The Virginia Port Authority signs memorandum of understanding with Port of Salalah


The Virginia Port Authority has signed a memorandum of understanding (MoU) with the Port of Salalah.

The deal with the Port of Salalah was signed by its CEO Peter Ford and Russell Held, deputy executive director of development at Virginia International.

The MoU is intended to see the two ports cooperating closely in areas of business development and knowledge sharing.

The signing was announced in a press release in which Russell Held said: “This is an important relationship to cultivate because of Salalah's strategic location.”

Last year more than a fifth of the cargo volume handled at the Port of Virginia flowed through the Suez Canal.

Mr Held added: “The Middle East and Indian sub-continent are important markets for us and the Suez trade route to and from Asia continues to grow in importance to the Port of Virginia.”

And he said the ports’ goals are to share operational best practices, jointly market their good service connectivity, take advantage of the US-Oman free trade agreement and drive investment and business growth on both ends of the supply chain.

The ports have complementary assets, both in current trade arrangements and geographical positioning and will explore initiatives to develop current trade links and connections, according to a press release from the two ports.

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