11 December 2019

Shipping is key to achieve economic growth in the Central and Eastern Europe and China

Shipping in the 17 + 1 countries for the sake of being an important source of employment and income has always been the key to achieving prosperity and economic growth. In Europe, almost 5 million people find employment in the maritime and fishery sectors.

In the People’s Republic of China – the fastest growing economy in the world, sea transport accounts for over 90 percent of the country’s foreign trade. According to a report from the Chinese Maritime Bureau, the country had nearly 1.58 million registered seafarers at the end of last year, the largest number in the world.

In recent years, the growth of the world economy and international trade in goods has fueled the demand for maritime transport services. Polish ports are starting to achieve record results in terms of the volume of transshipment. The Port of Gdansk may soon enter the top three of the largest ports on the Baltic Sea.

The Polish economy is currently undergoing intensive changes. According to the latest forecast of the Organization for Economic Cooperation and Development – OECD, Poland is already becoming the 4th fastest-growing country in the world in terms of GDP growth, leaving ahead only: India, China and Indonesia. The Polish economy is to grow at a rate of 4.5% of GDP while forecasts for the European or global economy are being lowered. This result definitely exceeds the average for all OECD member countries, which is at the level of 1.8%, thus giving Poland a leading position in terms of GDP growth rate. Importantly, thanks to the inflow of EU funds and accommodative monetary policy, acceleration of investment is expected, in particular in sea ports.

Investments in Polish ports can reach up to 30 billion PLN. It is possible that Chinese investors will also be involved in the development of seaports and river navigability in Poland. As you know, the Chinese authorities link the future of the Middle Kingdom with modern technologies, services and renewable energy. And the further development of the maritime industry will depend on the ability to attract qualified personnel and diversity in employment.

Without highly qualified women, shipping – a global trade engine – will not work well, “said Cao Desheng, director of the maritime office at the PRC Ministry of Transport.

It can be expected that this will translate in some way into our labor market. Therefore, an increase in demand for high-class specialists (especially women) in these areas should be expected.

The observed economic growth is a real opportunity to rebuild the Polish maritime industry, and thus to increase employment, not only women but also young people and other people in a difficult situation in the maritime sector (e.g. fishermen). In the context of sustainable development goals, this is undoubtedly positive information.

Publication: Patrycja Zając

Photo: pixabay