On Jan 23, the second day of the 49th Annual Meeting of the World Economic Forum, the Guangzhou-based Cedar Holdings signed a cooperation agreement with the Ukrainian Chamber of Commerce and Industry. 

According to the agreement, Cedar Holdings will help its partner further expand its bulk commodities into the Chinese market using its insight and experience in the commodity supply chain industry.

Cedar Holdings is one of the enterprises representing Guangzhou at the Davos forum, and the cooperation agreement marked Guangzhou's dedication to the Belt and Road Initiative. It also helped promote Guangzhou abroad and encourage more business cooperation between Guangzhou and the rest of the world.

Known as the "European Granary", Ukraine was one of the first European countries to join the Belt and Road Initiative and the country is rich in resources with great transportation infrastructure. Its capital, Kyiv, is also an important hub city within the Silk Road Economic Belt.

In early 2012, Guangdong province forged a friendly relationship with Kyiv, and the two parties have since been carrying out cooperation in the fields of science and technology, economics, trade and humanities.

According to Zhang Jin, chairman of the board of Cedar Holdings, the company's supply chain is one of the strongest in China and it will help more Ukrainian companies enter the Chinese market.