en.Wedoany.com Reported - The Riga Free Port Authority of Latvia and the UAE's AD Ports Group signed a memorandum of understanding in Riga, establishing a cooperation framework in areas such as port development, logistics, industrial projects, and digital solutions.
The agreement was signed at the office of the Investment and Development Agency of Latvia, attended by Latvian Minister of Economics Viktors Valainis, AD Ports Group Regional CEO Abdulaziz Zayed Al Shamsi, as well as representatives from port companies, the UAE Embassy, and the management teams of both organizations.
AD Ports Group, listed on the Abu Dhabi Securities Exchange, operates in over 50 countries and reported annual revenues of 4.8 billion euros in 2025, with total assets of approximately 16 billion euros. The company manages an integrated portfolio spanning ports, industrial zones, logistics networks, and digital solutions.
The memorandum of understanding identifies several specific development areas for joint work within the Port of Riga, including port infrastructure development and investment, promotion of new ro-ro and cruise passenger terminals, advancement of the Kundziņsala Industrial Zone and wind power technology production complex, development of the Spilve Industrial Park, modernization of the port's digital systems (covering port community systems, single window implementation, and digital customs solutions), and identification of new investment projects through preliminary studies.
Abdulaziz Zayed Al Shamsi views the Baltic region as a strategically important gateway to Northern Europe and considers Latvia's maritime industry strength, industrial development ambitions, and growing economic ties with the UAE as a solid foundation for a long-term partnership. Sandis Šteins, Chairman of the Board of the Riga Free Port, noted that AD Ports Group's expertise in port management, logistics zone operations, digitalization, and cruise business represents significant potential areas for knowledge transfer and investment attraction. Latvian Minister of Economics Valainis stated that the memorandum of understanding is a direct result of diplomatic and business engagement with AD Ports Group leadership, with discussions he initiated during his visit to the UAE now progressing into a concrete cooperation framework.
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