Common Contracts
1 similar BBNJ Agreement contracts
Shipping andBBNJ Agreement • August 29th, 2020
The shipping industry supports economies worldwide by transporting raw materials, oil and gas and other products to industries, businesses and homes. Within the Caribbean, maritime transport remains the most feasible mode of transport for goods for export and import such as petroleum products, bauxite, cement and other raw materials. The Economic Commission for Latin America and the Caribbean (ECLAC) reports that Caribbean’s level of foreign trade amounts to as much as 78% of its Gross Domestic Product (GDP) as compared to 25% for Latin America. The shipping industry is instrumental for economic development and facilitates the continuous growth of trade and improvement of living standards.
