![]() ![]() However, there remains tension on the issue within the government. Scholz's party was especially keen on pushing the deal through. COSCO already holds stakes in many other European ports. The COSCO deal inflamed that debate, with several government ministries connected to the Greens and the Free Democrats demanding last October that the company's stake be capped so it could not have outright control.Ĭritics have argued that allowing the deal to proceed creates a major security issue as it gives the Chinese government undue influence in the port terminal. In recent years, Germany has sought to limit Chinese investment in the country. That's despite a heightened political debate in Germany over the extent to which Berlin is dependent on its economic relationship with Beijing. ![]() ![]() ![]() China has been Germany's biggest trade partner for seven straight years Image: Kay Nietfeld/dpa/picture alliance China has been Germany's biggest trade partner for the past seven years, with the value of trade between the countries rising to a record €298 billion ($320 billion) in 2022. It also said the agreement would strengthen Hamburg's national and international importance as a logistics location.Ĭlose to one-third of the goods handled at the port already come from or go to China. The company says the deal will make Hamburg port a preferred destination for COSCO and help secure jobs. The Tollerort terminal is owned by the Hamburg port logistics company HHLA. That compromise had been reached following intense opposition to the deal from the Greens and the Free Democrats (FDP), coalition partners of Scholz's Social Democrats (SPD). However, on Wednesday, chief government spokesperson Steffen Hebestreit said the government was sticking to the October decision, which caps COSCO's stake in the Tollerort terminal at 24.99%. The review came when it emerged that the Tollerort container terminal had been classified as critical German infrastructure earlier in 2023 by Germany's national cyber security agency, the BSI. Last month it was announced that Chancellor Olaf Scholz's three-party coalition government was revisiting a decision made in October 2022 to give the go-ahead to the deal. Managed through three hundred local offices, CLA has the expertise, routes, warehousing and distribution services that extend throughout Asia and the Far East.The German government has given final approval to a controversial deal that will see the Chinese shipping company COSCO take a minority stake in a container terminal at Hamburg port. CLA is particularly noted for its extensive and unparalleled experience in moving cargo to any point in China via rail, truck or barge. CLA provides true peace of mind, with a full suite of electronic services that allow tracking, tracing and monitoring of each shipment. With one call, just one point of contact, CLA will move your cargo to virtually any point worldwide through a network of strategically placed warehouses, intermodal services and specialized vendors that meet CLA’s stringent standards for customer service, integrity, speed and efficiency. With services that reach all parts of North America and resources that circle the globe, CLA offers customized solutions ready to meet the widest variety of supply chain challenges. A tradition of excellence combined with a company-wide culture of unmatched customer service is what has made COSCO SHIPPING Logistics (North America) the world’s leading provider of third party logistics. ![]()
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