COSCO SHIPPING (South America) and China Certification & Inspection Group South America inked a strategic cooperation agreement in Argentina on 5 October.
China Certification & Inspection Group South America is an independent third-party firm that provides inspection and certification services for important South American commodities shipped to China. It operates on the concepts of “standards, inspection, testing, and certification” and makes use of the CCIC Group’s broad global network.
According to the agreement, both parties will leverage their strengths to boost business partnership and collaboration in four key areas:
- use of blockchain traceability and electronic bill of lading technology
- creation of comprehensive solutions for industry customers
- promotion of environmentally-friendly practices in the shipping industry
- development of carbon-neutral new energy certification business, and growing overseas standard warehouses and channels in an innovative manner.
“This collaboration aims to contribute Chinese expertise to enhance trade and supply chain efficiency between China and South American countries,” said COSCO in a statement.
The partnership is expected to mainly focus on the implementation of blockchain traceability for bulk small commodities and the use of electronic bill of lading technologies. South America will serve as the initial launchpad for these pilot initiatives.
