Underlining the growing bilateral co-operation between the Dominican Republic and Dubai World, His Excellency Dr. Leonel Fernandez, President of the Dominican Republic, and First Lady, Her Excellency Dr. Margarita Cedeno De Fernandez, met Mr. Jamal Majid Bin Thaniah, Vice Chairman of Dubai World last week.
The meeting, which covered topics related to bilateral economic co-operation, was held at the starting point of the four-day visit to the UAE by Dr. Fernandez and his high- level delegation.
The 65-member delegation of ministers, government officials and business leaders, on Thursday toured some of the landmark Dubai World developments, including Nakheel’s iconic project The Palm Jumeirah, DP World’s flagship Jebel Ali Port and Economic Zones World’s Jebel Ali Free Zone.
On Thursday, Jamal Majid Bin Thaniah received the Dominican leader and his team at Nakheel’s headquarters, where the visitors were briefed on Nakheel’s various projects.
Dr. Fernandez also met top management and senior officials of Dubai World, including Mohammed Sharaf, Chief Executive Officer of DP World, and Salma Hareb, Chief Executive Officer of Economic Zones World, at the Jebel Ali Free Zone.
Dubai World has strong ties with the Dominican Republic where its global marine terminal operator, DP World manages and operates Port of Caucedo, the country’s leading trade gateway.
Mr. Bin Thaniah commented that the meeting was an ideal occasion to re-iterate Dubai World’s commitment to enhance the co-operation with the Dominican Republic. He said: “It was a fruitful meeting and we are pleased with the support H.E. Dr. Fernandez offered to DP World’s efforts to maximise Port Caucedo’s operational efficiency. The delegation’s visit highlights the importance the country attaches to DP World’s presence there. Caucedo is a leading contributor to the Dominican Republic’s economic development and DP World has a major part in enabling the port to achieve its goal.
“The discussions covered various possibilities of furthering cooperation with the Dominican Republic. The visit also provided us with an opportunity to present to the delegation the various developments being undertaken by DP World and Economic Zones World and their significant contribution to the growth of Dubai and the UAE.”
The Dominican leader lauded the development strategy followed by Dubai World and its companies and congratulated the group on the excellent operation and management of its projects around the world.
DP World commenced the operations at Caucedo container terminal facility in 2003. The Port of Caucedo forms an important part of DP World’s operations in the Americas, which also include terminals in Argentina’s Buenos Aires, Canada’s Vancouver, and Venezuela’s Cabello and a new development in Peru’s Callao. The Dominican Republic’s central location in the Caribbean provides Caucedo with great potential to become a strategic shipping hub in the region.
Dubai World, through its subsidiary companies, has been strategically expanding its investment bases in the Americas. Port and Free Zone operations are among the core areas of this expansion. Jafza International, the global arm of Economic Zones World, has launched a major logistics-cum-business park project in South Carolina in the US. Istithmar World, the group’s investment arm, recently opened its international office in New York to focus on the opportunities in the US and the region.
The delegation’s visit comes at a time when trade ties between Dubai and the Dominican Republic show a steady rise. Total direct trade between the two economies increased by 47 per cent, amounting to Dhs6.104 million, in the first six months of 2008, compared with the corresponding period in 2007. According to Dubai World’s Statistics Department studies, the overall trade between the two countries in 2007 was valued at Dhs7.984 million.
About DP World
DP World is one of the largest marine terminal operators in the world, with 46 terminals and 13 new developments across 30 countries . Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world.
DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo.
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.
In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 14 consecutive years.
In 2007, DP World handled more than 43.3 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia – an increase of 18% on 2006. It has global capacity of more than 54 million TEU, which is set to increase significantly in coming years with a committed pipeline of expansion and development projects in key growth markets, including India, China and the Middle East. Capacity will rise to around 90 million TEU by 2017.
