[photopress:logistics_open_seas.jpg,full,alignright]China and the European Union (EU) have given each other unrestricted maritime market access as a result of the EU-China Maritime Transport Agreement. Aviation has ‘open skies’. Shipping now has ‘open seas.’
Under the pact, concluded in Brussels on Dec. 6, 2002 — international agreements cannot be rushed — international cargo transport and logistics operators may extend branches that provide door-to-door multi-modal services.
European Commission Vice-President Jacques Barrot in a letter to the Chinese Minister for Communications, Li Shenglin, said, ‘The agreement has strengthened our maritime relations and cooperation. These close ties have been beneficial for the development of trade and economic activities, not only between China and the EU but also with the world at large.’
He also said that the accord would mean increased investment in all segments of maritime transport, and it would also boost cooperation in matters as important as maritime safety and environmentally sustainable shipping.
Both sides would also increase investment in ports and logistics infrastructure to avoid costly congestion.
About 90% of world trade is seaborne, and both the EU and China are major participants in maritime affairs. EU shipping companies control more than 40% of the world fleet, and China is the EU’s second largest trading partner.
Source: China View