The Port of Piraeus. [Photo/WeChat account: Shandong-Port]

Qingdao Port, a subsidiary of Shandong Port Group (SPG), and Piraeus Port Authority S.A. signed a sister port relationship agreement in Piraeus, Greece, on May 8, local time.

The agreement aims to foster cooperation in areas like port development, operation management, and the construction of smart and green ports. This marks the 47th sister port partnership for SPG.

The Port of Piraeus, recognized as the "Southern Gate" of Europe, plays a crucial role in the China-Europe Land-Sea Express Line and enhancing China-Europe trade. It is a significant project under the Belt and Road Initiative, showcasing cooperation between China and Greece.

As the controlling shareholder of the Port of Piraeus, China COSCO Shipping has maintained a strategic partnership with SPG, offering the most extensive route coverage. This newly signed agreement will further solidify the cooperation between the two parties and enable them to utilize their geographical advantages to enhance economic and trade exchanges between China and Europe.

In recent years, SPG has prioritized cultivating sister port relationships to advance route development and expand the global supply chain service network. This agreement will reinforce the presence of SPG in Europe, enhance SPG's business expansion in Greece, and establish a new supply chain channel connecting the economic heartland along the Yellow River basin in China with customers in Greece and beyond in Europe.