Adani Ports joins hands with France’s largest port
Adani Ports and Special Economic Zone Limited (APSEZ) and France’s leading port Marseille Fos signed a Memorandum of Understanding (MoU) on Wednesday. Its objective is to ease trade, bring new technology to the port and promote the energy sector. IMEC Ports Club will be formed under this partnership. Its objective is to create better coordination and connectivity between the major ports of the India-Middle East-Europe Economic Route (IMEC). This will further strengthen trade between India and the European Union. This corridor has also been promoted by the India-Europe Free Trade Agreement (India-EU FTA).
Proposal to form IMEC Ports Club
At the eastern end of IMEC, APSEZ’s Mundra and Hazira Ports form a multimodal logistics hub connecting South Asia with West Asia. Through this MoU, Marseille Fos will strengthen the western edge of Europe. This will add approximately 70 million tonnes of additional capacity and extend IMEC’s network deeper into Europe.
Marseille Fos is one of the largest multimodal ports in Europe. This partnership will lead to better planning in India-Europe trade. Under this, the IMEC route will be promoted as a safe and sustainable option through joint campaigns, international trade fairs, roadshows and B2B programs.
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Trade will increase manifold
APSEZ CEO Ashwani Gupta said that India has taken the lead in taking forward this corridor and trade is expected to increase manifold after the India-EU FTA. He said that Mundra and Hazira Ports have already connected the first and middle stages and with Marseille Foss it will also connect the last stage to Europe. This will speed up the exchange of information and goods between all countries and strengthen economic cooperation and supply chains.
Hervé Martel, CEO of Marcelli Fos, said that this partnership comes at an important time. India and Marseille are at two ends of the corridor, and both ports have a responsibility to make this place strong and sustainable. Both ports together will connect other connected ports and work for a better connection.
