Norfolk –- The Virginia Port Authority (VPA) and Dandong Port Group Co., Ltd., a China-based holding company with multiple assets throughout that nation, have signed a memorandum of understanding (MOU) aimed at fostering trade between the two ports.
The one-year agreement will see both organizations cooperate, where possible, on marketing activities, market research, exchange of information, technology, modernization details and cross-training.
"These kinds of agreements signify the beginnings of a working relationship and hopefully a long-term relationship where both parties benefit," said Jerry A. Bridges, the VPA's executive director. "It is always in our best interest to establish an alliance of cooperation aimed at generating new business."
The state-run Port of Dandong is located in Hong Kong and provides coastal and inland water cargo transportation, port loading and unloading, container loading and unloading, storage and building port logistics center services. The company was founded in 2005.
The agreement was signed by Wenliang Wang, chairman of the Dandong Port Group Co., and Bridges.