BAKU, Azerbaijan, June 23. Dubai Port World Company (DP World) from the UAE and Abu Dhabi Uzbek Investment Company signed an agreement to establish a joint venture, Trend reports.
The joint venture aims to enhance access to global markets for Uzbekistan's exporters and importers, with a focus on developing e-commerce capabilities.
In Uzbekistan, DP World, in collaboration with Abu Dhabi Uzbek Investment, will be engaged in developing modern logistics infrastructure in free economic zones and the advancement of e-commerce.
Following the agreement with Dubai Port World, the investments of Abu Dhabi Uzbek Investment in Uzbekistan's economy have reached $170 million.
Abu Dhabi Uzbek Investment, established through a decree by President Shavkat Mirziyoyev, involves the Uzbekistan Reconstruction and Development Fund and the Abu Dhabi Development Fund. The purpose of the organization is to strengthen bilateral cooperation between the two countries.
DP World is one of the world's largest port operators. The company is under the management of Dubai World, which is owned by the UAE government. DP World facilitates 10 percent of global trade through its global network of ports and terminals, free economic zones, hubs, and maritime services.