Global Regulatory Summit Gathers Officials from USA, China and European Commission

Maritime regulators from the United States, the People’s Republic of China (PRC), and the European Commission met and conferred in Washington, D.C. on Tuesday to consider the evolving international maritime landscape. The officials had open and candid discussions on their differing regulatory frameworks and the potential effects of carrier cooperation on international trade.

The EU delegation was led by Mr. Hubert de Broca, Head of Unit, Directorate General for Competition, Antitrust-Transport, Post and Other Services and Mr. Li Hongyin, Deputy Director-General, Bureau of Water Transport, Ministry of Transport headed up the Chinese delegation. FMC Chairman Mario Cordero led the U.S. delegation, with the participation of each of the FMC Commissioners.

During the morning session, the Commission’s Bureau of Trade Analysis staff provided a general briefing on the FMC’s 45-day agreement review process and on-going monitoring program. Staff noted factors considered in its analysis and tools available to the Commission to administer its oversight responsibility. The PRC and EU delegations also provided an overview of their respective regulatory regimes. The Summit continued during the afternoon with separate meetings between the delegations and FMC Commissioners.

Chairman Cordero stated “I called for this Global Regulatory Summit given the rapidly changing face of the international maritime sector demands ‘out of the box’ thinking. The scope and size of the changes taking place provides an opportunity for our respective governments to dialogue and share our views on global regulatory challenges, and the impacts to international trade. I thank my colleagues in China and Europe for their participation. From this Summit, I believe we all have a better understanding and appreciation for our respective legal regimes and views on global implications of the international maritime sector that we regulate.”

Mr. Li stated that “We are very glad to have been invited by the FMC to attend the Summit. The United States, EU, and China are important economies in the world, and maritime transport plays a very important role. Ninety percent of China’s foreign trade is carried by sea. The sustainable growth of the maritime sector is of great importance to China and globally, and it is our common duty to protect the sound development of maritime transport. Through this summit we exchanged ideas about the maritime regulatory policies and rules and continue to strengthen our partnership.”

Mr. de Broca stated “We welcome the opportunity to discuss our comparative regulatory regimes. Discussion is the best vehicle we have to share our collective expertise given that we each have different tools. We thank the FMC for initiating this summit and inviting us to participate what has been an informative dialogue.”

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Federal Maritime Commission, December 20, 2013