Orna Hozman-bechor, Chairperson of the Board, Ashdod Port Company
The peace treaty with the Emirates presents Israel with great
economic potential, which depends upon successful and open collaboration
between the parties. Moreover, as in any good business partnership,
both parties in this instance bring complementary attributes to the
table: Israeli technology, knowledge, and entrepreneurship partnered
with the United Arab Emirates’ capital, resources, regional influence,
and a strong interface between west to the east. The sea transportation
and ports industry, which constitutes 98% of all shipments of
merchandise worldwide, is an excellent example of the economic potential
that is inherent in the peace treaty. The relationship between Israeli
ports and the ports and shipping company’s of the UAE is a powerful
economic meeting point that also creates a geopolitical advantage for
the countries.
In my opinion, the real test of any initiative is its ability to reap
economic fruits over time for the benefit of Israel’s general
population. Collaboration and mutual investments by the Israeli and UAE
seaports meet the definition of sustainable economic fruits and the best
interest of the entire Israeli economy and public. Consequently, every
effort must be made to prioritize this subject.
If we take the Ashdod Port as an example, we see that currently,
the company is completing its readiness to open the competitive market.
The port has adopted standards of advanced business management and is
making an enormous investment of NIS 2.4 billion in the Port’s
infrastructure and development. The Board of Directors has identified
the field of technological innovation as the key to successfully coping
with the challenges of the future and is promoting the operation of a
technological incubator for startups that are developing creative
solutions.
These steps serve as strong infrastructure for
collaboration between the Ashdod Port and the UAE’s giant shipping and
seaport companies, as well as the development of economic opportunities
that also have broad national significance.
The fact that the ports of the United Arab
Emirates serve as a juncture for sea transportation between east and
west will enable the Ashdod Port to benefit from future collaborations
that will shorten the delivery time for merchandise, reduce the cost of
consumer goods and even lead to the expansion of business activity at
the Port. This is good news for the entire economy which will impact
every household in Israel.
However, we must remain cautiously optimistic. As is well
known, there are no free lunches. Since the groundbreaking peace treaty
with the United Arab Emirates, dozens of economic and business projects
have been announced in the fields of trade, banking, security, and
technology, which promise significant deals that will inject ‘billions’
into the economy.
In order for all of us to succeed in taking
advantage of the economic potential of this peace treaty, we must
implement a long-term, transparent, intelligent, and strategic business
strategy with the UAE. We are not familiar with the way people do
business there, so we must remain modest, respectful, and work
transparently. In this way, we can build trust and appreciation between
the two parties. Only in this way can we all benefit from the fruits of
the peace, both Israel and the United Arab Emirates.