Baku, November 9, AZERTAC SOCAR and China Petroleum & Chemical Corporation (Sinopec Corp.) have signed a Memorandum of Understanding on Strategic Cooperation in Shanghai, the People's Republic of China.The document was signed by SOCAR Vice President Fuad Musayev and Sinopec Corp. Vice President Li Yuxing.The memorandum aims to strengthen cooperation between the two companies in procurement and supply chain management.Under the document, the parties will cooperate in exchanging information on supplier resources and developing supply chain management strategies.The memorandum also envisages the exchange of experience and best practices, exploring opportunities to integrate each other's products, equipment and services into their respective procurement and supply chains, as well as cooperation in other areas to be mutually agreed upon.