DP World and the government of Angola have signed a preliminary agreement to work together to develop the country’s trade and logistics sector.

The memorandum of understanding, signed in Luanda this week, paves the way for the parties to cooperate on the development and expansion of ports and terminals, with their associated concessional tax zones and logistics parks. Alongside that, DP World will explore the finance and facilitation of trade and marine services.

DP World began a 20-year concession at Luanda’s Multipurpose Terminal last March. Since then, it has modernised the port’s equipment, facilities, training and technology as part of a $190m initial investment.