“Baku International Sea Trade Port” JSC has signed a memorandum of understanding with Qingdao Port, one of the largest ports in China. The main purpose of the memorandum is to attract a larger volume of transit cargo flow through the “Middle Corridor” passing through Azerbaijan, to form and develop mutually beneficial cooperation between the mentioned ports.
It should be noted that Qingdao Port, a member of the Shandong Port Group, built China’s first fully automated container terminal, where all loading is carried out without human intervention. With the help of artificial intelligence and 5G technologies applied in loading, the port handled 26 million TEU containers last year. Qingdao Port is the 3rd largest port in China by handling capacity. Shandong Port Group, which includes Qingdao Port, is the fastest growing international company in China and beyond. This group of ports, which has a significant share in cargo transportation to China, Central Asia and Europe, handled a world record of more than 1.6 billion tons of cargo annually in 2022, and this figure is increasing every year. Moreover, this group of ports handled more than 37 million TEU equivalent containers last year and was the 3rd largest container handling port in the world.
According to the terms of the memorandum signed with Baku Port and Qingdao Port, the parties will cooperate in the field of application of best practices, digital solutions, sustainability and technologies, using modern solutions in the field of organization of port work and relations with business partners. At the same time, it is planned to carry out mutual visits and experience exchanges between the ports for the purpose of learning modern knowledge and skills. Note that. According to the memorandum of understanding, it will be possible to transport goods from Japan and South Korea from Qingdao Port through Azerbaijan through the “Middle Corridor”.
It should be noted that the delegation led by Mr. Li Fengli, Chairman of the Board of Directors and General Director of Shandong Port Group, is on a business trip to Azerbaijan on April 16-18, 2023. The purpose of the visit is to develop cooperation between the Shandong Port Group and a number of state bodies and institutions of Azerbaijan, including Baku Port, and discuss the further expansion of existing business and trade opportunities.
After the signing ceremony, the parties participated in the opening ceremony of the monument built on the occasion of the signing of the Memorandum of Sister Ports of Port of Baku located in Alat with Qingdao Port of China. The erection of the monument, which consists of a more than 80-year-old lighthouse, which was donated by Qingdao Port and placed on Absheron rocks, in Baku Port, located on the Ancient Silk Road, shows that Azerbaijan has had trade and friendly relations with China since ancient times, and that this activity continues in a more developed form in modern times. will symbolize the establishment.
Qingdao port includes 5 port areas. These are Qingdao Dagang Port Area, Huangdao Oil Area, Qianwan Port Area, Dongjiakou Port Area and Weihai Port Area. China is a group of ports with a significant share in cargo transportation to Central Asia and Europe. The memorandum of understanding signed between Baku Port and Qingdao Port is an important stage that will contribute to the development of trade and economic relations between Azerbaijan and China, in addition to expanding cooperation between the two ports.