DP World has held high-level talks with the Panamanian government about exporting a Jebel Ali-style business model to the newly expanded Panama Canal.
Sultan bin Sulayem, the DP World group chairman and chief executive, met the Panamanian president Juan Carlos Varela in the hope of capitalising on trade opportunities opened up by the Panama Canal expansion project, which was completed last year.
Mr bin Sulayem, who is also the chairman of Dubai’s Ports, Customs and Freezones Corporation, highlighted the company’s experience of building industrial parks and logistics hubs in Dubai and around the world.
The Panama Canal expansion project has doubled the capacity of the canal by adding a new lane of traffic, allowing a larger number of ships of increasing width and depth to pass through.
“Our international experience of developing and connecting marine and inland terminals with logistics centres, industrial parks and free zones is something we are exporting around the world, and our discussions focused on how we could contribute to the development of the economy and support the business community,” Mr bin Sulayem said after the meeting.
He said that DP World’s experience across its international network of 77 marine and inland terminals, such as its operations in Jebel Ali, Kazakhstan, Rwanda and London Gateway, were evidence of adding value to economies in very different cultural and regional environments.
According to Dubai Government figures, trade between Dubai and Panama was more than Dh77 million last year, compared with Dh71.5m in 2015.
The meeting is the latest in a series DP World has been holding with Panamanian officials with the aim of developing logistics hubs in the strategically important South American country to add to its global network.
In Latin America, the company has operations in Argentina, the Dominican Republic and Peru.
DP World declined to comment on reports that it is among four foreign investors expected to bid for a 67 per cent stake in Greece’s second largest port in Thessaloniki.
A DP world spokesman said “We seek opportunities around the world wherever they arise.”
lbarnard@thenational.ae
Follow The National's Business section on Twitter
