THE ‘MARITIME POLICY’ – VITAL ECONOMIC TOOL FOR FOREIGN TRADE & SHIPPING ROUTES
The subject tool – ‘maritime policy’ in this context is rather a medium designed to usher us fully into global trade aimed at shipping business while focusing primarily on the maritime axis. Hence a unique economic element that focuses on the entire sphere that expresses the attitude of the state of shipping. However, the subject tool which cuts across a number of national needs is inarguably shaped under conditions of multiple objectives which is also unique in a way and subject to divine interests in order to ensure that different economic, markets, and other national needs within this axis are met. In fact, it practically points’ at carriers and international freight markets, therefore, one should be poised to have its fair share.
It should be noted that from the onset the sea as one unique part of the mother earth has remained a huge source of our livelihood, an indication that nature has proven its capacity in all vectors and domains of life while ensuring a smooth, safest, and cheapest means of global supply chain with the aid of ever-growing and cutting-edge technology deployed on sea crafts. Yet, this ecological sphere with its abundant resources has remained a battleground among global powers and top economies, and based on this, the quest for dominance and supremacy aimed at – ‘who controls the sea’ couldn’t have been viewed from a different perspective other than core priority of these entities.
“Whosoever commands the sea commands the trade; whosoever commands the trade of the world commands the riches of the world and consequently the world itself”.
Although the quest for dominance isn’t anywhere close to our intent regarding this context but to ensure the uninformed and interested persons are braced and powered with this rare knowledge that promises to unfold the hidden facts about global maritime and freight business, in the same vein, ensure that interested persons (shipping experts and the uninformed) have their fair share regardless of their geographical location. Noting that the state of healthy shipping is often dependent on policies precisely – maritime policy.
Going forward, a sphere like the maritime is practically a unique ecological sphere in all dimensions, with a sub-sector that is overwhelmingly loaded with lots of opportunities, however, global trade routes and nation’s economic sector regarding the subject axis have remained resilient in proving its capacity. Therefore as ships continue to grow in size with more sophisticated technology while paving way for interested persons that are passionate about shipping and maritime business. However, in another dimension, the maritime policy is rather a tool that seeks to protect a nation’s and indigenous firms with the aid of protective measures that are adopted for both local and foreign trade.
In most economic adventures or initiatives, capital if not in all cases has remained a huge challenge. But what about credit! Most of us are scared of credit due to high interests rates, however, here is a breakthrough regarding maritime and shipping business that most of us are not aware of, and that is subsidies. It will interest you to know that credits are heavily reduced for foreign purchases and freight rates, training, and a lot more are backed and subsidized in this sphere by the government. This ensures that barriers associated with foreign trade via the maritime axis aren’t a concern.
Based on findings, it’s been figured out that most developed countries in a bid to ensure that their shipping industry to be precise remain resilient, hence, a good number of protective measures are deployed. Which cut across the reservation of coastal trade, various forms of freight license control, reduced tariffs, reservation of some specific freights, and more are specifically reserved for ships flying her flag or perhaps under a flag of convenience. With these freight and shipping business is made easy and beneficial to interested citizens since a bunch of factors that could pose a challenge is addressed based on government provision.
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