Gulftainer’s new Canaveral Cargo Terminal at Port Canaveral in Florida, opened for business with a major launch ceremony.

The new cargo terminal opening comes one year after Canaveral Port Authority signed a 35-year agreement with GT USA, the US arm of UAE-based global ports and logistics company Gulftainer, to operate and further develop the container and multipurpose cargo terminal.

GT USA, which has established its headquarters at the Canaveral Port Authority offices, expects to contribute more than $630 million to the local economy, creating 2,000 direct and indirect jobs when fully developed.

Yousef Al-Otaiba, ambassador of the UAE to the United States; Lana Nusseibeh, permanent representative of the UAE to the United Nations; Ambassador Vinai Thummalapally, executive director of the international trade administration of the US Department of Commerce; and Richard Biter, assistant secretary of the Florida Department of Transportation attended the ceremony.

Canaveral Port Authority Commission Chairman Jerry Allender said: “The UAE and the United States have fostered great partnerships in trade, culture, and education. Today represents one example of our nations’ great partnership.”

Yousef Al-Otaiba said: “The UAE-US trade has grown almost 80 percent since 2005. In fact, last year the US benefited from a $19 billion trade surplus with the UAE.”

GT USA is part of Gulftainer’s strategic vision to triple its global cargo capacity in the next ten years across five continents. The company is a subsidiary of UAE-headquartered multinational Crescent Enterprises, which is also active in a number of other industry sectors.

Badr Jafar, CEO of Crescent Enterprises and chairman of Gulftainer’s executive board, said: “Container shipping is a $6 trillion industry that touches 95 percent of the world’s manufactured goods, and we are determined to bring much more of that business to Port Canaveral in the months and years to come.”