DP World Chairman and Panama President discuss future trade ties
Trade infrastructure development to diversify Panama’s economy and DP World’s international experience in over 40 countries were at the centre of discussions held in Dubai yesterday between the global trade enabler’s Group Chairman and CEO Sultan Ahmed Bin Sulayem and Panamanian President Juan Carlos Varela.
As part of his visit, Mr. Varela was taken on a tour of DP World’s flagship Jebel Ali Port and Free Zone, including Terminal 3, which is among the world’s most productive and technologically advanced, employing surveillance drones and remote - controlled quay cranes that are operated from the safety and comfort of a control room. A presentation was also delivered on the role that DP World plays in enabling customers to manage the complexities and cut costs in the global supply chain, highlighting the Dubai Logistics Corridor as a model that has helped the port and free zone contribute to over 20% of Dubai’s GDP.
DP World’s existing operations in Latin America include a 50 - year concession in Ecuador, investing over $1 billion in developing maritime trade infrastructure, with plans to develop a logistics zone to cr eate a regional trading hub in Posorja. It also operates DP World Santos in Brazil, the busiest container port in the region. Other locations include DP World Callao in Peru; DP World Caucedo in the Dominican Republic, which is attracting 3PL s and global retailers with a multimodal logistics platform and in - house port community system and a terminal in Buenos Aires, Argentina. Dubai's non - oil trade with Latin American countries has increased significantly in recent years, amounting to more than USD 35 billion between 2010 and 2016. Meanwhile, Dubai’s trade with Panama exceeded USD 20.6 million in 2017.
