(MENAFN- Emirates News Agency (WAM))
DUBAI, 11th January, 2021 (WAM) -- DP World's port-centric logistics arm Smart Solution Logistics FZE (SSL) has signed an agreement with Israel-based Allalouf Logistics to explore new growth opportunities for the logistics and general freight forwarding business in the UAE and Israel.
The agreement, which will foster trade between key trade hubs in both countries and beyond, was signed by Albert Kraak, Chief Operating Officer (COO) of SSL and Gil Miller, Managing Director, Allalouf Logistics Ltd.
Strategically located in Dubai's Jebel Ali Port with excellent connectivity to terminals at the port, DP World's SSL offers an extensive range of containerised logistics solutions. Using its worldwide network of ports and terminals overseas, SSL helps companies to link their supply chain to any part of the world using high-end IT platforms and variety of transportation modes. Through its collaboration with Allalouf Logistics that is part of the Allalouf Group, one of the largest and longest established shipping agencies in Israel, the company aims to reinforce the logistics sector, in the UAE, Israel and other prime markets.
The freight and logistics market in the UAE has grown steadily over the years, surpassing other major industries. It is recognised as a crucial enabler in the UAE's economic diversification efforts. According to the Federal Competitiveness and Statistics Authority, the logistics sector's gross output amounted to AED219 billion in 2018. Additionally, the sector's contribution to the UAE's GDP is projected to increase by 8 per cent in 2021.
Albert Kraak, Chief Operating Officer, SSL, said, "We take pride in the fact that we have been able to consistently contribute to the growth of the economy and we will continue doing so. Despite the COVID-19 crisis, we achieved a 30 per cent year-on-year jump in revenue. The normalisation of trade ties between the UAE and Israel has further opened up growth opportunities for us. We firmly support the leadership's vision for the country's future development and are confident that this new venture will aid the economic prosperity of the nation, while also cementing the leading status of the logistics industry in the region."
He added, "Through our collaboration with Allalouf Logistics, our primary goal is to expand our network and reach markets that were inaccessible in the past."
Gil Miller, Managing Director, Allalouf Logistics Ltd. explained, "The onset of the global pandemic has underpinned the importance of the logistics sector. Collaborations like these are essential to tackle the challenges in the supply chain and keep economies running."
As part of the agreement, both entities will deploy all efforts to establish and maintain suitable freight stations required for the operational receiving, consolidating, loading, shipping, unloading and orderly release of cargo, and full container load.
MENAFN11012021000061011009ID1101419786
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.