China has taken its Belt and Road Project (BRI) to the Middle East and will be using the new Khalifa Port in the UAE as a hub. One of the biggest shipping companies in the world, Shanghai-based China Ocean Shipping Company (Cosco), has invested $300 million in the CSP Abu Dhabi Terminal.
According to Arab News, this could help make it one of the biggest ports in the Arabian Gulf over the next five years. CNBC says the deal will allow the shipping company to operate and develop a new container terminal in Khalifa Port.
The Khalifa Port is located halfway between Abu Dhabi and Dubai, serves more than 25 shipping lines and has connections to 70 international destinations. Mohamed Al Shamisi, the CEO of Abu Dhabi Ports said this makes it a ‘strategic location’ for trade.
“It’s huge. We are not serving the Middle East per se, but we are serving the North African Indian subcontinent and we are transitioning point to all of these destinations.” Al Shamisi said Khalifa Port is actually the heart of the one belt one road as it has such infrastructure where the biggest ships can enter and use it as a hub.
A joint statement said the state-of-the-art facility offers facilities for full and partial bonded container shipments, the full range of container packing services, short-term warehousing for deconsolidated cargo, as well as easy connectivity with container terminals in Khalifa Port.
Trade ties between China and UAE have been growing stronger since a visit by Abu Dhabi Crown Prince Mohammed Bin Zayed Al Nahyan to Beijing in 2015. China has highlighted this new deal as a good start for the two countries pragmatic cooperation in the key area.
BRI is the Asian giant’s most ambitious infrastructure projects to date. The project is designed to link China with Asia, Europe, the Middle East and Africa. This will definitely give a boost to Beijing’s political and trade influence.
More News at EurAsian Times
- Indian Military Base in Sabang can Strangle China at the Strait of Malacca
- Why is Japan Unhappy with Bullet Train Project in India?
- From Asia to Africa, India-Japan Defence Partnership Aggressively Countering China