Cyprus: Shipping sector holding its head above water
Monday, 30 April 2012 | 14:30
The global economic crisis continues to have a negative effect on shipping, the president of the Cyprus Shipping Chamber said.
Addressing the Chamber’s 23rd annual assembly, Captain Eugen Adami, said that despite the serious difficulties, Cyprus shipping had managed to maintain a significant contribution - 7.0 per cent of the gross domestic product (GDP).
He said the shipping industry’s contribution to the economy could be reinforced if the Chamber’s three key suggestions are adopted: the creation of an “undersecretary of shipping”, the promotion and expansion of the new shipping tax system and the lifting of the Turkish ban on Cypriot ships.
Adami said he was convinced that if these three suggestions were adopted, Cyprus shipping was in for a “promising and positive” future.
The assembly was joined by state officials, including Communications Minister Efthymios Flourentzou who relayed President Demetris Christofias’ speech, and House President Yiannakis Omirou.
Source: Cyprus Mail
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