Nicos Christodoulides stressed the importance of further enriching the Cyprus ship registry in a speech before maritime industry officials, but Vasiliko also came up during earlier talks with European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas.
The European official said that Cyprus can count on his support, citing the approval of an 18-million-euro tranche for the port at Vasiliko, and noting that this was only the beginning.
An increase of 20% in the country’s ship registry over the past two years has led to the achievement of a primary government objective, President Christodoulides later said, ‘the qualitative strengthening of the registry,’ addressing a formal dinner hosted at the Presidential Palace last night on the occasion of the Maritime Cyprus Conference that begun today in Limassol.
“This success is largely due to the strengthening of cooperation with the ship-owning community of Greece and the shipping companies based in Cyprus, as well as the firm support of Cypriot shipowners,” the President stressed.
A strong ship registry strengthens our position on the map and the country’s promotion, he further noted, ‘with ships flying the Cypriot flag traveling to all corners of the earth.’
"And this is even more important for us, a country that has been under Turkish occupation for 51 years," the President underlined, going on to express political will to further strengthen and improve the framework of services Cyprus is providing to shipping companies, "so that we can respond fully and effectively to the demanding operating framework of the shipping industry."
A main priority for the government, he continued, is the strengthening the maritime cluster in Cyprus, which is a strong industry with a multifaceted contribution.
According to the stats cited by President Christodoulides, revenue generated by the ship management sector, during the 2nd half of 2024, amounted to 918 million, corresponding to 5.28% of Cyprus's GDP.
This contribution, he pointed out, compared to the 2nd half of 2023, recorded an increase of 27%, making the ship management sector a growing factor in the Cypriot economy.
At the same time, the increase in companies integrated into the Cypriot tonnage tax system by 15% in the last two years demonstrates the advantages ‘provided by our regulatory framework, as well as the prospects that exist," he stressed.
The President also noted that a shipping cluster is not only ship ownership companies and ship management companies, but all companies that provide similar services in the sector.
‘With policies such as the digitalisation of the services provided but also the strengthening of others, we are convinced that we will succeed in making Cyprus one of the most attractive destinations for these companies," he added.
Referring to the upcoming Cyprus Presidency of the EU, the President said that shipping will be one of the top priorities, with the European Commission is expected to submit its proposal for the new EU Maritime Industrial Strategy, which will be discussed in the context of the Cyprus Presidency.
The Presidency, he said, will also highlight other major challenges in the Shipping sector, including the shortage of merchant marine officers, the need for retraining and upgrading the skills of seafarers, as well as the strengthening of the framework that will allow for equal treatment of women in the maritime labor market.
A relevant declaration is expected to be adopted during the informal Council of Ministers responsible for maritime transport issues, to be held in Cyprus next April.
Christodoulides had earlier held separate talks with International Maritime Organisation General Secretary Arsenio Dominguez, European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas, Minister of Maritime Affairs and Insular Policy of the Hellenic Republic Vasilis Kikilias as well as senior executives of international shipping companies.
According to a Presidency statement, talks with Domingez focused on collaboration between Cyprus and the IMO as well as the current situation in the shipping sector, factoring in regional and international geopolitical developments.
Furthermore, in a meeting with executives of Royal Caribbean, the President reaffirmed the strong partnership of the Republic of Cyprus with the company, one of the largest on a global scale.
They also discussed the prospects for further cooperation in the framework of the National Cruise Strategy.