Hutchison Port Holdings Trust (HPH Trust) and Guangxi Beibu Gulf International Port Group Company Limited (Beibu Gulf Port Group) have signed a memorandum of understanding (MoU) to promote trade and economic exchange between Guangxi and Hong Kong.
The companies are positioning the agreement as a first of its kind partnership which will develop the Guangxi-Hong Kong Sea-Rail Intermodal Channel, and accelerate Guangxi-Kwai Tsing-Yantian collaboration.
The partners aim to leverage each region’s strength to accelerate growth of the Guangdong-Hong Kong-Macao Greater Bay Area and the Beibu Gulf economic zone. The Beibu Gulf Port will be utilised as a vital link connecting the northwest region over land, and the Guangdong-Hong Kong-Macao Greater Bay Area via sea.
Trade between the regions will be smoothed through the use of complementary routes and customs clearance improvements between Hong Kong and Yantian Port in Shenzhen to facilitate transshipment between the Beibu Gulf Port and Hong Kong.
Ultimately, the companies hope to establish a seamless trade route connecting Asia to North America, Europe, and other regions.
This sea-rail intermodal channel envisioned under the MoU is referred to as the "Western-Beibu Gulf-Hong Kong(Kwai Tsing)/Yantian-Destination route”.
The agreement was signed at a ceremony attended by government officials, Pan Xiaobin, deputy general manager of Guangxi Beibu Gulf International Port Group Co., Ltd, and Ivor Chow, CEO of Hutchison Port Holdings Trust.
Ivor Chow, Chief Executive Officer of Hutchison Port Holdings Trust, said: “We are delighted to co-operate with Beibu Gulf Port Group as we capitalise on the unique strengths of both ports to enhance our overall competitiveness, thereby reinforcing the development of Hong Kong as an international transshipment hub.”
A Beibu Gulf Port Group spokesperson added: “This memorandum of co-operation symbolises our commitment to support Guangxi in establishing the ‘One Zone, Two Cities’ model and building it into an important strategic hinterland of the Guangdong-Hong Kong-Macao Greater Bay Area.”
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.  |
