The agreements provide a comprehensive exchange of information, joint assistance of shipping companies, importers, exporters and forwarders, exchange of experience in the field of modernization of the port infrastructure, improving the quality of servicing vessels, development of IT services and technologies.

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In addition, a joint working group will be created, which will have representatives of the USPA and the authorities of the Egyptian ports as members, as well as shipping lines, traders, port operators. The working group's task will be to discuss the implementation of joint investment projects and increase cargo turnover between the countries.

The Minister of Investment and International Cooperation of the Arab Republic of Egypt, HE Dr. Sahar Nasr welcomed the intensification of dialogue and cooperation with Ukraine, as it concerns the interaction between the ports of Ukraine and Egypt.

Head of Odessa branch of the USPA, Igor Tkachuk, commented:

The port of Odessa has a great experience of cooperation with the ports of Egypt. The cargo turnover between our ports is more than 4.5 million tons per year. More than half of these cargoes is export of agrarian products from Ukraine. The signing of the Memorandum will be an additional stimulus and a basis for the further development of bilateral cooperation.

The Port of Alexandria's annual turnover is 15 million tons, accounting for about 80% of the total volume of foreign trade in Egypt.

Port Damietta is located on the Mediterranean coast, 200 km east of Alexandria. It has terminals for general and bulk cargo and its capacity for handling grain has increased to 7.5 million tons. It also has an LPG plant, a container terminal and a mineral fertilizer plant.