AD Ports Group and Turkey’s Turkiye Varlik Fonu has signed a strategic partnership agreement to collaborate on major investment opportunities for port development and operations.
The partnership, signed during a ceremony held in Turkey, will also coordinate efforts to examine other logistics-related investment projects within Turkey.
The agreement was signed by Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group, and Salim Arda Ermut, CEO of Turkiye Varlik Fonu – which is Turkey’s sovereign wealth fund.
Under the terms of the agreement, the two organisations will collaborate in exploring and examining a range of opportunities for investments in Turkey, establishing a joint steering committee to assess all investment opportunities and foster trade ties between the two parties.
The agreement will strengthen AD Ports Group position as a ports and logistics entity in the region and will increase trade between the UAE and Turkey.
Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group, commented, “AD Ports Group is delighted to enter into this strategic agreement with Turkiye Varlik Fonu, recognising the significant economic and technological development our collaboration can deliver.
“Turkey offers a broad range of important and attractive investments for AD Ports Group, and we believe Turkiye Varlik Fonu will be an ideal partner to help implement our ambitious plans. This long-term agreement factors into our global strategy to reimagine world trade and logistics, under the guidance of our wise leadership.”
Salim Arda Ermut, CEO, Turkiye Varlik Fonu, noted, “We are pleased to be working with AD Ports Group as part of a broad range of national measures to strengthen our trade, maritime and logistics sectors.
“Turkey has a number of world class port assets, and collaboration with AD Ports Group will help raise the range of services and quality of infrastructure to the next level.”