UAE’s AD Ports Group inks major deal with China
Political and economic cooperation between the United Arab Emirates and China is growing, with robust trade ties and a visit by the Chinese premier to the Gulf state.
AD Ports Group announced a deal with a number of Chinese entities on Wednesday in an effort to boost trade between the United Arab Emirates and China.
The Abu Dhabi port operator signed a “strategic memorandum of understanding” with Hainan Harbor & Shipping Holding Co Ltd, Yangpu Economic Development Zone and CSP Abu Dhabi Terminal to “further strengthen trade between the United Arab Emirates and China,” the company said in a post on X.
The deal covers the infrastructure, technology, energy and logistics sectors and promotes a sister port relationship between Abu Dhabi’s flagship Khalifa Port and the Yangpu Port in China’s island of Hainan, located south of the mainland, per the post.
Hainan Harbor & Shipping Holding is a state-owned port transportation company based in the Hainan capital, Haikou. The Yangpu Economic Development Zone contains a port as well as an oil refinery and in 2021 became the first development zone in China to allow foreign investment. The CSP Abu Dhabi Terminal is located at the Khalifa Port and is run under an agreement between AD Ports Group and China’s COSCO Shipping Ports.
