UAE's major port operator seeks benefits from China's belt and road initiative

World's leading port operator in the United Arab Emirates (UAE) said on Sunday it is ready to expand business in China under its "Belt and Road" initiative.

Sultan Ahmed Bin Sulayem, chairman and chief executive of Dubai Ports (DP) World, the world's third biggest maritime port operator in terms of assets, made the remarks while addressing local and international media representatives at DP World's annual media meeting here in Dubai.

The senior business chief noted in his speech that the DP World is currently running three port terminals in Tianjin as well as in Yantai and Qingdao, adding that the company's plan to expand existing ports in Asia would take China's belt and road initiative into account as it bears huge potential for trade across Asia.

DP World is also ready to enlarge its operations in Russia and Iran, he said, adding that linking East Asia through Central Asia with the Middle East through railway projects would be an opportunity for his company to expand port operations and investments along the Silk Road Economic Belt and the Maritime Silk Road.

He also said the firm's growth is good in China, and is interested in expanding the terminal in Tianjing, noting that the decision to invest will be made if there is demand.

The UAE supports China's belt and road initiative and the Gulf Arabian state, a major oil supplier, is one of the founding member states of the China-proposed Asia Infrastructure Investment Bank, or AIIB. Enditem