Emirati-Saudi relation climbs a notch up: DP World to operate Jeddah Port
The United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) are the key economic players in MENA (Middle East and North African) region, dominating a large part of its imports and exports. This alliance was forged in wake of Arab Springs in 2011 with common aim of ensuring domestic stability and of regime as well.
In 2016, Saudi-Emirati Coordination Council was formed that led to formulation of Al Azam Strategy – a vision for increasing economic and military cooperation.
DP World to operate Jeddah Port
This alliance has further been bolstered and intensified through a new partnership between Abu Dhabi and Riyadh. According to the KSA’s port authority which has invited the media for official signing of agreement on June 19, Dubai’s DP World will operate a logistics park at the Jeddah Port of Saudi Arabia. DP World, which is owned by the government of Dubai and is one of the world’s largest port operators, already is in charge of operating a container terminal in Jeddah Islamic Port where the said park will be located.
Jeddah Islamic Port per year can handle 2.4 million shipping containers and is the main import destination for the kingdom, as mentioned in DP World website for the port.
UAE-Saudi cooperation post Arab Spring
After 2011, the shift of Gulf politics towards UAE-Saudi axis was focused on limiting and curbing the impact of the protests on the Gulf nations. Led by close alliance between de facto rulers Crown Prince Mohammed bin Salman (MbS) and Abu Dhabi Crown Prince Mohammed bin Zayed (MbZ), the nations coordinated their financial and military power in the region.
The numerous initiatives included “imposing an embargo against Qatar in 2017, lobbying against the Iran nuclear deal and in favor of the Trump administration’s “maximum pressure” campaign, launching a military intervention in Yemen, adopting an adversarial posture toward Turkey, collaborating to broker a peace deal between Ethiopia and Eritrea, and furnishing Sudan with aid and investment”.