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Sunday, May 19, 2024

AD Ports Group launches new Ro-Ro shipping service

AD Ports Group announced the launch of a new direct shipping service dedicated to Ro-Ro, between UAE’s Khalifa Port and Kuwait’s Shuwaikh Port.

The new service aims to improve commercial connectivity and facilitates trade with Kuwait, according to the company’s release.The long-standing bilateral trade ties enjoyed between the two GCC countries in recent years saw a rapid growth in several key commodity markets.

During 2022, the Federal Competitiveness and Statistics Centre’s preliminary data shows an increase in non-oil trade exchange between the two countries estimated at AED 43.5 billion, compared to AED 38.5 billion in 2021, recording 13% growth.

In addition, the value of non-oil exports to Kuwait increased from AED 12.7 billion to AED 14.2 billion. While the value of re-exports to Kuwait increased from AED 20.9 billion to AED 21.9 billion, coinciding with the increase in imports to the UAE from AED 4.9 billion to AED 7.3 billion.The volume of trade exchange between the UAE and the countries of the region has recently witnessed significant growth, owing to a set of comprehensive business agreements and strategic partnerships with neighbouring countries, including, but not limited to, the agreements AD Ports Group signed with Egypt, Jordan, Iraq and Turkiye.

The launch of the new shipping service between Khalifa Port and Shuwaikh Port is part of AD Ports Group’s efforts to enhance trade connectivity and facilitation in the region.

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