On April 17, a memorandum of understanding was signed between Baku International Sea Trade Port (Baku Port) JSC and Qingdao Port, one of the largest ports in China.

The primary purpose of the memorandum is to attract a larger volume of transit cargo flow through the Middle Corridor passing through Azerbaijan, to form and develop mutually beneficial cooperation between the mentioned ports. "According to the terms of the memorandum signed with Baku port and Qingdao port, the parties will cooperate in the field of best practice, digital solutions, sustainability, and application of technologies, using modern solutions in the field of port work organization and relations with business partners. At the same time, mutual visits and experience exchanges are planned between the ports to learn modern knowledge and skills. "According to the memorandum of understanding, it will be possible to transport goods from Qingdao Port from Japan and South Korea through Azerbaijan through the Middle Corridor," the information added.

Li Fengli, the chairman of the Board of Directors and General Director of Shandong Port Group, was on a business trip to Azerbaijan from April 16 to 18. The purpose of the visit is to develop cooperation between the Shandong Port Group and several state bodies and institutions of Azerbaijan, including Baku Port, and discuss the further expansion of existing business and trade opportunities.

After the signing ceremony, the parties participated in the opening ceremony of the monument built on the occasion of the signing of the Memorandum of Sister Ports of Port of Baku located in Alat with Qingdao Port of China.

Notably, Qingdao Port, part of the Shandong Port Group, has built China's first fully automated container terminal, where all cargo handling is done without human intervention. With the help of artificial intelligence and 5G technologies applied in loading, the port handled 26 million TEU containers in 2022. Qingdao Port is the 3rd largest port in China by handling capacity.