Melting ice cap will benefit Rotterdam port: CPB research
One consquence of the melting Arctic ice cap will be the opening of the northern sea route connecting north east Asia with western Europe, and this will benefit the Netherlands, according to researchers at the Netherlands Bureau for Economic Policy Analysis (CPB).
The opening of a northern route will be of particular importance to the Netherlands, given the strategic location of Rotterdam port.
‘Trade volumes with north eastern Asian countries are forecast to increase significantly and can serve as a stimulus for new global value chains,’ the researchers say.
The CPB expects opening the route will boost trade with north east Asia by over 10%, leading to a 0.2% rise in GDP. However, southern and eastern European countries will be disadvantaged by the new route because of the additional competition.
The melting ice means that the route has become accessible during the summer months and a first ship took the passageway to Rotterdam last year.
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