Economy

China, ROK sign joint land-sea transport deal

(Xinhua)
Updated: 2010-09-09 08:52

JINAN - China on Tuesday signed its first joint land and sea transport agreement with the Republic of Korea to cut logistics costs and boost trade.

The agreement was signed in Weihai city in east China's Shandong province.

Under the agreement, semi-trailers loaded with cargo can be shipped between several ports in China and the ROK beginning next year, said Ju Chengzhi, director of the international cooperation department with China's Ministry of Transport.

The agreement also allows for trailers to be shipped, Ju said, without giving a specific date for when this would begin.

The pilot ports include Qingdao, Rizhao, Yantai, Weihai, Longyan and Shidao in Shandong, as well as Incheon, Pyungtack and Kunsan in the ROK.

The ports might later include locations such as northeast China' s Liaoning province, said Ju.

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The joint land and sea service can cut transport time by 3.5 hours and reduce costs by $50 per container, as trailers can be driven directly to customers without unloading and loading, according to the ROK' s Transport Research Institute.

The agreement is expected to increase the transport of fresh vegetables, live fish and products such as glass and electronics, said Weng Mengyong, vice minister of China's Ministry of Transport.

This year marks the 20th year since the launching of cargo, passenger and container sea transport services between China and the ROK. China has become the ROK' s largest trading partner, both as its largest importer and exporter.