Arab Finance: The Alexandria Port Authority and the Port Authority of Montenegro signed a memorandum of understanding (MoU) to strengthen cooperation in maritime transport, port operations, and logistics, as per a statement.
The MoU establishes a framework for cooperation in port management and operations, digital transformation, capacity building, environmental sustainability, and the exchange of expertise.
The two authorities will also explore opportunities to establish maritime links between Egyptian and Montenegrin ports to support supply chains and promote bilateral trade and investment.
Both sides said Egypt’s location on the Mediterranean Sea and Montenegro’s position on the Adriatic Sea could support closer maritime links between European markets and the Middle East and North Africa.
Furthermore, the agreement forms part of the Alexandria Port Authority’s efforts to broaden its international partnerships, facilitate technology transfers, and improve the efficiency and competitiveness of Egyptian ports. It also comes amid Egypt’s ongoing development of port infrastructure and logistics services as part of plans to strengthen the country’s role in transport, logistics, and transit trade.
