The Virginia Port Authority and China’s Ningbo Municipal Port Administration signed a memorandum of understanding this week to promote the all-water route between the two ports.
The agreement laid down plans for cooperation on marketing activities and market research, as well as exchange of information, technology, modernization details and training. It was signed by Russell J. Held, the VPA’s deputy executive director, and Chang Boaping, deputy director general of the Ningbo Municipal Port Administration Bureau.
“China has been Virginia's No. 1 trading partner for many years and having these kinds of agreements in place will help strengthen our relationship with that country,” said Rodney W. Oliver, the VPA’s interim executive director, in a written statement.
“Today we enjoy six weekly services between Ningbo and the Port of Virginia via both the Panama and Suez canals,” Held added. “Our goal with this MOU is to share operational best practices, jointly market our good service connectivity and drive investment and business growth on both ends of the supply chain.”