Revenue grown ‘against all odds’ to over $600m in H1 2016, says Bin Sulayem
DP World chairman Sultan Ahmed Bin Sulayem has backed the US President Donald Trump’s view on free trade, saying it has been “utterly misunderstood”.
On Monday, Trump signed an executive order withdrawing the US from the Trans-Pacific Partnership, a trade deal that the Obama administration has worked on for several years.
The partnership is primarily aimed at bolstering trade ties between the 12 Pacific Rim countries that account for 40 percent of global gross domestic product, worth $27.4 trillion (AED100.56 trillion).
“There’s utter misunderstanding of Mr Donald’s statements around free trade. As a businessman he definitely knows the significance of trade and its role in developing the world economy,” Bin Sulayem told Sky News Arabia.
“Trump talked about fair trade which necessitates the opening of all markets without expectations under fair terms. This perspective should be adopted and accepted by everyone,” he added.
DP World is also holding talks with the Chinese government for more cooperation to fulfil the requirements of “One belt, One Road” initiative, framed to support ties between China and the rest of Eurasia, Bin Sulayem said.
The chairman revealed company’s revenue has grown “against all odds”, crossing over $600 million (AED2.2 billion) in the first six months of 2016. The total revenues for last year will be announced in March.
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