To boost trade and logistics in Israel, leading global logistics service provider DP World recently signed a Memorandum of Understanding (MoU) with Bank Leumi, Israel’s oldest banking corporation.
The MOU includes a framework for collaboration which will enable the parties to explore potential opportunities including the development of ports and logistics assets in Israel to drive trade and greater job creation, trade finance solutions to simplify working capital requirements for customers improve flow of cargo, and digital solutions in end-to-end logistics to remove inefficiencies in the supply chain.
Sultan Ahmed Bin Sulayem, Chairman and CEO, DP World said, “The new relationship between the UAE and Israel brings opportunities to increase trade and prosperity in the region. Working in partnership with a reputable financial institution such as Bank Leumi will enable us to better deliver our end-to-end solutions strategy. At DP World we are actively working on opportunities to enable trade, for the benefit of the people of the UAE and the Middle East.”
Hanan Freidman, President and CEO of Leumi said, “We at Leumi believe there is a golden opportunity for collaboration between business in Israel and the UAE, and we intend to be an active party. In DP World, we believe there is great opportunity to partner with a world class operator to drive efficiency and trade in Israel and beyond. In that perspective, we will be there for our customers to enable them to fulfil the potential business opportunities, by providing them with the appropriate financial services”.
