Shipping is a valuable asset for Cyprus, with important political and economic advantages, Transport Minister Marios Demetriades stressed, inaugurating a shipping exhibition organised by the Cyprus Shipping Chamber, at the old port of Limassol, on the occasion of the World Day Shipping.

He said the Government aims at the sustainable development of the shipping sector in Cyprus.

The Minister noted that Cyprus is building its reputation as an international business centre by maintaining a high quality fleet and effectively implementing international safety and environmental protection standards.

“Our aim for the future is to consolidate and further develop our role in global shipping and to create conditions for the sustainable development of the shipping sector in Cyprus”.

He said that a series of initiatives and measures taken in recent years by the Ministry have started bearing fruit, as the number of companies operating on the island and the size of the Cypriot fleet have increased.

“All these are the result of concerted effort which must continue at a faster and more effective pace” said the Minister and assured that “there is no room for complacency and we constantly aim for the best, as competition in the industry grows and shipping faces a number of threats”.

Source: CNA (Cyprus News Agency)