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European Shipowners Welcomes EPA

File Photo: European Community Shipowners' Associations

Shailaja A. Lakshmi

The European Union (EU) and Japan signed the EU-Japan Economic Partnership Agreement during the 25th EU-Japan summit in Tokyo. The European Shipowners welcome the signing of a highly ambitious trade agreement between two of the world's largest economies.

"At a time that unilateralism and protectionism are rising, the EU and Japan are sending a strong message in support of free, fair and rules-based trade", said European Community Shipowners' Associations (ECSA)' Secretary General Martin Dorsman.

The agreement with Japan will remove the vast majority of customs duties that cost EU companies exporting to Japan EUR 1 billion a year and will lead to a substantial increase of the EU exports to Japan.

"It also contains obligations to maintain open and non-discriminatory access to international maritime services such as transport and auxiliary services, as well as access to ports and port services," Dorsman reiterated.

"Shipping needs global trade to exist and global trade cannot exist without an efficient shipping industry. Around 90% 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," he concluded.

European Shipowners look forward to the quick ratification by the European Parliament and the Japanese Diet and the efficient implementation of this agreement.

Jul 18, 2018

 

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