EU Unveils 'Made in EU' Initiative to Strengthen Local Shipbuilding

EU's Strategy for Local Shipbuilding

BRUSSELS, Feb 3 (Reuters) - The European Commission is set to propose measures designed to ensure more vessels and other goods and services for the European Union's shipping sector are made in the bloc, according to a draft document seen by Reuters on Tuesday.

Encouraging Sustainable Practices

The "Made in EU" proposals will be presented next week, a week before the EU executive announces a broader push to prioritise locally manufactured products, a plan that has split EU countries.

Financing for Ship Owners

For shipping, the draft document says the Commission will encourage public authorities buying ships or equipment to select suppliers based on non-price factors such as sustainability and whether an item is made in the EU.

Upcoming Proposals Overview

This could boost EU manufacturing of ferries, research vessels, icebreakers and tugs, the document said.

In the private sector, demand for EU-manufactured vessels could be encouraged by providing ship owners with easier access to financing, in which the European Investment Bank could play a role.

The EU executive is due to set out proposals on February 10 to enhance the bloc's shipbuilding and shipping sectors and the security and sustainability of its ports, part of an overall strategy to boost competitiveness.

(Reporting by Philip Blenkinsop and Kate Abnett. Editing by Mark Potter)