Abu Dhabi Ports and the Manufacturers’ Association of Israel (MAI) have come together to enhance the bilateral trade, investment, technology and research and development initiatives between UAE and Israel.
Under the Memorandum of Understanding, Abu Dhabi Ports subsidiaries Khalifa Industrial Zone Abu Dhabi (KIZAD) and ZonesCorp, which are under its Industrial Cities and Free Zone portfolio, will team up MIA to enhance the trade ties.
The MoU was signed by Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports and Dr. Ron Tomer President of the Manufacturers Association of Israel at Khalifa Industrial Zones Abu Dhabi (KIZAD), to agree on the cooperation and trade enhancement.
“Abu Dhabi Ports is well-positioned to offer Israeli industrial manufacturers the best solutions for their businesses within KIZAD and ZonesCorp,” said Falah Mohamed Al Ahbabi, member of Abu Dhabi Executive Council and chairman of Abu Dhabi Ports.
In September UAE had normalized its relations with Israel and following it several pacts were signed between the countries in sectors ranging from aviation to finance. This is the first agreement Abu Dhabi Ports has signed with an Israeli trade organization since the peace agreement.
MAI, which is the representative body of Israel’s industrial sectors that includes private and public entities that are responsible for more than 95 percent of the industrial production across Israel.
“We plan to continue in this important path and promote cooperation between Israeli industry and high-tech to the business sector in the United Arab Emirates and create new areas of trade that will open the economy, employment and society between the two nations, and beyond,” says Dr. Ron Tomer, President of the Manufacturers Association of Israel.
Abu Dhabi Ports which is part of ADQ, one of the region’s largest holding companies that own shares in key sectors of the economy including media, utilities, aviation and healthcare.
“KIZAD and ZonesCorp offer the Israeli industry a unique opportunity to scale their businesses exponentially in a cost-effective, timely, clearly defined and efficient manner. Through Abu Dhabi Ports, KIZAD and ZonesCorp act as a catalyst for business by opening the door to more than 100 markets through the UAE’s Free Trade and bilateral agreements for Israeli manufacturers.”
Kizad is the largest industrial hub for trade and logistics in the region, providing investors with a highly efficient base for their trading, manufacturing units, export operations and related activities.