DP World, the Dubai-based global marine terminal operator, says it has signed a memorandum of understanding with the state-run Taiwan International Ports Corporation (TIPC) to develop Kaohsiung Port’s Terminal 7.

The agreement marks the beginning of a joint effort to seek future business opportunities and to steer growth in Taiwan’s port infrastructure. The deal will also enhance the Asian country’s trade potential by establishing seamless cargo movement across its supply chain, DP World said in a statement.

Kaohsiung Port enjoys a geographical advantage due to its natural harbour, the marine port operator added. It was once among the world’s top container ports.

“We look forward to bringing our expertise and experience to the development of Taiwan’s economy. It is commendable how TIPC and the Taiwan government are committed to planning and steering the country’s economic growth, building a better future for generations to come,” said Sultan Ahmed Bin Sulayem, DP World Group chairman and CEO.

“Our strategy in developing in strategic locations where our customers want us to be, serving global trade and being able to handle the new generation of ultra large vessels shows how we are investing in the future, translating our vision into reality.”