23rd November 2024 – 29th November 2024
LOCAL NEWS
1. President highlights Cyprus-Greece Summit deliverables and US visas to Cabinet/ Leaders of Cyprus, Jordan and Greece met in Nicosia for trilateral summit
On Wednesday, 27 November took place the second intergovernmental summit between Cyprus and Greece, as well as the fourth Cyprus-Greece-Jordan trilateral summit.
The Greece-Cyprus summit headed by President Nikos Christodoulides and the Greek Prime Minister Kyriakos Mitsotakis, with the participation of ministers. The leaders of Cyprus and Greece also attended the second business conference organised in Nicosia with the support of the Chambers of Commerce of the two countries.
The second Greece-Cyprus Intergovernmental Summit was followed by a Trilateral Summit of Cyprus, Greece, and Jordan. The Trilateral Summit was centered on enhancing trilateral cooperation between the three nations in key areas such as civil protection, connectivity and energy. The Cyprus President, the Jordanian King Abdullah II and the Greek Prime Minister, discussed the potential for joint initiatives and signed several memorandums of understanding (MoUs).
These agreements included a collaboration on water resources, a joint education initiative for the years 2024-2027 and a partnership between Enterprise Greece, Invest Cyprus and the Jordan Investment Commission aimed at fostering investment and economic cooperation during the same period.
On 28 November while addressing a meeting of the Council of Ministers, President Christodoulides referred to the Intergovernmental Summit with Greece, as well as to the issue of Cypriot passport visas for the US.
According to a Presidency announcement, President Christodoulides expressed his gratitude to the members of the Government for the preparations for the second Intergovernmental Summit with Greece.
"It is not only the symbolism, but also the results that have emerged, results that are relevant to the improvement of the daily life of the citizens, which all the policies we pursue have the objective to serve”.
In particular, he highlighted the e-Citizen initiative, the discussion on medicines, which he described as very important, discussions on desalination and transplants, the 112 line, as well as internal governance issues, which he said are a priority.
He added that there was another important development towards achieving the goal of avoiding the need for entry visas for Cypriot passport holders travelling to the US, as he noted that the visa refusal rate for Cypriot citizens fell below the 3% threshold, a prerequisite for a country to participate in this programme.
"Again, this is a cross-cutting issue that many Ministries are dealing with and I would like to thank you for this and call everyone to further intensify our efforts on what is our obligation so that by the beginning of next year, passport holders of the Republic of Cyprus will be able to travel to the US without the need for an entry visa," he noted in that regard.
Related Articles:
Stockwatch 28/11 - President highlights Cyprus-Greece Summit deliverables and US visas to Cabinet
e-Kathimerini 27/11 - Greece, Cyprus and Jordan strengthen cooperation in key areas
Jordan Times 27/11 - King, Cyprus president, Greece PM hold trilateral summit in Nicosia
2. Visit of the of the Deputy Minister of Shipping, Ms Marina Hadjimanolis, to Hong Kong
The Shipping Deputy Minister, Ms. Marina Hadjimanoli, concluded a visit to Hong Kong, where she participated in the Global Shipping and Trade Summit, organised by the International Chamber of Shipping in collaboration with the Hong Kong Government’s Transport and Logistics Bureau and the Hong Kong Shipowners Association, following an invitation from the President of the International Chamber of Shipping, Mr Emanuele Grimaldi.
During the summit, discussions focused on the resilience of the shipping industry during crises, with analysis of the challenges and opportunities facing the maritime industry. While in Hong Kong, the Deputy Minister met with local government officials, as well as representatives of the local and global shipping community, accompanied by the Ambassador of Cyprus to China and the Honorary Consul of Cyprus in Hong Kong. She also had a meeting with the President of the Hong Kong Shipowners Association, where they exchanged views on the challenges faced by global shipping and explored potential synergies for further collaboration.
Related Article:
3. Cyprus ship registry records 14% increase in 2024
During a recent discussion of the Deputy Ministry's 2025 budget at the Finance Committee of the House of Representatives, Shipping Deputy Minister Marina Hadjimanolis highlighted significant growth in Cyprus’s shipping sector. Ms. Hadjimanolis announced that the Cyprus ship registry has seen a 14% increase since September 2023, reflecting the success of the Ministry’s strategic policies. Over this period, 161 ships, with a combined capacity exceeding 4 million tons, were added to the registry.
She further revealed that the Deputy Ministry’s revenue grew by 10% in 2024, marking a strong financial performance. Responding to questions from Committee members, Ms. Hadjimanolis acknowledged challenges posed by Turkey's embargo on ships flying the Cypriot flag. To mitigate this, the Ministry reached out to shipping companies in Asia and America, diversifying its partnerships and expanding its global presence.
Ms. Hadjimanolis also referred to a revenue increase from tonnage tax system, during the discussion of the budget with the members of the Committee. She said that the companies that participate in the tonnage tax system increased by 12% (425 in total) and the tax revenue increased by 15% (€11.5 mln in total).
Furthermore, the Deputy Ministry's 2025 expenses and revenue are balanced, she said. The 55% of the €18.5 mln expenses will be distributed towards the implementation of the main strategic goals of the Ministry and the rest will cover the pay roll and the operational cost. She also noted that one of the larger expenses is the €5.5 mln subsidy for the Limassol-Piraeus ferry, which will continue its operation for three more years.
Related Articles:
Stockwatch 26/11 - Cyprus ship registry records 14% increase in 2024
MonoNews 25/11 - Μαρίνα Χατζημανώλη: 161 πλοία νηολογήθηκαν φέτος στην Κύπρο
INTERNATIONAL NEWS
4. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 1: US Treasury Report for week 23/11/2024 – 29/11/2024
5. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 2: Worldwide Threat to Shipping (WTS) Report, for the period between 23/10/2024 – 20/11/2024
Nothing important to report from the IMO, ILO and the House of Representatives.