Port of Rotterdam Forges Ties with Bank of China

The Bank of China and the Port of Rotterdam Authority signed a Memorandum of Understanding on Wednesday, October 28th aimed at strengthening relations between China and the Netherlands.

The two parties intend to work together on identifying, attracting and developing business opportunities in, among other areas, logistics, containers, shipping and rail infrastructure, within the framework of the Chinese government’s ‘One Belt, One Road’ strategy.

The strategy was launched at the end of 2013 and focuses on connectivity and cooperation among countries primarily in Eurasia. It has two main components, namely the land-based “Silk Road Economic Belt” and the ocean-going “Maritime Silk Road.”

The Port of Rotterdam said that it sees a role for itself in this network as a key logistics hub.

The announcement follows recently signed deal between Dutch multinational banking and financial services corporation ING Group with The Export-Import Bank of China, worth USD 1 billion.

As agreed in the MoU, ING and Eximbank expressed interests in cooperating on future Chinese ship financing transactions, including Chinese built vessels and offshore transactions.

The deal was signed within the framework of one of the largest Dutch trade missions to China which is part of the state visit by King Willem-Alexander and Queen Máxima to the People’s Republic of China at the invitation of President Xi Jinping.

Almost 150 Dutch companies went to China to either start new relationships and explore opportunities or to expand their current business in what has become the second largest economy in the world. Allard Castelein, CEO of the Port of Rotterdam Authority, is also taking part in the Dutch state visit to China.

 

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