AD Ports Group and Economic Development Board of Madagascar sign MoU

AD Ports Group, one of the world’s leading facilitators of global trade, logistics, and industry, and the Economic Development Board of Madagascar have today signed of a Memorandum of Understanding (MoU), to explore a dynamic partnership focused on bolstering commercial opportunities across maritime, industry and logistics sectors in Madagascar, according to the company's release.

Under the terms of the Memorandum, both entities would focus on key areas of cooperation and mutual interest, including but not limited to the development of economic cities & free zones, ports, marina and cruise port facilities, digitalisation of logistics and maritime related services, in addition to the development of a maritime academy. Furthermore, the memorandum 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 fisheries sector in Madagascar.

A joint working group would be established by both parties to oversee the implementation of the projects, focusing on the development of initiatives, investments, and opportunities in the agreed areas of cooperation.