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Shipping Deputy Minister says companies show increased interest in Cyprus after Brexit

April 19, 2019 at 10:21am

Shipping Deputy Minister, Natasa Pilides said that there is increased interest by shipping companies to set a base in Cyprus after Brexit, in order to maintain the EU status and for easier trading with the EU market.

Speaking at the 9th Nicosia Economic Congress, Pilides said that Cyprus could provide these companies with stability and security and expressed optimism that the country would hopefully increase the ships registered under Cyprus flag.

Pilides also said that her deputy ministry aims at strengthening international relations, enhancing maritime safety and environmental protection and developing a blue growth strategy by offering opportunity for blue careers. She added that Cyprus was also aspiring to upgrade services provided in the industry with digitalization and automatization and to embrace innovation and research.

Referring to further actions, to safeguard competitiveness, she referred to a strategy for a smooth and successful prolongation of the Cyprus tonnage tax system, rationalization of merchant shipping fees and taxes, revising government policy on registration of ships under the Cyprus flag, reduction of bureaucracy and the creation of one stop service.

(Cyprus News Agency)