Abu Dhabi Ports Group and the Madagascar Economic Development Board have signed a memorandum of understanding (MoU) to explore opportunities for enhancing trade between the two parties. The agreement was signed by Mohamed Aida Al Menhali, Regional CEO of Abu Dhabi Ports Group, and Joselle Rafdi, Director General of the Madagascar Economic Development Board on Thursday.
The focus of the MoU will be on key areas of mutual interest, including developing economic cities and free zones, ports, cruise ship facilities, and berths. Additionally, both parties will explore opportunities to develop Madagascar’s fisheries sector, strengthen innovation and technology sectors, and provide maritime training programs.
Mohamed Aida Al Menhali emphasized the group’s commitment to expanding strategic partnerships and sharing expertise and resources to explore new opportunities for mutual prosperity. Joselle Rafdi highlighted the memorandum as a step towards attracting foreign direct investment to Madagascar and fostering economic cooperation.
A joint working group will be established to oversee the implementation of projects in the agreed-upon areas of cooperation. Both parties are dedicated to working together to achieve common development and economic cooperation in the two countries. This partnership signifies a commitment to exploring new opportunities and facilitating investment in Madagascar’s economic development.
In conclusion, this partnership is a significant step towards strengthening economic ties between Abu Dhabi Ports Group and Madagascar Economic Development Board. It represents a shared vision for achieving common development goals through collaboration in various sectors such as logistics, maritime services, ports development among others.
The signing ceremony marks another milestone in Abu Dhabi Ports Group’s efforts to expand its reach beyond its home country’s borders by forming strategic partnerships with other countries around the world. The agreement with Madagascar Economic Development Board is expected to lead to increased trade flows between the two countries while also opening up new avenues for investment in Madagascar’s economy.
As both parties continue their work together towards achieving their common goals, they remain committed to fostering greater economic cooperation that benefits not only their own countries but also contributes positively towards global prosperity.
