COSCO signs strategic agreement with Shandong province

COSCO Group signed a framework agreement for strategic cooperation with Shandong province. The signing of the agreement was witnessed by Secretary of CPC Shandong Committee Jiang Yikang, Governor of Shandong Province Jiang Daming, Vice-governor Wang Junmin and other leaders of the People's Provincial Government of Shandong.

Attending the ceremony from COSCO included Chairman Wei Jiafu, President Ma Zehua, Executive Vice-president Sun Jiakang and other senior executives from COSCO's head office and subsidiaries in Shandong. The agreement was signed respectively by Shandong Vice-governor Wang Junmin and COSCO Group President Ma Zehua.

According to the agreement, COSCO will expand its cooperation with Shandong in respect to shipping, terminal, logistics, shipbuilding and ship repair, energy and mining resources, transportation infrastructure, maritime education as well as maritime culture. Being a key economic, agricultural, and demographic province, Shandong is China's third largest province in terms of economic scale.

The establishment of a strategic cooperative partnership between COSCO and Shandong will on one hand benefit COSCO Group's core business developments, and on the other hand will benefit Shandong with regards to developing its regional economic advantage, promoting its maritime economy and stepping up its process of building a stronger economy and culture. Relying on the solid foundations built in the long cooperation between COSCO and Shandong, it is expected that the agreement will bring fruitful results to both parties involved. <Korea Shipping Gazette>