Cypriot and Greek shipping is crucial for Europe, President Nikos Christodoulides said on Tuesday night as he said the two nations will work together to bolster the sector.

Speaking at the Cypriot Shipping Forum in Limassol, Christodoulides emphasised that the sector accounts for seven per cent of the Republic’s GDP.

The president said he will discuss ways of meeting ongoing challenges within the sector with his Greek counterpart, stating that the significant role both Cyprus and Greece play in the shipping sector must be highlighted within the EU.

“When we’re discussing European shipping what we’re in essence talking about is Cypriot and Greek shipping,” Christodoulides said.

He added that he will discuss common actions to be taken with Greece when he visits the country next week.

“I have the opportunity to discuss the government’s plans, specifically for the first six months – some actions which must be taken to bolster to an even greater extent the Cypriot shipping sector, to tackle some issues, some problems which exist,” he said.

The president said that while the sector is of critical importance it is also facing challenges, and as such, these must be tackled collectively.