Zhongbing Logistics Co, a subsidiary of Inner Mongolia First Machinery Group, recently crowned progress in its import business by signing a 400-ton oil supply contract with an Abu Dhabi-based petroleum group, according to local media reports.

A company spokesman said his company has been making every effort to implement the Belt and Road Initiative and focus on the global market.

To ensure strategic supplies, the company cooperated with the Abu Dhabi-based oil company -- based on the high domestic demand for base oils and the fact that it was difficult to meet the daily production requirements of major lubricant factories.

The spokesman said his company understood the actual demand of domestic lubricants factories through research and field visits.

In addition, Zhongbing Logistics Co is actively expanding its export trade with Nepal, UAE, Nigeria and other countries.

In October, it successfully signed a vehicle export contract worth 1.5 million yuan ($214,359) with a Nigerian-based company. The project is currently being implemented.

The company has also developed its vehicle and auto parts export business in the UAE, Nepal and other regions -- and has reached a preliminary supply agreement.

The company, spokesman said, was actively engaged in follow-up negotiations.