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Monday, April 06, 2009

Cyprus: Shipping chamber celebrates twenty year presence

Monday, 06 April 2009

President Demetris Christofias yesterday highlighted the achievements of the Cypriot shipping sector, while addressing the 20 General Assembly of the Cyprus Shipping Chamber which took place in Limassol. “Cyprus today is an international force in shipping and a modern, high-quality and comprehensive shipping network. For a very small and semi-occupied state it is a great achievement that the Cypriot flag flies throughout the globe, while Cyprus’ strong presence in international shipping organizations re-enforces the Republic’s entity and our negotiating power,” Christofias said.
Among the main problems faced by the Cyprus shipping sector is the Turkish embargo to ship’s bearing the Cypriot flag. “The Republic of Cyprus has intensified efforts to stop this illegality at the expense of our country,” Christofias said.
Christofias also assured the shipping sector that the state would address the issue of incentives, including tax conditions, to support the sector’s further development.
“The government’s aim is the continuous provision of incentives –tax and other- within the framework allowed by EU rules and regulations, so that Cyprus not only preserves its leading position in international shipping, but also improves and further develops it,” he said.
The Minister of Communications and Works Nicos Nicolaides also highlighted the importance of providing an encouraging tax framework, arguing that the greatest challenge facing Cypriot shipping is developing a tax framework that is consistent with EU law.
“The Merchant Shipping Department, with the help of the private sector and particularly the Cyprus Shipping Chamber are at the stage of completing a proposal for a new tax framework, which will ensure the protection and improvement of the competitiveness of the Cypriot flag and the attraction of Cyprus as a base for international shipping activity,” Nicolaides announced.
Source: Cyprus Mail