The European Union (EU) has 1200 ports and the world's largest merchant fleet and 90% of the EU's foreign trade and 40% of its internal trade takes place by sea. The EU's maritime policy integrates aspects as wide-ranging as fisheries, employment, transport, research, environment, offshore energy and tourism. The common fisheries policy (CFP) manages fisheries and aquaculture and is based on Articles 38-43 of the Treaty on the Functioning of the European Union. Its main aim is to ensure sustainable fisheries and put an end to wasteful fishing practices, as well as creating jobs and growth in coastal areas. The most recent reform of the CFP entered into force in January 2014.