DAMASCUS, July 13 (Xinhua) -- Syria's General Authority for Land and Sea Ports (GALSP) and the United Arab Emirates's (UAE) DP World, one of the world's biggest commercial port firms, signed an agreement worth 800 million U.S. dollars to enhance port infrastructure and logistics services in Syria, the state-run SANA news agency reported Sunday.
The deal focuses on developing a multi-purpose terminal at the port of Tartous on Syria's Mediterranean coast, along with cooperation on establishing industrial and free trade zones.
Qutaiba Badawi, head of the GALSP, said the deal marks a new phase in Syrian maritime and logistics development and is expected to help reintegrate Syria into the regional and global economic landscape.
Sultan Ahmed bin Sulayem, chairman and CEO of DP World, said the Syrian economy holds significant potential, with the port of Tartous offering opportunities for the transportation and export of various Syrian products.
The agreement follows a memorandum of understanding signed between the two sides in May. ■
