China Ocean Shipping (Group) Co., Asia’s largest shipping line, has set up a representative office in Taiwan. This makes COSCO the first state-owned shipping company in the mainland to set up an agency on the island.
"The representative office is just the first step. Our next goal is to set up a branch in Taiwan," Wei Jiafu, president and CEO of COSCO, said at the opening of the Taiwan office.
He said COSCO is not aiming to capture the Taiwan market but to better cooperate with Taiwan shipping lines and offer better services for Taiwan companies
Wei also said COSCO plans to invest in Kaohsiung Port to improve its handling capacity.
Steel Guru reports that under the Economic Cooperation Framework Agreement signed by the mainland and Taiwan earlier this year, the two sides agreed to gradually reduce and remove trade and investment barriers.
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