Ukraine and Egypt Agree Ports Partnership

The Ukrainian Sea Ports Authority (USPA) has signed a Memorandum of Cooperation (MoC) with the Egyptian port authorities of Alexandria and Damietta, according to a statement.

The signing of the MoC was held at the Seventh Meeting of the Intergovernmental Joint Commission on Economic, Scientific and Technical Cooperation between Ukraine and the Arab Republic of Egypt, which took place in Kiev.

As part of the agreement, USPA plans to establish a bilateral working group with shipping lines, traders and port operators in Egypt to discuss the implementation of joint projects.

In addition to this, the MoC allows for an exchange of information and experience in the field of port modernization, as well as mutual assistance for shipping companies, importers, exporters and forwarders working between the countries.

Igor Tachuk, Head of the Odessa Seaport Authority, commented: “The Port of Odessa has a great experience of cooperation with the ports of Egypt.

“The cargo turnover between our ports is more than 4.5 million tons per year. More than half of these cargoes are exports of agrarian products from Ukraine.

“The signing of the Memorandum will be an additional stimulus and a basis for the further development of bilateral cooperation.”

HE Dr Sahar Nasr, Minister of Investment and International Cooperation of the Arab Republic of Egypt, also noted that Egypt welcomes the intensification of dialogue and cooperation with Ukraine both at the interstate and sector levels.