FMC to Discuss Chinese VAT, Proposed Vessel Carrier Alliances
The Federal Maritime Commission will hold a partially open meeting Feb. 26 in Washington, D.C. The open session will include an update on China’s decision to exempt shipping transportation from its recently implemented value-added tax law as well as a discussion of the FMC’s information resources management strategic plan and a staff recommendation concerning third-party subpoena.
During the closed session FMC staff will provide a follow-up briefing on the Commission’s Dec. 17 global regulatory summit with China and the European Union. This summit focused on carrier alliances, vessel sharing agreements and the impact of operational agreements on international trade, particularly in the context of proposals to create the P3 Network Vessel Sharing Agreement among the world’s three largest container carriers and expand the G6 Alliance Agreement among six major ocean carriers. While the FMC has been reviewing these proposals closely due to concerns about their effects on consumer interests, press reports indicate that both are likely to be approved.