Ports of LA, Auckland and Guangzhou form Tripartite Alliance

By Finance

The Port of Los Angeles has signed a memorandum of understanding (MOU) with the New Zealand Ports of Auckland and the Chinese Guangzhou Port, at a Tripartite Ports Summit sponsored by the City of Los Angeles and the city Mayor Eric Garcetti.

The signed agreement establishes the Tripartite Ports Alliance, which represents a new level of cooperation between the three port authorities that had initially committed to working more closely together in November last year.

Ports of LA, Auckland and Guangzhou form Tripartite Alliance

Image: Port of LA

Vilma Martinez, the Commission president of Los Angeles harbor commented:

“The port of Los Angeles looks forward to collaborating with the ports of Auckland and Guangzhou on a series of initiatives, including promoting commercial and business opportunities as well as sharing innovative best practices.”

The cities of Los Angeles, Auckland and Guangzhou are strategic trading partners, which also have similar economic goals.

The parties of the newly formed alliance will provide a platform, which is believed to increase the trilateral cooperation in order to stimulate the trade between the public and private sectors of the three regions. Also Innovations and better investment opportunities are expected to follow in the ports of the three cities as a result of the new agreement.

The main objectives within the memorandum of understanding are sharing of best practices and expertise; strengthened communication and collaboration on investments, technologies and environmental policies; and joint working to enhance capabilities of each port in order to boost the local economies.

Ambassador Vilma Martinez further said:

“We commend Mayor Garcetti’s leadership and foresight in helping to form this alliance during his trade mission to Asia last year. The Port of Los Angeles looks forward to collaborating with the ports of Auckland and Guangzhou on a series of initiatives, including promoting commercial and business opportunities as well as sharing innovative best practices.”