China's largest state-owned international and domestic container shipping and related services company COSCO shipping lines is opening its first branch in Sarajevo of Bosnia and Herzegovina.
The Sarajevo office was opened within the “One Belt – One Road” (Maritime Silk Road) initiative. As its fourth regional office, it will add Bosnia to Croatia and Serbia, where COSCO already operates. The Maritime Silk Road is a sea route connecting China, Southeast Asia, Oceania, Europe and North Africa.
FENA news agency quoted Meliha Mujezinovic, head of the COSCO Shipping office in Bosnia as saying: "The company's commitment is to make the One belt, One road initiative more recognisable in Bosnia and that the two countries continue to develop friendly and business relations. We are convinced this will bring economic progress for Bosnia."
The company currently uses the Rijeka port in Croatia but they plan to expand their services to the Port Ploce which is very significant and important for this company.
The Chinese state-owned company specializing in international and domestic cargo shipping and related services COSCO Shipping is the leading shipping company in the world with more than 1,100 vessels.
By the end of June 2018, COSCO had a total of 393 container vessels, ranking in fourth place in the world and first place in Asia, covering 294 ports in 90 countries, according to the company's website.