"Co-building the Belt and Road Initiative has brought tangible benefits to Panama" (Co-building the Belt and Road Initiative·First Scene)
2024-08-11
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This article is reproduced from [People's Daily];
A COSCO Shipping container ship is docked at the Port of Balboa, Panama.
Photo by Paula Suman
Inside COSCO SHIPPING's overseas warehouse, workers are moving goods with forklifts.
Photo by our reporter Shi Yuanhao
The Pacific Ocean is vast and misty, and the container ship "Moli" of China Ocean Shipping Group Container Lines Co., Ltd. (hereinafter referred to as "COSCO Shipping Lines") is sailing forward through the waves. On the ship, containers are neatly stacked, fully loaded with various household appliances, electronic products and spare parts.
After arriving in Panama City, the cargo ship slowly docked at the Port of Colon on the Atlantic coast through the Panama Canal. Here, the containers were transported to the COSCO Shipping Overseas Warehouse in the Colon Free Trade Zone. Then, these goods will be distributed to many merchants in Latin America and the Caribbean, and eventually enter the homes of thousands of Latin American consumers.
"Sea transportation + overseas warehouse" is a "one-stop" comprehensive logistics service model explored by COSCO Shipping, which integrates sea transportation, warehousing, customs declaration and other services, making important contributions to promoting local employment and shipping industry development in Panama.
Innovate service models to optimize logistics and transportation
The reporter drove from Panama City to Colon, and encountered container trucks with the "COSCO SHIPPING Group" logo from time to time on the road. "Most of these trucks are going to the Colon Free Trade Zone to transport goods." Wang Zhen, deputy general manager of COSCO SHIPPING Lines (Panama) Co., Ltd., told reporters that the Colon Free Trade Zone is the largest free trade zone in the Western Hemisphere, located near the Atlantic entrance of the Panama Canal, with convenient shipping conditions and many tax incentives, and re-export trade is its core business.
In October 2020, in order to better utilize the location advantages of the free trade zone and COSCO SHIPPING's own route advantages and meet the needs of more Chinese companies to expand their business in Latin America, COSCO SHIPPING established an overseas warehouse in the Colon Free Trade Zone with a total warehouse area of more than 20,000 square meters.
In the warehouse area of the Cologne Free Trade Zone, a huge square warehouse with a red and blue "COSCO Shipping" logo printed on the ceiling, several containers are neatly placed in front of the warehouse. On the first floor of the warehouse, forklifts are lined up, ready to carry the goods unloaded from the containers, and some employees are counting the goods.
Wang Zhen told reporters that the construction of overseas warehouses can not only help Latin America solve logistics bottlenecks, but also reduce comprehensive transportation costs and promote the stability and smoothness of the industrial chain and supply chain. Wang Zhen told reporters that with the help of overseas warehouses, goods are stored in the free trade zone, and once buyers in Latin America and the Caribbean place an order, they can get a quick response.
“As a buyer of goods distributors, we often need to advance a large amount of funds, and we can only get the payment after all the goods are sold. The long voyage will inevitably lead to excessive pressure on capital recovery.” Guo Jialun, Logistics Manager of COSCO SHIPPING Lines (Panama) Co., Ltd. said, “Overseas warehouses have greatly shortened the delivery time of goods and reduced the pressure on capital recovery, which has won praise from buyers in Latin America and the Caribbean.”
Wang Zhen said that since the warehouse started operating, COSCO Shipping has carried out in-depth cooperation with many Chinese companies, saving them overseas operating costs. COSCO Shipping's "shipping + overseas warehouse" model has successfully helped these Chinese companies expand their overseas business and enhance their international competitiveness.
Promoting local employment and demonstrating the responsibility of Chinese enterprises
In the warehouse office, Carlos Bandini, the manager of COSCO Shipping Overseas Warehouse in Cologne, was sitting in front of a computer and carefully checking the logistics information. He told reporters: "Whenever I think that these goods will be transferred to other countries through our hands and reach the hands of enterprises or consumers safely and quickly, I will feel a strong sense of satisfaction in my heart."
Bandini, 48, has been working in the overseas warehouse for more than two years. He said: "Through efficient management and the introduction of the latest technology, we can not only ensure that products are delivered to businesses or consumers in a timely manner, but also significantly reduce costs."
Alexander Solis, a warehouse assistant, receives the arriving containers every day, ships them promptly after the buyer places an order, and ensures that the goods are delivered on time. "Although it sounds trivial, these tasks are very important to customers," Solis told reporters. "We often receive thank-you letters from customers, which makes me enjoy my job very much."
It is reported that COSCO SHIPPING has employed a considerable number of local employees in its offices and multiple terminals in Panama City, with nearly 100 local employees in its overseas warehouse in Cologne alone. COSCO SHIPPING has also actively supported the development of Panama's shipping industry, providing operating console simulators of various types of ships to local maritime schools, and cooperating with maritime schools and institutions to provide internship opportunities for students in related majors. On the campus of the International Maritime University of Panama, a building donated by COSCO SHIPPING was named "COSCO Building", and the school's simulators and application technology center are also equipped with equipment donated by COSCO SHIPPING.
Deepen strategic docking and expand cooperation space
COSCO SHIPPING is an important user of the Panama Canal. In June 2016, COSCO SHIPPING's "COSCO Panama" became the first ship to sail through the Panama Canal after the completion of the expansion project.
"The transport connectivity from Panama to all parts of the world is Panama's core advantage," said Giovanni Ferrari, general manager of the Colon Free Trade Zone, in an interview with reporters. "As more and more Chinese companies conduct business in Panama, this advantage continues to grow."
The latest data from the Panama Canal Authority shows that of the cargo passing through the Panama Canal in fiscal year 2023, more than 25 million tons came from China and more than 39 million tons were shipped to China, totaling more than 64 million tons, accounting for as high as 22.7%.
Ferrari said that China has long maintained its position as the largest supplier of goods to the Colon Free Trade Zone and the second largest user of the Panama Canal. A large number of Chinese goods are transshipped to Latin American and Caribbean countries through the free trade zone, which not only promotes the development of the Colon Free Trade Zone, but also plays an important role in facilitating global trade and stabilizing the supply chain.
"Thanks to the economic and trade cooperation between Panama and China and Panama's strategic position, many Chinese companies have set up regional offices in Panama." Francisco Escobar Pedrequi, former Panamanian ambassador to China, said that the practical cooperation between Panama and China is progressing smoothly. China's Belt and Road Initiative aims to promote world connectivity. Panama is willing to play an important role in the cooperation in jointly building the Belt and Road.
Panama is the first Latin American and Caribbean country to sign a memorandum of understanding on cooperation under the Belt and Road Initiative with China. China and Panama agreed to take the opportunity of connecting the Belt and Road Initiative with Panama's "National Logistics Strategy 2030" to continuously expand cooperation space and create highlights.
Panamanian economist Eddie Tapiro said that as an international shipping center and a regional aviation, logistics and financial hub, Panama is a natural partner in jointly building the "Belt and Road" and will use its geographical advantages to play an active role in deepening Latin American-China cooperation.
"The joint construction of the 'Belt and Road' has brought tangible benefits to Panama." Panama's Minister of Housing Paredes told reporters that the global interconnection network built by the high-quality joint construction of the "Belt and Road" has greatly promoted global trade and made Panama's location advantages more prominent.
(From our correspondent in Colon, Panama)
