It gives me great pleasure to be present tonight at the official dinner of the Cyprus Shipping Chamber, among so many distinguished friends and guests. This event has now become an annual tradition and provides the opportunity for the strengthening of social relations between the officials of the Cyprus shipping industry and our country’s state officials.

Tonight’s event also gives me the opportunity to reiterate the state’s appreciation for all of you, the Cyprus shipping officials, who for years now have faith in the Republic of Cyprus and our flag; to express the state’s respect towards all of you, who with your activities contribute to the impressive development of the Cyprus shipping industry. The Government attributes great importance to the Shipping Sector as one of the important pylons of growth, but also as a powerful pillar of the Cyprus economy. The relations between the Government and the Cyprus Shipping Chamber have been built on this basis and can only be described as excellent and mutually beneficial.

Last year we celebrated together 20 years since the establishment of the Cyprus Shipping Chamber. In more than 20 years of existence, the Cyprus Shipping Chamber has been transformed into a significant organisation with direct and active involvement in the country’s shipping affairs. It has distinguished itself as a trustworthy interlocutor and consultant of the Government on shipping issues, assisting the Cyprus state to improve its infrastructure, its policies and its procedures, so that Cyprus can respond to the contemporary needs of international shipping.

Undoubtedly, Cyprus constitutes today an international shipping power and an overall modern, quality and comprehensive shipping complex. The effects of this period in the growth of the economy are important, but equally important are the results in the political problem of Cyprus. The ships under the Cyprus flag carry all over the world the emblem that consolidates the existence of the internationally recognized Republic of Cyprus.

Dear Friends,

We should never forget that, despite its economic development, our small island is partly under occupation. With the Cypriot flag flying across the globe, and Cyprus’ presence in international shipping organisations, the entity of the Republic of Cyprus is reinforced. Moreover, the extensive presence of foreign investments in Cyprus creates conditions of enhanced security, while the foreign employees of shipping companies in Cyprus become the best envoys of our national problem abroad.

Merchant shipping is a sector of very big challenges and opportunities. It is these opportunities and challenges that the Cyprus Government, in close cooperation with the competent organizations, managed to tackle and utilise with insight, accurate planning and hard work. This is why our actions have yielded the relevant positive results.

We know that the global economic crisis has affected the sector of shipping, and that these difficult times are a challenge for the shipping industry. The aftermath of the crisis is still evident around us. However, we note with great satisfaction that the shipping industry in Cyprus has managed, through timely and well-planned actions, to assuage these adverse effects.

The Cypriot shipping industry has absorbed the negative results of the crisis and is looking towards the future. On the basis of a meticulously structured action plan, aiming at the constant offer of tax and other incentives, and always within the framework of EU regulations, Cyprus is at the threshold of a huge accomplishment on the international shipping scene. The new shipping tax framework, which will also be approved very soon by the European Union, will certainly provide additional momentum acting as a national counterbalance to the consequences of the international crisis.

We also recognize the international problems faced by shipping and particularly the cases of piracy in the wider Indian Ocean. We will continue working at all international fora to ensure that the necessary measures are taken to resolve this serious problem and for the principle of the Freedom of the Seas to be imposed. This principle is of vital importance for world trade and the international economy, in spite of the fact that the Cypriot shipping is still facing Turkey’s illegal embargo.

Dear Friends,

The Government gives special emphasis to dialogue, the exchange of views and the involvement of all parties in the process of taking decisions that concern them. I assure you that the current collaboration between the State and the private sector as regards shipping issues will not only continue but will further expand. Cyprus has the experience and the capabilities to continue to provide high-level shipping services and elevate further its position as an extremely significant shipping hub with state-of-the-art infrastructure. Furthermore, it can offer the necessary human resources which are of the highest business standards.

I congratulate the Cyprus Shipping Chamber for its comprehensive contribution to the Cypriot shipping industry in general and specifically, for organizing this annual event.