UAE port operator the AD Ports Group and the Economic Development Board of Madagascar have entered into a memorandum of understanding (MOU) regarding the identification of commercial opportunities across the maritime, industry, and logistics sectors in Madagascar.
Under the terms of the MOU, both entities will focus on key areas of cooperation and mutual interest, including but not limited to the development of economic cities and free zones, ports, marina and cruise port facilities, digitalisation of logistics and maritime related services, and development of a maritime academy.
The memorandum also aims to explore the development of the fisheries sector in Madagascar, including monitoring and enforcement of sustainable fisheries rules and regulations, infrastructure development of integrated fisheries, harbours and marinas, as well as fostering innovation and technology adoption across the domestic fisheries sector.
Both parties will establish a joint working group to oversee the implementation of the projects, focusing on the development of initiatives, investments, and opportunities in the agreed areas of cooperation.