Rotterdam continues to expand its links with Asia after agreeing to work with the Bank of China on a number of initiatives to boost trade.
The Bank of China and the Port of Rotterdam Authority said they intend to work together on the further strengthening of relations between the two nations.
This intention was formalised in a Memorandum of Understanding signed earlier this week in Rotterdam by Bank of China Shanghai RMB Trading Unit president Dong Weijian and Port Authority of Rotterdam chief executive Allard Castelein.
“This collaboration will allow the partners to support each other in identifying, attracting and developing business opportunities in, among other areas, logistics, containers, shipping and rail infrastructure,” said the Dutch port authority.
Castelein will be taking part in the Dutch state visit to China being undertaken later this year by King Willem-Alexander.
The port authority says this strategic partnership mainly focuses on the Chinese government’s ‘One Belt, One Road’ strategy.
“In 2013, China started advocating the idea of a new Silk Road; a historical reference to the old trade route between Europe, the Middle East and Asia,” it said.
“Public and private sector parties in China are investing in, among other things, logistics infrastructure that is intended to further strengthen the country’s ties with emerging economies in Eurasia and Europe.
“This network of connections over land and sea – as well as financial systems, for example – is symbolised in the phrase ‘One Belt, One Road’. The Port of Rotterdam sees a role for itself in this network as a key logistics hub.”
Among other things, the alliance between the Port Authority and Bank of China will include the exchange of ideas in the field of investment, and making it ‘easier to do business’ by taking optimum advantage of one another’s expertise and network.
In addition, both parties say they intend to jointly attract new investments that will result in an increase in trade volumes and greater transparency in the various logistics chains.
