Gulftainer and GT US have high hopes for this new relationship and port facility. In the next ten years, their parent company, Crescent Enterprises wants to expand Gulftainer’s services to five continents and ultimately triple its global cargo capacity. Badr Jafar, CEO of Crescent Enterprises, believes that this new port has the potential to become a world-class, international cargo terminal. In doing so, this facility will act as a catalyst for growing the company, the local economy and the UAE-US trade relationship.
This agreement between Gulftainer and the Canaveral Port Authority is continuation of the developing and prosperous relationship between the UAE and the United States. Estimates show that the new port facility will create an influx of opportunity and growth for the local economy in Florida. Through the creation of over 2,000 jobs and an economic boost of approximately $630 million, this new collaboration illustrates the potential for the UAE and the US to explore new areas of partnering.
More than 300 public officials attended the opening ceremony including Ambassador Yousef Al Otaiba. During the ceremony, the Ambassador spoke about the success of the UAE and US’s economic relationship. In the last 10 years, Ambassador Al Otaiba stated that there has been an 80 percent increase in trade between the two countries. This increase has created a $19 billion trade surplus for the US and has made the UAE-US trade partnership one of the biggest markets for US goods and services in the Middle East region.
The United States and the UAE have created a relationship that spans the areas of trade, education, arts and culture. This new deal between Gulftainer and the Canaveral Port Authority represents how countries can work together to create a strong, dynamic and beneficial partnership.