#Dubai's DP World to partner with Israeli firm in bid for Haifa Port | Reuters

Dubai's DP World to partner with Israeli firm in bid for Haifa Port | Reuters:

Dubai’s DP World [DPWRD.UL] is partnering with an Israeli group to bid for one of Israel’s two main ports and to examine opening a direct shipping line between the two Middle East states, it said on Wednesday.

The announcement came a day after Israel and the United Arab Emirates signed an historic agreement to normalize ties, and marks a big development in trade and economic collaboration.

Dubai state-owned DP World, which operates ports from Hong Kong to Buenos Aires, signed a series of agreements with Israel’s DoverTower including a joint bid in the privatization of Haifa Port on the Mediterranean, one of Israel’s two main sea terminals.

“Israel has two ports, the port of Ashdod and the port of Haifa. They are strong ports in excellent locations. If there is an opportunity, there is nothing to prevent us from having a presence there,” DP World Chairman Sultan Ahmed bin Sulayem told Arabiya TV.