DEVELOPING trade while also helping facilitate peace in the Middle East is the focus of a series of memorandums of understanding signed this week by two key figures in the international maritime sector.

The MOU was signed by DP World CEO and group chair Sultan Ahmed bin Sulayem and Shlomi Fogel, owner of the DoverTower company and co-owner of Israel Shipyards and Port of Eilat.

The agreements seek to explore opportunities to develop trade links between Israel and the United Arab Emirates as well as “strengthen peace, dialogue and stability and promote sustainable

“The MoUs will contribute to the efforts to tap economic and trade cooperation opportunities, and facilitate development-oriented linkages between the two countries,” said Sultan Ahmed bin Sulayem.

“DP World’s mission is to enable global trade – our work to build trade routes between the UAE, Israel and beyond will help our customers to do business in the region more easily and efficiently.”

Mr Fogel said the MOUs were significant.

“This is a great honour to work and collaborate with His Excellency Sultan bin Sulayem, chairman and CEO of DP World. I’m proud of our mutual friendship and vision to create a strategic partnership that will positively impact the global trade and economy while strengthening the commercial relationship between the state of Israel and the United Arab Emirates,” he said.

“I believe that this agreement is just the beginning of mutual and long collaboration and more agreements will follow between DP World and DoverTower across different industries.

“I am also happy to announce that DP World and Israel Shipyards will collaborate to establish a joint venture that will participate in the tender for privatisation of the Port of Haifa.”

The UAE this week became just the third Arab nation to recognise the state of Israel, a result hailed by US President Donald Trump as the “dawn of a new Middle East”.

Significant divisions remain in the region between Arab nations and Israel over unresolved issues regarding Palestine and the rights of Palestinians in Gaza and the West Bank.