[Photo: Piraeus Port Authority]

COSCO, Piraeus Port Authority S.A.(PPA) and Shanghai International Port Group signed two cooperation memoranda, in Pireaus, on 12 June 2017.

The strategic goal is to make Piraeus port one of the largest shipping centres in the world, according to Shipping and Island Policy minister, P. Kouroublis.

The first, agreement concerns cooperation between the PPA and the port of Shanghai - the world's largest trading port - for the movement and increase of containers from China to the EU, as well as the transfer of know-how and personnel training in Greece. The MOU was signed, on the Greek side, by Athanasios Liagos, managing director and member of the PPA Board, and on the Chinese side, by Shanghai International Port Group Chairman, Chen Xuyuan.

The second agreement, signed between COSCO and Shanghai International Port Group, concerns international cooperation issues and was signed by China Cosco Shipping Corporation Limited Chairman Hu Lirong and SIPG Chairman Chen Xuyuan.

The SIP Group is a key maritime and commercial hub in China. In addition to container handling, it is financing the development of Chinese and foreign ports and has a strong position in the development of China's cruise and real estate investments.