Authorities at Portugal's southern deep-water port of Sines say that the area could play a key role in China's Belt and Road Initiative by further enhancing its advantages in cargo transshipment.
Port of Sines is the main maritime hub in Portugal. The town is also the birthplace of explorer Vasco da Gama, who found a direct sea route from Europe to India through the Atlantic Ocean. His discovery enabled Portugal to establish rich trade with Asia countries.
"Portugal has a history which is linked to our historical movement of the 15th and 16th century. We were the first Europeans to arrive China, so that means we have a Maritime Silk Road, the first Maritime Silk Road. Now China proposes another way coming from China to the West, namely to Europe, to cooperate, to make trades, to work together, " said Fernanda Ilheu, president of Portuguese new silk road friends association.
After decades of development, the port of Sines has grown into an important port for cargo containers. It can receive the largest vessels in the world and operates more than 5,000 container trains per year to and from Europe.
The Portuguese government has signaled its willingness to develop the port as part of the 21st century Maritime Silk Road, deepening the connection between Asia, Europe, Africa, and South America. It also plans to expand the railway link to Madrid, which would further strengthen its trade relationship with China.
"Think about the map, the geography of Portugal. It is the main entrance for Europe coming by sea and the final way of railways coming from China, where land ends and sea begins or vice versa. So that's why you hear a lot about Sines," said Paulo Afonso Brardo Duarte, a researcher from the University of Minho.
Ports of Sines and the Algarve Authority (APS), an entity responsible for the operation of the port of Sines, is now seeking to add a new container terminal to handle an increase of the transshipment. The tendering process will start at the end of this year. The Portuguese government has already sent a trade mission to China to lure investors for the container extension project requiring over 680 million U.S. dollars.
"We have noticed the interest of Chinese operators to know more details of these projects, and they recognize that it is a great potential investment. In addition to the business mission, we have also received several delegations from Chinese companies." said Jose Luis Cacho, CEO of APS.
Portugal has been a seafaring nation for many centuries, and officials hope this port will help the country reaffirm its key position on the new Maritime Silk Road.
Source:cctvplus
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