| Author (Person) | Smith, Emily |
|---|---|
| Series Title | European Voice |
| Series Details | Vol.12, No.17, 4.5.06 |
| Publication Date | 04/05/2006 |
| Content Type | News |
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Date: 04/05/06 With twice as much coastline as Russia and more than three times as much as the US, the EU has plenty of space to make the most of its maritime industries. And with growth sluggish and millions of Europeans on the dole, Brussels is hoping to persuade citizens their economic salvation is out at sea. The maritime strategy Green Paper will ask governments and interest groups to think of ways to make a relatively successful EU sector even more profitable. Many of the signs are looking good. Around 40% of the world fleet today is European and around 4% of gross domestic product (GDP) comes from maritime industries and services. Rising oil, gas and fish prices net even more money from the sea. EU shipping and transport is probably the most profitable maritime sector, currently thought to be worth EUR 151 billion, with another EUR 13bn turnover from shipbuilding. Marine equipment industries rack up EUR 16bn, while the cruise industry is worth EUR 2.3bn. But in the wider context, even shipping is dwarfed by other sectors such as the EU chemicals industry, with its EUR 360bn turnover last year. The Green Paper hopes to convince Europeans that a re-invigorated maritime policy will bring the Lisbon Agenda goal of boosting jobs and growth back into sight. Drafts of the paper say the thinking behind it "dovetails with the Lisbon strategy". Investing in "[maritime] knowledge and skills", it explains, is "where Europe's future lies, allowing it to bring new, high quality products and services to the market for which consumers are prepared to pay a premium". The Dutch Maritime Network Foundation is one group that claims already to be thinking along the same lines as the European Commission. Set up in 1997, the foundation aims to get sectors from shipbuilding to fishing working together, in the Netherlands at least. Foundation chairman Niko Wijnolst said the time was right for Europe to follow his example. "This is a perfect storm, but in a good way. Everything has come together at the right time. Never in history have we seen such a buoyant maritime sector." He said that growth of around 30% in the maritime sector was driven in part by increased investment in offshore oil and gas exploration, which led to increased demand for equipment and technologies. "This is what Europe is good at; we're the world leaders here. No one else has the expertise and equipment." He said even yacht sales were rising, with more and more young people deciding to spend money on luxury boats. And with 3.5 tonnes of cargo already passing through EU seaports, Europe is also benefiting from increased global trade. "I have been involved in the maritime world for 40 years, in various ways. This is the most optimistic I've ever felt." Article takes a look at Europe's sea-related industries and services and the economic aspect of an EU maritime policy. The European Commission was planning to adopt a Green Paper in June 2006 to start a consultation on a future wide-ranging EU maritime policy. |
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| Source Link | http://www.european-voice.com/ |
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| Subject Categories | Business and Industry, Environment, Mobility and Transport |
| Countries / Regions | Europe |
