Business
15:57, 08-May-2017
Port of Antwerp set to build on strong commercial links with China
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Belgium's port of Antwerp – one of the most important logistics gateways to Europe – is set to play an important role in the China-proposed Belt and Road Initiative.
As a major distribution point, Antwerp saw the arrival of its first China Railway Express shipment from Xining in Qinghai Province just over a month ago, and it is set to become the base of a Europe-Africa-China logistics center.
Antwerp's vast network of inland terminals – the size of 20,000 football fields – makes it the second largest port on the continent. It acts as both a distribution hub and a transit port for Europe, North America, Africa and beyond.
The port has now developed a strong commercial connection with China, which is the port’s third largest trading partner with more than 14 million tons of maritime traffic in 2016.
The relationship between China and Antwerp is not just focused on trade, but investment too. Chinese shipping company Cosco owns a 20 percent stake in the Belgian port terminal. Under the Belt and Road Initiative, Antwerp is abuzz with plans to capitalize on the Chinese relationship even further.
More investment is still on the horizon, with a Chinese logistics company based in Chengdu planning to create a Euro-Africa-China Trans-Shipment Centre. For Antwerp Port, their catchphrase “Everything is possible” seems to be ringing true.
7940km