The European Commission welcomes the landmark agreement reached by the European Parliament and the Council of the EU on a common European framework for seaports. The objective of the Ports Regulation is to strengthen the European port sector by attracting new investments and enhancing the efficiency of port operations for the benefit of Europe's trade, economy and global positioning. Seaports are Europe's gateway and their competitiveness is critical for the internal market. 75% of extra-EU goods and 37% of the intra-EU freight traffic are shipped through European ports. The Ports Regulation therefore will deliver on the key priorities of President Jean-Claude Juncker.