AHMEDABAD: Nation's leading private port operator, Adani Port
SEZ (APSEZ), today inked a MoU with the US based Port of Baltimore for trade facilitation.
The MoU was signed here between APSEZ Director Malay Mahadevia and Port of Baltimore Director Maritime Commercial Management Michael W Miller.
"With this MoU, Mundra and other Adani group owned ports shall benefit in terms of technology upgradation or transfer from the US, which has been a leader in this sphere," APSEZ Director Malay Mahadevia told reporters.
"It would also facilitate trade between Adani group owned ports and Baltimore as the bilateral trade between the two countries grows," he said.
"It is the first ever MoU signed by us in India," Miller said, who is part of a trade mission headed by US Under Secretary of Commerce and International Trade Francisco Sanchez, on a vist to India.
Port of Baltimore, is amongst the 15 major ports of the US, handling around 30 million tonnes of public and private cargo, besides 400,000 containers annually.
"The two way trade between India and US stood at USD in 2010 stood at 49 billion and it grew to USD 58 billion in 2011, and we expect an upward trend to continue in 2012, Sanchez said.
Infrastructure is an important element of trade expansion, so ports are significant when the two way trade is increasing between the tow countries, he said.
"My visit is scheduled to be followed by the visit of my boss US Secretary of Commerce and International Trade to India next month, which underscores the growth potential in India," Sanchez said.
Over 65 cities in India are expected to have million plus population by 2030, which speaks of the termendous opportunity for the US companies to bring technology for waste water management, smart grid, among others, he said.
Source : economictimes.indiatimes.com