Port of Montreal Strengthens Ties with India’s Mundra Port
Montreal Port Authority (MPA) has signed a Cooperation Agreement with Mundra Port, Mumbai, India, to strengthen its business and cooperative ties with the port.
It will facilitate collaboration between the ports on marketing and business development, as well as allow them to share information on marine operations and industry best practices.
The agreement was signed by members of MPA during a trade mission to India during February 12-16, 2018.
The mission’s objective was to increase the Port of Montreal's visibility with the Indian marine transport logistics chain.
Mundra Port is India's largest commercial port, with more than three million TEUs in annual container traffic.
It is operated and owned by Adani Ports, a leading player in India's transportation logistics industry, and Special Economic Zone Limited (APSEZ).
Pictured: Tony Boemi, Vice-president, Growth and Development at the Port of Montreal, Christine St-Pierre, Québec Minister of International Relations and La Francophonie, Jordan Reeves, Consul General of Canada, Mumbai, Sandeep Mehta, President of Adani Ports and Special Economic Zone and Dominic Marcotte, Consul and Director of the Québec Government Office in Mumbai.
The agreement serves to strengthen Montreal’s increasing stake in Indian trade, and to take advantage of trade growth in India.
India is one of the largest emerging markets in the world, with a 7.2% growth rate in its gross domestic product.
Asia currently accounts for 25% of the Port of Montreal's market, by far the fastest growing segment.
Of this, India accounts for 5%.
Trade between India and the Port of Montreal has grown significantly in recent years, having been virtually non-existent as a market only a few years ago.
From 2016 to 2017, the volume of goods to and from India rose by 40%.
Operated by the Montreal Port Authority (MPA), Port of Montreal is the second largest port in Canada.
A diversified transshipment centre, it handles a range of containerized and non-containerized cargo, liquid bulk and dry bulk.
Tony Boemi, Vice-President, Growth and Development, MPA, said: "Asia, and especially India, is an emerging market with enormous potential.
“It and the Port of Montreal are already solidly connected thanks to container services.
“This Cooperative Agreement with Mundra Port strengthens our presence in India and showcases the Port of Montreal's advantages as a strategic gateway of choice for goods destined for the North American market."
Jordan Reeves, Consul General of Canada, said: "The Government of Canada fully supports the Port of Montreal's efforts as it solidifies its position as the leading container port on Canada's East Coast and strengthens its trade relations with the Indian market, which is emerging and increasingly significant."