The European Union and China will today open up their maritime transport markets to each other as an agreement signed in late 2002 becomes active.
The maritime agreement, signed in Brussels on Dec. 6 2002, will allow for free access to cargoes and cross trades, unrestricted access to and non-discriminatory treatment in the use of ports and auxiliary services as well as regarding commercial presence. It covers all aspects of door-to-door services. It also deals with maritime transport cooperation notably in international organizations such as the International Maritime Organization, International Labor Organization and World Trade Organization.
"The entry into force of the 2002 agreement on maritime transport will further boost the economic development of the EU and China for the benefit of world trade in general and maritime transport operators in particular," said European Commission Vice-President Jacques Barrot. "Furthermore, I am pleased to note that our maritime cooperation in such important areas as maritime safety has also been strengthened on the basis of this agreement".
The EC said 90 percent of world trade is carried by sea, with EU shipping companies controlling more than 40 percent of the world fleet. China is the EU's second-largest trading partner.
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