Cyprus and Italy Explore New Opportunities for Shipping and Port Investment

Cyprus and Italy sought to deepen cooperation in the blue economy at a business forum in Limassol, focusing on shipping, port infrastructure, logistics and sustainable maritime technologies. The Italian ambassador said that vessel traffic through the Suez Canal had fallen by about 70% compared with 2023, and mentioned the India-Middle East-Europe Economic Corridor (IMEC), which Italy supports. European Commission official Kadis referred to the International Ocean Eyes Alliance, launched by the EU and Canada, which has more than 30 participating countries and has pledged about €220 million in funding and resources.