Dubai - Mubasher: DP World and DoverTower, owned by Shlomi Fogel who is the co-owner of Israel Shipyards and Port of Eilat, have inked Memorandum of Understandings (MoUs) to develop trade links between the UAE and Israel, according to the Dubai media office.

Under the MoUs, the two companies will assess opportunities to develop infrastructure for trade between the UAE and Israel and within Israel and the region.

Meanwhile, DP World will focus on the development of Israeli ports and free zones and the potential establishment of a direct shipping route between Port of Eilat and Jebel Ali.

Dubai Customs will also apply the best innovative processes to facilitate trade between private entities in the two countries.

Moreover, Drydocks World in Dubai, a leading provider of marine and offshore services, will cooperate with Israel Shipyards to develop, manufacture, and market ISL products.

Commenting on the MoUs, the Chairman and CEO of DP World, Sultan Ahmed bin Sulayem, said: "The MoUs will contribute to the efforts to tap economic and trade cooperation opportunities, and facilitate development-oriented linkages between the two countries."

The Chairman and owner of DoverTower Group and a shareholder of Israel Shipyard port in Haifa and partner of Eilat Port, Shlomi Fogel, noted: "I believe that this agreement is just the beginning of a mutual and long collaboration and more agreements will follow between DP World and DoverTower across different industries."