articles | 26 February 2014

Cyprus' shipping remains strong, Minister says

Cyprus' shipping remains strong, despite the shock caused in the country’s economy, Communications and Works Minister Tasos Mitsopoulos says.

According to an official announcement, the Minister said that Cyprus’ ship registry has not shrunk, despite intense competition and the embargo Turkey’ imposes on Cyprus shipping. Mitsopoulos noted the promising prospects for growth, created with the discovery of natural gas reserves in the Republic’s exclusive economic zone. He said however that the right planning must take place concerning the next steps for Cyprus shipping. The Ministry, he added, will present soon to the Cabinet its strategic plan for 'Blue Growth', comprising one of the priorities for the country’s Integrated Maritime Policy.

Source: Famagusta Gazette

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