Page 428 - MOE ENGLISH PR REPORT- NOVEMBER 2024

fleet and marine services, as well as cooperation in enhancing the logistics and transport services
in Pakistan’s main airports.

AD Ports Group is a major investor in Pakistan, which is a strategic trade gateway to Central Asia
and Russia. With UAE partner Kaheel Terminals, AD Ports Group is developing, operating and
managing container, bulk and general cargo operations at the Port of Karachi, Pakistan’s major port,
where it has agreed to invest almost US$400 million over 15 years.

The UAE is one of Pakistan’s largest trade partners and a major source of foreign investment, which
has amounted to more than US$10 billion over the last 20 years, according to the UAE Ministry of
Foreign Affairs. The UAE-Pakistan trade volume rose to US$7.9 billion in 2023, up 12 percent from
2022, according to the UAE Ministry of Economy.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, stressed that the UAE and
Pakistan have long-standing strategic partnerships in many sectors. “The MoUs signed today
establish a new phase of prosperity in trade and investment. They will contribute to providing new
opportunities for the business communities and private sectors on both sides, support sustainable
development efforts, and stimulate joint economic growth to achieve the mutual interests of both
countries and peoples.”

He added, “There is a common will between the two countries to advance their trade and
investment relations to new heights in main priority sectors”.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said,
“With these MoUs today, AD Ports Group will explore ways to identify potential projects and
opportunities for mutual growth that will strengthen ties between the UAE and Pakistan, in line with
our wise leadership vision. We are committed to enabling trade by enhancing regional connectivity
and help Pakistan maximise its role as a growing, regional trade partner.”

The MoUs are the latest in a developing relationship between the Group and Pakistan related to
upgrades to the regional partner’s trade, transport and logistics infrastructure.

In February 2024, the Group signed a 25-year concession agreement with the Pakistani federal
agency that oversees Karachi Port, the Karachi Port Trust (KPT), to develop, operate and manage
bulk and general cargo terminal berths 11-17 at Karachi Port’s East Wharf.

As majority shareholder in a joint venture with Kaheel Terminals of the UAE, the venture agreed to
invest US$75 million over the next two years in superstructure and equipment, followed by US$100
million within five years to increase efficiency and capacity by 75 percent, enabling the terminal to
handle up to 14 million tonnes per annum.

The agreement built upon an earlier 50-year concession agreement secured by AD Ports Group in
June 2023 to develop, operate and manage Karachi Gateway Terminal Limited (KGTL) container
terminal berths 6-10 at Karachi Port’s East Wharf. With Kaheel Terminals, AD Ports Group agreed to
invest US$220 million in the project over 10 years.

https://www.wam.ae/en/article/b63cfvb-ports-group-pakistan-government-sign-mous-enhance