Smithfield Foods Inc. and Chinese port operator Dandong Port Group have signed an agreement to work together to grow pork exports to China. Virginia Governor Bob McDonnell announced in a release that the agreement was part of his recent trade mission to China, reports the Daily Press. Smithfield and Dandong "will examine ways to grow the business alliance through exchange of information and market studies aimed at maximizing the assets of both companies."

"This strategic partnership will serve both companies in the future: Smithfield gains an important strategic ally in a rapidly developing region of China, and Dandong will serve as the regional hub for supplying the needs of this region as well as other countries in northeast Asia," McDonnell said.

The partnership is a nonbinding agreement between Smithfield and Dondong, which owns and operates major port and transportation networks throughout northern China.

Source: Daily Press