Policy is only gradually moving to address these issues. The economics of port pricing', Maritime Policy and Management, Vol.6, No.3, pp.201-207. A variety of techniques are now deployed, largely derivatives of cost-benefit analysis. A related issue is the institutional one of coordinating transportation investments. Transport is a network sector and efficiency is maximised when network synergies are maximized.
Telecommunications can be both a complement and a substitute for transportation.
The modern transport supplier, be it of freight or passenger services, has adopted a range of new communications technologies to meet customer needs and to minimize costs. Public agencies use intelligent transport systems to optimize the use of highways and transit systems and individuals are increasingly deploying a variety of technologies to avoid congestion and select routings. On the other hand, teleshopping, video conferencing, telecommuting and e-commerce can be a substitute for some types of trip whilst generating others. These factors make the role of traditional transport policy making more complex while at the same time offering a variety of new policy tools to tackle issues such as congestion. The importance of transport was recognized by the EU at the outset with the commitment to develop a Common Transport Policy being one of only two major common initiatives contained in the Treaty of Rome.