Largest mainland shipping company unveils representative office in Taiwan

08:58, October 25, 2010      

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China Ocean Shipping (Group) Company (COSCO), a shipping giant from the Chinese mainland, announced Sunday the establishment of its representative office in Taiwan, aiming to better coordinate with its counterparts in the island and jointly explore the international market.

This is the first agency set up by a mainland state-owned shipping company in the island.

COSCO's President and CEO Wei Jiafu said the office's opening ceremony on Sunday that "The representative office is just the first step. Our next goal is to set up a branch in Taiwan."

As the agency is not allowed to conduct business transactions at present, the three-member office will be engaged in getting better in touch with the island's business circles and seeking more business opportunities, according to the company.

Wei said COSCO's establishment of the office in the island was not aimed at capturing the Taiwan market but to better cooperate with Taiwan's shipping lines and offer better services for Taiwan companies.

"Our counterparts in Taiwan have given extensive support for the setting up of our representative office in the island," he said.

COSCO, which specializes in global shipping, modern logistics and ship building and repairing, is now China's largest shipping company.

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