The Ukrainian Sea Ports Authority (USPA) and the Port Authorities of Alexandria and Damietta, Egypt, signed a Memorandum of cooperation on 2 November in Kyiv, Ukraine. The document implies joint implementation of projects, information exchange and mutual assistance in seaborne trade.
The signing took place in Kyiv. From the Egyptian side, the Memorandum was signed by the Minister of Investment and International Cooperation HE Dr. Sahar Nasr, from the Ukrainian side by Head of Odessa branch of the USPA (Odessa Seaport Authority) Igor Tkachuk.
“The port of Odessa has a great experience of cooperation with the ports of Egypt. The cargo turnover between our ports is more than 4.5 mln tons per year. More than half of these cargoes is export of agrarian products from Ukraine. The signing of the Memorandum will be an additional stimulus and a basis for the further development of bilateral cooperation,” – commented Igor Tkachuk.
Apart from agricultural products, the cargo volume includes manufactured goods and equipment. USPA adds that in the1960-70s, a large amount of industrial equipment was transported by sea from Odessa to Alexandria, mainly for the Aswan Highland Dam, a key building of the largest hydropower site in northern Africa.
In the near future, it is planned to create a joint working group, which will include representatives of the USPA and the Egyptian port authorities, shipping lines, traders, port operators. The group will discuss the implementation of joint investment projects and ways to increase cargo turnover between the two countries.
Besides, the Memorandum provides for a comprehensive exchange of information, mutual assistance for shipping companies, importers, exporters and forwarders, exchange of experience in the field of modernization of port infrastructure, quality of vessel handling, development of IT services and technologies.
Alexandria is Egypt’s main seaport, located in the Nile delta. With the annual throughput of 15 mln tons, it accounts for about 80% of the total volume of foreign trade in Egypt.
Port Damietta is located on the Mediterranean coast, 200 km east of Alexandria. Its grain handling capacity is 7.5 mln tons. Apart from a bulk and general cargo facilities, the port includes an LPG plant (SEGAS LNG), a container terminal and a mineral fertilizer plant.