A memorandum of cooperation between the Ventspils Freeport Authority and the Ukrainian state enterprise Chornomorsk Commercial Sea Port was signed in Ventspils, Latvia. The document is aimed at developing partnerships and strengthening logistics ties between the two countries.
The memorandum was signed on behalf of the Latvian side by Igor Udodovs, Deputy Director General and Head of Marketing and Development at the Ventspils Free Port. The Ukrainian side was represented by Pavel Podolyan, Deputy Director for Economics at the Chornomorsk Port.
According to the agreements, the ports intend to jointly develop transport and logistics projects, share experience in cargo handling and security, implement sustainable solutions, conduct personnel training and participate in international initiatives.
The signed document emphasizes the parties’ desire to create new routes and develop economic ties, which is especially relevant in the context of the changing geopolitical and logistics environment in the region.
The memorandum comes into force upon signing and will be valid for four years with the possibility of extension by mutual agreement.