The Port of Los Angeles has signed a memorandum of understanding (MoU) with the Ports of Auckland and Guangzhou, establishing the tripartite ports alliance to enhance cooperation.
The new alliance will allow the ports to collaborate on trade, innovation and investment opportunities between the public and private sectors of the three regions.
Los Angeles Harbor Commission president ambassador Vilma Martinez said: "We commend Mayor Garcetti’s leadership and foresight in helping to form this alliance during his trade mission to Asia last year.
"The Port of Los Angeles looks forward to collaborating with the ports of Auckland and Guangzhou on a series of initiatives, including promoting commercial and business opportunities, as well as sharing innovative best practices."
The development also marks the extension of cooperation between the three port authorities, which had initially committed to collaboration ideas in November 2014.
Objectives covered in the MoU include sharing of best practices and expertise; strengthened communication and collaboration on investments, technologies and environmental policies, and working together to improve the capabilities of each port to support the regional economies.
The MoU was signed alongside the Tripartite Summit, which focuses on business-to-business matchmaking for key sectors, such as transportation, infrastructure development and design, among others.
The Port of Los Angeles reported $290bn in trade during 2014. Port operations and commerce facilitate more than 148,000 jobs in the City of Los Angeles and 531,000 jobs in the five-county Southern California region.
Image: Officials during the signing ceremony. Photo: courtesy of Port of Los Angeles.