Two parties sign MoU to help promote trade, identify joint initiatives, and promote research and innovation
Dubai, United Arab Emirates - 15 June 2019: Dubai Maritime Cluster Office (DMCO) of Dubai Maritime City Authority (DMCA) has joined forces with the Irish Maritime Development Office (IMDO) to further boost the maritime collaboration between the two as both work towards strengthening their respective maritime industries by building a smart, vibrant, and sustainable maritime platform of cooperation for maritime operations and businesses.
The cooperation is the latest in a string of strategic partnerships of DMCA with international maritime bodies and organizations as part of its bid to create a reliable and vibrant maritime community capable of driving Dubai's economic development and sustainability in line with the objectives of Dubai Plan 2021.
Under the MoU, DMCO and IMDO will jointly promote trade across global infrastructure and maritime spectrum as well as identify mutually beneficial initiatives in key maritime areas. Both parties agreed as well to work together on open innovation-based initiatives and programs. Additionally, they will jointly embark on promotional and networking efforts during local and international trade events, conferences, and events to facilitate new cooperation between organizations, promote increased trade, enhanced connectivity, and present their respective competitive edge and advantages.
Other critical areas covered by their latest cooperation include mutual referral of business opportunities in each party's fields of specialties; research activities establishing the socio-economic benefits of a sustainable maritime industry at the national and international levels; identification of reciprocal investment opportunities for Irish and Dubai maritime companies; knowledge sharing and exchange of best practices and expertise.
Liam Lacey, Director of the Irish Maritime Development Office, said: “The IMDO welcomes the opportunity to work with the DMCA and looks forward to cooperating and collaborating with the DMCA to the benefit of both our maritime economies.”
Amer Ali, Executive Director, DMCA, said: “Our strategic collaboration with IMDO is an opportunity for us at DMCA and Dubai Maritime Cluster Office to further foster innovation and research in Dubai's maritime community as well as continuously implement enhanced global best maritime practices.” The MoU is also expected to pave the way for the cultivation of stronger relationships between DMCA and Irish maritime companies and other relevant bodies. It will also be an opportunity for Irish companies to explore ways to better position themselves to work with DMCA and DP World as well as learn more about the Authority's functions and its upcoming projects that will help open up new forms of international coordination.
“Through this collaboration, Dubai will benefit from Ireland's vibrant knowledge and innovation economy as well as world-class business eco-system, particularly in emerging sectors such as deep tech, artificial intelligence, big data, and blockchain. Our ties will help accelerate our efforts to build a vibrant and safe maritime environment and will be instrumental in enhancing Dubai's position as a leading center of maritime sectors worldwide. Our cooperation is especially relevant as Ireland bids to become an International Shipping Services Centre (ISSC), a major urban regeneration scheme with appropriate commercial, residential, and cultural amenities, which, if realized, can brought forth immense benefits to Dubai and the UAE,” Ali said.
He added: “Conversely, the country will have a strategic advantage of learning about the intricacies and uniqueness of the maritime sector in Dubai and the UAE, providing them access to substantial local growth opportunities, fueled by national initiatives in accordance with Dubai Vision 2021. Recognized for its reliability, inclusiveness, and leadership, Dubai is the center of maritime excellence at the local, regional, and global levels as it continues to attract investors from different parts of the world.”