European maritime ministers sign pact to boost shipping competitiveness

During the 9th Trilateral Meeting of maritime ministers in Limassol, representatives from Cyprus, Greece, and Malta, with participation from Italy, signed a declaration to bolster the competitiveness of European shipping.

Greek Shipping and Island Policy Minister Vassilis Kikilias emphasized that shipping decisions directly influence the prices of food, energy, and products for European families. He noted that since 90% of global trade is conducted by sea, maintaining a competitive maritime sector is vital for both the European and global economies.

The joint effort aims to promote economically efficient and internationally applicable measures through negotiations within the European Union and the International Maritime Organization (IMO). Kikilias highlighted that regional instability and conflicts are creating additional challenges for global shipping, necessitating prudent, long-term planning to ensure Europe remains a leading force in the sector.