BUSAN, South Korea — The City of Busan signed the 'Busan-Ningbo Marine Economy Exchange & Cooperation Agreement' with Ningbo, China on July 20 in the City Hall. The City of Ningbo is a leading marine city in China which has been enjoying rapid growth. Busan and Ningbo agreed on exchange & cooperation related to the marine economy, assistance and active participation in international conferences & events taking place in both cities, support on mutual visits & the training of public officials, encouragement in exchange & cooperation among companies, research institutions and universities, joint operation of research projects, and the co-establishment of a marine economy research center.
Ningbo-Zhoushan port is one of China's major logistics & maritime cities, ranking No. 1 in the world in terms of the quantity of goods transported (690 million tons), and No. 6 in container traffic. More Busan-based companies in related fields, such as port distribution, marine equipment and the fishery industry, are expected to enter Ningbo in the future, and rising investment from companies in Ningbo is also expected.
Source: Busan City News