Tianjin and Busan establish port logistics cooperation relationship

On July 25th, Tianjin held a forum on transportation and logistics cooperation with Busan, South Korea. The agreement signed by both sides to establish an exchange and cooperation relationship marks a new stage of development in the friendly cooperation between the two cities.

This year marks the 15th anniversary of the establishment of diplomatic relations between China and South Korea. China and South Korea are geographically adjacent, with rapid and strong economic and trade development. In recent years, the economic and trade cooperation between Tianjin and South Korea has become increasingly close. In 2006, the trade volume between Tianjin and South Korea reached 11 billion US dollars, and South Korea invested in more than 2600 enterprises in Tianjin, with an actual investment of about 3 billion US dollars.

The economic and cultural exchanges between Tianjin and Busan are becoming increasingly close. The governments of Tianjin and Busan have signed an agreement to strengthen cooperation between the two ports, and cooperation in transportation and logistics has entered a new stage of development. Especially in terms of port cooperation, both sides have a special and close cooperative relationship. At present, there are more than 10 shipping routes connecting two ports, and in 2006, the container volume between ports exceeded 600000 TEUs.

In the forum, representatives from both sides expressed that with the increasingly close economic and trade exchanges between China and South Korea, especially the inclusion of Tianjin Binhai New Area in the overall national development strategy layout, the flow of goods between Tianjin Port and Busan Port will continue to increase rapidly. Strengthening logistics cooperation between the two ports, improving logistics operation efficiency, and reducing logistics costs are of great significance for promoting economic and trade cooperation and development between China and South Korea, and enhancing the economic competitiveness of Northeast Asia. Promoting the development and opening up of Binhai New Area has provided a broader stage for economic and trade cooperation between China and South Korea, and created good opportunities for cooperation between the two cities.

According to the agreement signed by both parties, Tianjin and Busan will strengthen exchanges and cooperation in the field of port logistics based on the principle of equality and mutual benefit, and expand cooperation between the ports of the two cities in exchanging information, technical cooperation, and management experience; Strengthening cooperation in the development, investment, and application of cutting-edge technologies to address security issues in international container transportation; Both parties shall open contact windows and communication platforms, establish contact channels, and regularly communicate information.