Dubai Maritime City (DMC) Authority, the world's first purpose-built maritime city and a member of Dubai World, has signed a memorandum of understanding (MoU) with Confitarma, the Italian Ship Owners' Association, to promote the growth of the maritime industry in Dubai and Italy.
The agreement, which calls for "synergic co-operation" between the two parties, was signed in the Italian city of Genoa at the "48 ore del mare" conference. Under its provisions, the two parties will jointly facilitate the exchange of ideas, know-how and policies that promote mutual growth and help in consolidating the global maritime industry.
They will also explore new forms of co-operation in areas including advanced services for the shipping industry, while collaborating in the development of new investments.
"DMC Authority is pleased to sign this agreement with Confitarma, an organisation that we value as a critical ally in our pursuit of global growth and excellence," said John Ewing, Chief Commercial Officer of DMC.
"This partnership delivers a strategic gain for Dubai as our Italian counterparts have a very dynamic shipping industry, which serves as a critical link to European markets. Moreover, this will be another opportunity to showcase the unprecedented development concept and the state-of-the-art facilities within Dubai Maritime City."
Ewing said: "We are delighted with the enthusiastic response of Confitarma to this initiative. The Italians have been greatly impressed with the highly innovative concept of DMC, which has been designed to provide all the requirements of the international maritime industry, including a full range of industrial, commercial, residential and leisure facilities."
The MoU was signed by Ewing on behalf of DMC and by Nicola Coccia, president of Confitarma.
The Italian firm promotes the growth of the Italian merchant marine fleet under a policy that exploits the full potential of maritime transport, representing the shipping industry in dealings with political and administrative authorities, as well as with any public or private bodies on both the national and international levels.
It also defends the interests of its members with regard to labour-union and economic issues of both general and specific interest.
"We believe that the signing of this MoU is another step of Confitarma towards the internationalisation of the Italian shipping industry. Italy has a strong and dynamic shipping sector and could provide DMC with the expertise needed in the realisation of its ambitious project. Simultaneously, Italian ship-owners will find in Dubai an excellent location for doing business with fast growing markets such as India, China and the Far East, and benefit from the fantastic logistic facilities," Coccia said.
He added that the pact was the result of groundwork done by the Young Ship-owners Group, headed by its president Giuseppe Mauro Rizzo, who visited Dubai in May during an official mission to the UAE and India.
The Maritime City has been designed with the requirements of the global maritime industry in mind. On completion, the multi-purpose maritime complex will feature the Harbour Offices, Harbour Residences, the Maritime Centre, Dubai Maritime City Campus, a Marina District, and the Industrial Precinct managed by Drydocks World – Dubai.
The DMC will also offer investors a wide variety of incentives such as free-zone benefits, government support, a tax-free business environment and an effective port structure.