EU's 'Made in EU' Initiative Set to Anchor Shipping Industry

The European Commission plans to propose 'Made in EU' measures to boost the EU's shipping sector. The draft suggests prioritizing EU-made ships and goods for public procurement, encouraging private sector demand through financing, and aims to enhance shipbuilding, shipping sectors, and port sustainability for competitiveness.

The European Commission is gearing up to unveil new measures aimed at bolstering the EU's shipping sector by promoting domestically made vessels and goods. According to a draft document obtained by Reuters, these 'Made in EU' proposals are expected to be presented next week.

The initiative will seek to guide public bodies towards selecting ships and equipment suppliers based on sustainability and EU manufacturing status rather than price alone. This approach is likely to support the production of a range of vessels including ferries and research ships within the bloc.

For the private sector, the Commission plans to enhance demand for EU-manufactured vessels by facilitating access to financing, potentially involving the European Investment Bank. These efforts form part of a larger strategy, set to be detailed on February 10, to strengthen the EU's shipbuilding industry and port sustainability, ultimately boosting competitiveness.

(With inputs from agencies.)