During the Chinese Prime Minister Mr Li Kepiang’s official visit to its headquarters on July 1, 2015, the CMA CGM Group announced two major economic partnerships; a financing framework agreement with the Chinese bank CEXIM, and a strategic partnership with China Merchants (CMHI) on the ‘One Belt, One Road’ project, initiated by the Chinese government.
The group has recently explained the logic behind its Jamaican logistics project, stating that its aims are to develop the Cuban domestic market.
CMA CGM and the Export-Import Bank of China will sign a framework agreement on financing solutions for a total of up to US$1 billion in the form of loans and/or export credit insurance.
The solutions would be available for the future vessels and containers the group may order in China. Those investments are essential to accompany the CMA CGM Group’s development strategy.
The One Belt, One Road project is a high profile strategy initiated by the Chinese government to develop many infrastructure and ports-related logistics projects.
CMA CGM and China Merchants (CMHI) will agree on a common and primary interest.
They are to sign a strategic partnership on July 1, 2015 to investigate and evaluate together, as their priority, the investment opportunities.
The One Belt, One Road project, initiated by the Chinese Government and its President, aims to create a link between South East Asia to Oceania, East Africa, North Africa and Europe by the sea, in order to secure imports and exports to and from China.
It is the second international trade initiative China has launched recently following the announcement of its Maritime Silk Road project which aims to revive historic trading links throughout Asia.