BEIJING, Jan. 12 (APP): The first international bulk oil trade project, a collaboration between the Pakistan-China Center, Pakistan, and East Sea Group, China, was launched recently in the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA), Qingdao, Shangdong, China.
Under the project, the initial batch of Malaysia blend crude oil, totalling 300,000 tons, underscores a deepening of investment cooperation between SCODA and Shanghai Cooperation Organization (SCO) member countries, China Economic Net (CEN) reported on Friday.
Fang Yulong, Chief Executive Officer of East Sea Group, expressed confidence in expanding into the SCO member countries’ markets, attributing it to the support and assistance received from SCODA.
Leveraging its geographical advantages and openness, SCODA has actively promoted energy cooperation with the SCO member countries and Belt and Road Initiative (BRI) countries. SCODA has now emerged as a vital hub for trade and business among member countries of the SCO.