Chinese president Xi Jinping has served as witness to an agreement between AP Moller-Maersk and the China Shipping Group (CSG).
The signing, held in the Royal Palace, Belgium was attended by a number of executives from both companies, alongside the president, who is currently touring across Europe.
Both parties also had a chance to expand discussions on new container terminal projects to potentially collaborate in as joint venture partners, in the ceremony hosted by Belgian Prime Minister, Elio Di Rupo.
CSG operates both China Shipping Terminal and China Container Shipping Lines. By joining A.P. Moller-Maersk, they hope to further extend their reach in European markets.
Earlier in March last year, CSG signed an MOU with APM Terminals Zeebrugge for a 24 percent stake in the deepwater terminal. APM Terminals Zeebruge remains the majority shareholder and operator of the terminal with a 51 percent share, whilst Shanghai International Port Group owns the remaining 25 percent.