Shanghai Free Trade Zone (FTZ) and Ireland's Shannon FTZ signed a strategic cooperation agreement in Shanghai on April 13, to work together in aircraft financial leasing, cross-border investment and cross-border e-commerce.

Irish Shannon FTZ established in 1959 is the first FTZ in the world, possessing advanced infrastructure and convenient transportation, as well as being a global center for aviation industry service, air freight and logistics, and business aviation.

Shanghai FTZ has intensified its innovation in investment management, trade regulation, financial system and overall supervision since its establishment, which acted as a solid foundation for the signing.

The two parties will carry out cooperation in many fields, especially in aviation industry, said Patrick Edmund, vice president of Shannon FTZ Group.

Source: China daily.com