core sector communique

Jawaharlal Nehru Port Trust Signs MoU with Venice Port Authority

Jawaharlal Nehru Port Trust (JNPT) and Venice Port Authority signed a Memorandum of Understanding(MoU) in Chennai today in the presence of the Union Minister of Shipping Shri G. K. Vasan. JNPT was represented by Shri L.Radhakrishnan, Chairman, JNPT and the Venice Port Authority was represented by Capt. Antonio Revedin. Terming today’s event as an important milestone for Indo-Italian trade co-operation Shri Vasan said, these two ports entered into a new era of mutual friendship in maritime activities.

Trade between Europe and India existed since ancient times, but the post Independence era saw the import of machinery etc. from Europe including machineries for small and medium enterprises from Italy and export of textiles, carpets and leather etc to Italy. From the nineties onwards with the advent of globalization and integration of Europe, the trade has become stronger and therefore relationships between port businesses in Italy and India have got strengthened.

Regarding both the ports the Minister said, “JNPT is the largest port in India for solids handling and in containers they have a market share of about 55% 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. JNPT expects to strengthen its relationship with the Port of Venice and enhance direct shipping to and from the Port of Venice. This is bound to be a mutually advantageous relationship not only for the two Ports but for the manufacturing and trade sectors of both the countries. With over 2 million passengers per year, the Port of Venice is the first home port for cruise ships in the Mediterranean Sea. The expertise of Port of Venice in Cruise shipping could also be shared with JNPT in order that this expanding segment of tourism can develop faster in India.”

Referring to India’s trade with the Europe Shri Vasan said, “Ever since European Union has become a reality, the Government of India has been particularly focusing on Indo-European trade and commerce. India had a special relationship with England post-independence, which naturally meant the greater exchange of products between the two countries.” Regarding Italy he said that it is an important trading partner for India. The Port of Venice is uniquely placed not only to focus business from the Italian hinterland but also from the north Adriatic region and Central Europe where high growth potential exists. He expressed the hope that this MoU between JNPT and the Port of Venice will lead to the achievement of the above mentioned broad objectives of the respective countries and regions as well as mutual help and collaboration between these two important world ports in the areas of port operations, port management, marine construction and human resource development.