Government efforts focus on a continuously growing and prosperous Cyprus shipping and a maritime industry unparalleled by others, Communications and Works Minister Tasos Mitsopoulos yesterday, noting that the government upholds shipping as one of its “best kept secrets”, a secret that supports the local economy quietly, efficiently, effectively and sustainably.

In his address at the signing ceremony of a contract for the building eco-friendly bulk carrier vessels by FrontMarine and Lemissoler Navigation, he said that “ when these vessels are put in service, hopefully under the Cyprus flag, they will contribute to the efforts of our Government, and many others around the world, for the development and expansion of a sustainable maritime transport system.”

Such a system, he noted, will provide efficient and effective sea transport, contribute to the reduction of harmful substances in the environment, reduce emissions of various oxides that have proven to shorten the life of people living around busy ports and last but not least, help alleviate the major environmental problem faced by the planet today, that of climate change and global warming.

Mitsopoulos noted that “latest figures prove that shipping is worth more to the global economy than aviation and rail, meaning that the world economy cannot do without it, the European Union economy cannot do without it and thus the Cyprus economy cannot do without it.”

Cyprus’ shipping industry records annual losses amounting to 100 million euro as a result of restrictions imposed by Ankara.

Turkey, whose troops occupy Cyprus’ northern areas since they invaded in 1974, does not recognise the Republic of Cyprus, an EU member. In April 1987 it imposed restrictions on Cypriot flagged vessels and in May 1997 Ankara issued new orders to extend the restrictions to include ships under a foreign flag which had any relation with the Republic of Cyprus

These restrictions disrupt shipping and air traffic, in addition to causing huge financial and other problems. Annual losses for Cyprus’ economy because of the restrictions amounted to 138,5 million euro in 2008, accounting for 1,3 % of the GDP (Gross Domestic Product).