Dubai-based global marine terminal operator DP World and the state-run Taiwan International Ports Corporation (TIPC), have signed a memorandum of understanding (MoU) for the development of Kaohsiung Port’s Terminal 7 in Taiwan.

The agreement marks the beginning of a joint effort to seek future business opportunities and to steer growth in Taiwan’s port infrastructure, while enhancing the country’s trade potential by establishing seamless cargo movement across its supply chain, the marine port operator said in a statement.

According to DP World, Kaohsiung Port enjoys a key geographical location, is an excellent natural harbor and was once among the world’s top container ports.

DP World Group chairman and CEO Sultan Ahmed Bin Sulayem, said: “We look forward to bringing our expertise and experience to the development of Taiwan’s economy. It is commendable how TIPC and the Taiwan government are committed to planning and steering the country’s economic growth, building a better future for generations to come.

“Our strategy in developing in strategic locations where our customers want us to be, serving global trade and being able to handle the new generation of ultra large vessels shows how we are investing in the future, translating our vision into reality."

TIPC plans to expand the port to serve the import and export needs of southern Taiwan, and wants it to become a global shipping hub by 2040, according to its website. - TradeArabia News Service