Saudi ‘Mawani’… Destination of Global Navigation Routes

Giant crane to lift containers in a Saudi port. Asharq Al-Awsat
Giant crane to lift containers in a Saudi port. Asharq Al-Awsat
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Saudi ‘Mawani’… Destination of Global Navigation Routes

Giant crane to lift containers in a Saudi port. Asharq Al-Awsat
Giant crane to lift containers in a Saudi port. Asharq Al-Awsat

The total number of transshipment containers in Saudi ports have increased by more than 19 percent in the first half of 2018.

This new indicator confirms the performance, productivity and logistical and operational capacities of Saudi ports.

In this regard, Saudi Ports Authority, Mawani, reported that the total number of transshipment containers in the Saudi ports during the first half of this year has amounted to 1.03 million, an increase of 19.35% compared to 867,000 containers during the same period last year.

The increase comes within Mawani's efforts to enhance the Saudi port services, productivity and operational and logistic capabilities to achieve the Kingdom’s Vision 2030.

Transshipment is the process of transferring containers from one vessel to another through the port to transport it to its final destination, which is more like a transit.

It is a value-added service that world major ports seek to add by attracting regular international shipping routes.

These developments come as a statistical report issued by Mawani has revealed that more than six million transshipment and standard containers were delivered during 2017, a high figure reflecting the vitality of the Saudi economy.

According to the same statistical report, the number of standard containers delivered during 2017 amounted to 4.47 million standard containers while the number of transshipment containers reached 1.93 million.

The report pointed out that the Saudi ports have witnessed a noticeable increase in performance and productivity indicators during 2017 compared to 2016.

This improvement is attributed to the efforts exerted by the ports and related parties that aim to strengthen the national economy and enhance the Kingdom's commercial position to achieve the Kingdom’s Vision 2030 by strengthening Saudi Arabia’s status as a global logistics center.



UAE, Morocco Finalize Terms of Comprehensive Economic Partnership Agreement

The conclusion of negotiations was confirmed by the signing of a joint statement by Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, and Moroccan Minister of Industry and Trade Ryad Mezzour. WAM
The conclusion of negotiations was confirmed by the signing of a joint statement by Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, and Moroccan Minister of Industry and Trade Ryad Mezzour. WAM
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UAE, Morocco Finalize Terms of Comprehensive Economic Partnership Agreement

The conclusion of negotiations was confirmed by the signing of a joint statement by Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, and Moroccan Minister of Industry and Trade Ryad Mezzour. WAM
The conclusion of negotiations was confirmed by the signing of a joint statement by Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, and Moroccan Minister of Industry and Trade Ryad Mezzour. WAM

The United Arab Emirates and Morocco have finalized the terms of a Comprehensive Economic Partnership Agreement (CEPA) that will launch a new chapter of mutually beneficial trade and investment ties between the two countries, Emirates News Agency (WAM) reported.

The conclusion of negotiations was confirmed by the signing of a joint statement by Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, and Moroccan Minister of Industry and Trade Ryad Mezzour, WAM said.

Upon implementation, the UAE-Morocco CEPA will facilitate the free flow of goods and services by reducing or removing tariffs, eliminating unnecessary barriers to trade, improving market access for services, enhancing customs harmonization and establishing flexible rules of origin for goods.

It will also establish platforms for investment and private-sector collaboration in priority sectors such as renewable energy, tourism, infrastructure, mining, food security, transport, logistics, and ICT, WAM added.

The two countries shared $1.3 billion in non-oil trade in 2023, an increase of 30 percent on 2022 and 83 percent more than was recorded in 2019. The UAE is the largest Arab investor in Morocco with more than $15 billion invested in a variety of strategic projects.