The maritime sector currently contributes up to 14billion to the UK economy
London’s crucial central role in the global shipping industry was highlighted when members of the international maritime community and representatives of the UK Government gathered to officially launch the first ever London International Shipping Week (LISW) last night.
Norman Baker MP, Parliamentary Under Secretary of State for Transport, spoke of the important role maritime business plays in both the UK and global economy as he addressed more than 100 guests gathered at the London offices of Norton Rose Fulbright, overlooking the Thames at sunset.
“The maritime sector currently contributes up to 14billion to the UK economy,” he told guests, who represented all sectors of the UK’s maritime community including regulators, banking, broking, insurance, legal and shipping associations. He also pointed out that employment in the UK shipping industry has continued to grow despite the recession and has increased by 100% since 2004.
Pledging that the UK’s Coalition Government “is keen to foster a closer and more co-ordinated partnership with both shipping and the wider maritime industry”, Mr Baker revealed that it has established a maritime strategic partnership to bring together key Government departments and industry champions to focus on maximising growth and opportunities while maintaining a stable fiscal and regulatory environment. “The contribution of the maritime industry to the life and economy of the UK is fully appreciated at the highest levels of government,” he said.
The Minister also revealed that the UK’s ratification of the Maritime Labour Convention is expected to be formalised by the International Labour Organization next week.
For the latest up-to-date information on London International Shipping Week please see the dedicated event website: www.londoninternationalshippingweek.co.uk
