While in Wollongong recently, Minister for Ports and Waterways Joe Tripodi signed a Memorandum of Understanding (MOU) to progress establishment of a Port Economic Development Committee.
The memorandum involves the Port of Shenzhen in the Shenzhen Municipality, Guangdong Province, the People’s Republic of China, COSCO Shipping and the Port Kembla Port Corporation. The agreement aims to foster an ongoing relationship and is designed to identify and promote trade and commerce opportunities between the two ports and regions.
The Committee will be made up of representatives from Shenzhen City, China Ocean Shipping Company (COSCO), Bandfield Group, and the Port Kembla Port Corporation (PKPC). The Committee will be jointly chaired by Nicholas Whitlam, Chairman of PKPC, and Captain Liu Chang Long, President COSCO Oceania.
Various companies in China have been identified as potential investors in the Illawarra and the Committee will provide a means of progressing them to assess whether they provide growth opportunities for the port and the region.
CEO of the Port Kembla Port Corporation, Dom Figliomeni said that the opportunity to progress this relationship (and agreement) have come about due to the development of the ports Outer Harbour.
"The development of the Outer Harbour provides an opportunity for the establishment of new facilities in the port". It will become critical for the future growth of the port and the capacity for the region to attract new businesses" said Mr Figliomeni.