Collaboration Between AD Ports Group and Kuwait General Administration of Customs will further facilitate cross-border trade
AD Ports Group recently announced the signing of a Memorandum of Understand (MoU) with the Kuwait General Administration of Customs to establish a new virtual trade corridor between the UAE and Kuwait, under the supervision of Department of Economic Development – Abu Dhabi (ADDED).
The signing took place in Kuwait following a visit by DED’s Logistics Committee, under the auspices HE Abdulwahab Al-Rushaid, Minister of Finance and Minister of State for Economic Affairs and Investments – Kuwait and in presence of HE Dr. Matar Hamed Al Neyadi, Ambassador of the UAE to Kuwait, and was signed by Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, and Suleiman AbdulAziz Al-Fahd, Director of the General Administration of Customs, Kuwait.
The MoU builds on existing cooperation between the UAE and Kuwait. Under its terms, Maqta Gateway, AD Ports Group’s digital arm will develop the new virtual trade corridor based upon its Advanced Trade & Logistics Platform (ATLP), under the supervision of the Department of Economic Development- Abu Dhabi, establishing new policies, procedures and systems integrations to support a virtual trade corridor that will further simplify and facilitate cross-border trade.
With the establishment of the new virtual trade corridor and implementation of integrated solutions, customs authorities in both countries will be able to access pre-arrival information for international cargo movements, making cross-validation of information significantly faster and promoting pre-clearance of goods.
The MoU will also provide for accelerated procedures for expediting shipments of perishable goods, reducing dwell time at borders.
The digital integration also has significant safety and security benefits, improving visibility for authorities over any possible risks associated with goods that move between the two nations, as well as reducing the inspection rate and simplifying procedures for authorisation holders.
Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!
