their transport and logistics sectors through such activities as regulatory impact assessment capacity building programmes and trade digitisation.

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 806 times
PR Category : Banking & Investments
Posted on : Saturday, June 29, 2024  7:39:00 AM UAE local time (GMT+4)
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