The Chinese and British shipping industries are set to take their mutual cooperation to a higher level following the recent signing of a memorandum of understanding (MOU) reports Xinhua.
The MOU was signed by the Lord Mayor of London, Fiona Woolf; the Vice President of the Investment Committee at China Merchants Group, Yu Liming; the chairman of Maritime London Jeffrey Evans, and the chief executive of Maritime London Doug Barrow.
China Merchants Group is a Chinese state-owned enterprise with a strong presence in the shipping sector, and Maritime London represents businesses based in Britain involved in maritime services.
Fiona Woolf, Xinhua report, felt that the signing of the Memorandum of Understanding was very important for China, the UK, and the global shipping industry. She considered too that the MOU had objectives that provide opportunities for both Maritime London and UK-based shipping companies to further expand into China, and for companies in China's shipping industry to benefit from global expertise.