ECSA: EU-Canada Trade Deal to Open New Markets for Shipping

Illustration; Image Courtesy: ICS

The EU-Canada trade agreement will cut customs duties and open new markets for shipping companies such as dredging, movement of empty containers and certain transportation between Canadian ports, the European Community Shipowners’ Associations (ECSA) said, welcoming the provisional application of CETA.

The Comprehensive Economic Trade Agreement (CETA) entered into force provisionally on September 21. Its application follows the approval by EU member states and by the European Parliament.

“It is important for the EU to sign ambitious trade agreements such as CETA, especially in the current political climate where global and open trade is put under pressure,” Niels Smedegaard, ECSA President, commented.

“We, therefore, were pleased to hear European Commission President Mr Juncker’s plan to strengthen Europe’s trade agenda… As representatives of one of the most globalised European businesses we could not agree more,” Smedegaard added.

“Shipping needs global trade to exist and global trade cannot exist without an efficient shipping industry. Around 80% of world trade in goods is carried by the international shipping industry and European shipowners control 40% of the world’s merchant fleet and operate shipping services all over the world. We also support the plan announced last week by President Juncker to set up a Group of Experts on EU Trade Agreements, and we would certainly be ready to provide our expertise on the matter,” Smedegaard concluded.

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