ISLAMABAD: The National Logistics Cell (NLC) and DP World have signed a memorandum of understanding (MoU).

The MoU was signed by Major General Farrukh Shahzad Rao, Director General NLC, and Sheikh Sultan Ahmad Bin Sulayem, Global CEO DP World, on behalf of their respective organisations. Senior officials of NLC, DP World and representatives of chambers of commerce and industries and CEOs of leading companies were present on the occasion.

Under the MoU, DP World and NLC will explore areas of cooperation in Pakistan’s logistics sector enabling both the organisations to expand businesses through various instruments of cooperation including a potential joint venture.

The MoU covers a wide range of mutual interests such as port management container and bulk terminals, dry ports, inland container depots, rail and road transportation.

Maj Gen Farrukh Shahzad Rao termed the MoU as the beginning of a new era for the logistics industry of Pakistan. He said that the cooperation between the two organizations will attract investments, create job opportunities and boost business activities in Pakistan.

Addressing the occasion, the CEO DP World appreciated the role of NLC with particular reference to its regional connectivity initiatives under International Road Transport (TIR).

“Pakistan is a growing market and an important trade corridor to Central Asia. Partnerships are critical to meeting the region’s trade requirements, and this MoU with NLC enables us to formally explore the country’s huge potential,” he added.

Copyright Business Recorder, 2023