JNPT, Venice Port Authority to expand co-operation

Jawaharlal Nehru Port Trust (JNPT) and Venice Port Authority today signed a memorandum of understanding (MoU) for maritime cooperation as part of Indo-Italian trade co-operation. The MoU was signed in Chennai, in the presence of union minister of shipping G K Vasan.

JNPT was represented by L Radhakrishnan, chairman and the Venice Port Authority was represented by Capt Antonio Revedin.

Although trade between Europe and India existed since ancient times, the post-Independence era saw a surge of import of machinery etc from Europe. India's trade with Italy included import of machinery for small and medium enterprises from Italy and export of textiles, carpets and leather etc to Italy.

Globalization of economies since the 90s and the integration of Europe saw the rise of port business.

''JNPT is the largest port in India for solids handling and in containers they have a market share of about 55 per cent among the major ports in India during the last year, while Venice port is one of the important European ports for break bulk and project cargo traffic,'' the minister pointed out.

JNPT expects to strengthen its relationship with the Port of Venice and enhance direct shipping to and from Venice.