EU-China Maritime Agreement to come into force on March 1

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

29 Feb 2008

China and the EU have announced that a maritime agreement aimed at improving cargo transport operations and cooperation between the two sides will come into force on March 1. The EU-China Maritime Agreement, initially signed in 2002, aims to develop trade and economic activities, as well as increase investment in maritime transport and boost cooperation in areas such as maritime safety and environmentally sustainable shipping, the EU said in a statement.The agreement should also improve market access, the statement said.To avoid costly congestion, major investments will be made by EU and Chinese operators in ports and logistics infrastructure, the EU added, without elaborating.'The maritime agreement will not only deliver concrete results in trade and economic activities, but also deepen maritime cooperation in areas such as maritime safety. Furthermore, it will address the agenda of climate change by promoting shipping as the most efficient and environmentally-friendly mode of transport,' the EU said, noting that 90 pct of world trade is carried by sea.'The Maritime Agreement, once entered into force, will further strengthen EU-China relations and will support the development of a quality-oriented shipping environment,' it said.Officials and industry representatives from both China and the EU were in Beijing today to mark the announcement.