EU and China may sign maritime agreement

The European Commission’s Vice President in charge of Transport and Energy, Loyola de Palacio, and Huang Zhendong, Chinese Minister for Transport, have announced their intention to promote a far-reaching maritime agreement between the European Union and China.

The maritime agreement would accordance of national treatment for EU vessels calling at Chinese ports, formal recognition of the right of establishment for EU maritime companies in China, development and facilitation of door to door transport and the multimodal aspects of modern maritime transport services and logistics, freedom to supply services, a commercial presence, free transfer of payments and capital, and maritime co-operation.

“I think it is a historic moment in our bilateral maritime relations. This agreement will help us to consolidate into a legally binding framework the existing commercial maritime practices and develop even further our shipping relations,” said de Palacio.