The European Community Shipowners' Associations (ECSA) welcomed the focus of the European Commission's new Competitiveness Compass on competitiveness and open trade as prerequisites for the continent's security, resilience, and growth, according to ECSA's release.
"The Competitiveness Compass highlights that Europe’s security depends more than ever on our ability to innovate, compete and grow. It also lays out a pathway to a competitive industry by closing the innovation gap and by investing in clean tech and clean fuels. The shipping sector is an essential part of our economy’s energy transition. We welcome today’s explicit recognition of shipping as a key sector to Europe’s growth and the commitment to scale up the production of clean fuels for shipping under the upcoming Sustainable Transport Investment Plan," said Sotiris Raptis, ECSA Secretary General.
The Compass recognizes that shipping moves around 76% of the EU's international trade, playing a crucial role in energy, food, and supply chain security.
"We support today’s reference to open trade as a key driver for EU’s prosperity, resilience and growth," added Raptis.
The Compass also emphasizes the need to simplify processes for businesses.
ECSA welcomes the Commission's commitment to reduce reporting burden by at least 25% for all companies and at least 35% for SMEs, which are the backbone of the European shipping industry.