Agreement to help Abu Dhabi win more BRI business

Abu Dhabi Ports and Jiangsu Overseas Cooperation Investment Co Ltd (JOCIC) have signed a five-year agreement with Industrial and Commercial Bank of China, which is expected to facilitate Chinese companies operating at Khalifa Industrial Zone (KIZAD), Abu Dhabi's integrated trade, logistics, industrial and free zone, to further tap business opportunities in Belt and Road Initiative related economies.

Abu Dhabi Ports, the operator and manager of the emirate's commercial and community ports, operates 11 ports and terminals across the United Arab Emirates and abroad, as well as KIZAD, and the agreement reiterates the strategic position played by the emirate to the major trade hubs related with the BRI.

The three organizations will work together to simplify application processes for services ranging from foreign exchange to financial consultancy and project finance, including speeding up the processing of documents, such as those used to grant land rights within KIZAD, according to the agreement.