AD Ports Group eyes Chittagong terminal
AD Ports Group has signed an MOU with the Chittagong Port Authority to explore the development and operation of a multi-purpose terminal at Chittagong Port, Bangladesh. The collaboration aims to leverage AD Ports Group's expertise in global trade and logistics to support increased trade volumes in one of Southeast Asia's fastest-growing economies.
The MOU was signed by Mohammad Sohail, chairman of Chittagong Port Authority, and Ahmed Al Mutawa, regional CEO of AD Ports Group, in the presence of UAE and Bangladeshi officials.
The project is expected to attract foreign investments and enhance Bangladesh's trade infrastructure, which handles over 90% of the country's international trade. It aligns with ongoing efforts to strengthen economic ties between the UAE and Bangladesh, which recently celebrated 50 years of bilateral relations and are currently negotiating a comprehensive economic partnership agreement (CEPA). (pb)