President Christodoulides reaffirms commitment to Cyprus Shipping at Chamber’s 36th AGM

President Nikos Christodoulides opened the 36th Annual General Meeting of the Cyprus Shipping Chamber by highlighting the profoundly important and catalytic role of shipping in Cyprus’ economy.

He emphasised that the sector significantly contributes to the country’s economic development and sustainability. He expressed his commitment to maintaining this positive momentum and wished for continued, long-lasting cooperation between the government and the Chamber. Christodoulides underlined the government’s firm commitment to supporting the maritime sector, noting a 15% increase in the number of companies registered under the tonnage tax system. He pledged to continue efforts to expand the industry's horizons.

The President also mentioned a recent visit to New York, where several companies expressed interest in investing in Cyprus' maritime sector and in strengthening the country's voice in international forums. Shipping cooperation was also a key focus of his recent visit to Finland, where he reaffirmed the government's continuous efforts to enhance the competitiveness of Cyprus shipping.

Following a demanding and challenging period in 2024, he described this year as promising also noting that the Port of Limassol has been selected as a cruise destination in the Mediterranean, and there is hope that Cyprus will develop into an attractive hub for cruise ships. He also noted growing interest in establishing passenger maritime links with neighbouring countries, further enhancing sea connectivity.

The President acknowledged the challenges facing the industry—from geopolitical turbulence and environmental regulations to a shortage of skilled personnel. He stressed that the EU shipping industry remains a strategic and economic pillar of the global maritime landscape.

He also warned of the negative effects of protectionism and climate change, emphasising the need to maintain the sector’s competitiveness and called for a solid and concrete policy framework that reflects the unique nature of the shipping industry.

Looking ahead, Cyprus’ upcoming presidency of the Council of the European Union will prioritise the shipping sector as a national and regional priority. Finally, President Christodoulides congratulated the newly elected Board of Directors for the 2025–2027 term, elected during the Chamber’s closed session.