Piraeus Port Signs MoU with Italian Ports

The Greek port of Piraeus signed a memorandum of understanding (MoU) with Italy’s port authorities from the cities of Venice and Chioggia.

The agreement seeks to develop port services and promote increased trade flow between Europe, the Mediterranean and the Far East.

The MoU was signed during a meeting between the chairman and CEO of Piraeus port Fu Chengqiu and the president of the Northern Adriatic Sea Port Authority (Venice and Chioggia) Pino Musolino.

The MoU envisages cooperation in improving the exchange of best practices and knowhow in port management, particularly in IT, attracting investments and communications.

"The common target is to improve the performance of the two ports, which serve as fundamental networks in the upcoming international maritime connections along the new Silk Road," said a joint press release.

Captain Fu Chengqiu, CEO of Piraeus Port Authority S.A. stated: “Τhe port of Piraeus, the largest port of Greece and the Eastern Mediterranean, is an ideal hub between Asia and Central & Eastern Europe. It is the first deep sea EU port after crossing Suez Canal and offers combined transport solutions with efficient value added services for cargoes, which can be re-distributed by road, rail and sea."

Fu added: "The establishment of our cooperation with the North Adriatic Sea Port Authority is targeting to strengthen the trade links between Asia and Mediterranean and to enhance the role of ports as engines for the European economy. The Piraeus port with its ongoing investment plan aims within the next years to contribute to the growth of the local and regional economy by developing almost every aspect of the shipping and maritime industries including containers, shipyards, logistics, cruise and ferries”.

Pino Musolino, president of the North Adriatic Sea Port Authority (Ports of Venice and Chioggia), said: "In an upcoming scenario which foresees a powerful increase of trades between Asia and Europe along the new maritime Silk Road, it is necessary to put all our efforts on the rationalization of the logistics chains, starting from the ports and from the road connections with the inner markets, in order to shorten distances, to lower transports costs, to remove trucks from roads and improve the environmental sustainability of trades."

"Venice - the westernmost point of arrival by sea in the Chinese strategy of the Belt and Road Initiative - has long been sharing this goal, working day-in and day-out with private and public operators in order to give substance and reliability to the commercial flows between Europe, the Mediterranean and the Far East," he added.

"Through this agreement, which is coupled with the other recently signed with COSCO SHIPPING for a weekly connection Piraeus-Venice, we want to clearly show that the development of trades primarily requires commercial agreements, optimization of services and targeted infrastructure interventions. This is the right path to create value for our economy and for our territory," Pino concluded.