The geopolitical realities in the area are rapidly evolving and Cyprus is claiming its rightful place in the centre of these developments, President of the Republic of Cyprus Nicos Anastasiades has said, noting that “new political and economic balances are emerging, connected also with the discovery of energy reserves in our area”.

“The discovery of hydrocarbons in our exclusive economic zone creates new prospects for our country and our national economy” and “offers an opportunity for the development of a whole new industry to meet the needs of these offshore activities”, he said, adding that “these new developments widen the horizons of our shipping industry, creating relevant synergies”.

Addressing the 25th Annual General Meeting of Cyprus Shipping Chamber, the President pointed out that “Cyprus can develop into an important energy centre in the Eastern Mediterranean” and that “new and vibrant shipping and energy projects can be launched and the relevant government policies will definitely include this new exciting perspective in mind, when being developed”.

“Nonetheless, we should also bear in mind that the free movement of goods and raw materials worldwide is essential for the economic development of any country. In this respect, the lifting of the illegal Turkish restrictive measures against Cyprus shipping, in force since 1987, would certainly have a positive economic and political impact. This issue adversely affects European interests and our intention is to seek a solution in line with the EU acquis”, he said.

President Anastasiades assured that the Government “will intensify its efforts towards lifting of the Turkish embargo, which in turn will lead to growth prospects for the Cyprus Ship Registry and consequently growth of Cyprus Shipping in general”.

In his address, President Anastasiades said 2014 marks the 25th Year Anniversary of the Chamber, since its establishment back in 1989, noting that in its 25 years of existence, the Chamber has been transformed into a very important professional organisation, with direct and active participation in the shipping affairs of Cyprus.

“Without a doubt, shipping is an invaluable asset for Cyprus with significant political, economic and social advantages”, the President said, adding that the comparative advantages Cyprus offers to the shipping industry have contributed to Cyprus being ranked as the tenth largest merchant fleet worldwide and the third largest fleet in the European Union.

Furthermore, he said “the Government acknowledges now, more than ever, the important and leading role that the shipping sector has in the recovery of the Cyprus economy”, noting that “foresight, proper planning and hard work are indispensable in our mission to preserve Cyprus’ leading edge”.

“At the same time, the Cyprus Government is well aware of the fact that the local shipping sector operates in a continuously evolving, highly competitive global environment, which in turn requires stability, an essential ingredient for long term planning and investment. For this precise reason the Government is determined to introduce those mechanisms necessary to protect this important sector, as well as to develop and reinforce it further”, he assured.

The President noted that “in this respect, it should be of no surprise that the creation of an Under-Secretary for Shipping constitutes a government priority”, adding that the relevant bill has already been submitted to Parliament.

“Further, it is important to note that shipping has successfully passed the Troika reviews, and the Troika representatives encouraged the Cyprus Shipping Chamber to continue and enhance its efforts, together with the Government and other agencies, such as CIPA, to promote Cyprus Shipping abroad as much as possible. Indeed, we are delighted to see that the strength of the Shipping Taxation System and its benefits are widely recognised and acknowledged”, he added.