De­lim­i­ta­tion of mar­itime bound­aries dis­cussed at WISTA Cyprus meet­ing

Financial Mirror (Cyprus) - - FRONT PAGE -

Re­tail trade turnover vol­ume and value in­dexes were down 7.8% and 6.7% re­spec­tively in Fe­bru­ary, ac­cord­ing to the Cyprus Sta­tis­ti­cal Ser­vice.

The Turnover Vol­ume In­dex of Re­tail Trade for Fe­bru­ary 2014 amounted 72.5 units, drop­ping 6.1 units or 7.8% com­pared to 78.6 in Jan­uary. The In­dex fell by 1.6 units or 2.1% com­pared to Fe­bru­ary 2013.

For the two-month pe­riod Jan­uaryFe­bru­ary the In­dex recorded a de­crease of 2.7% com­pared to the same pe­riod of 2013.

Ac­cord­ing to pro­vi­sional es­ti­mates, the Turnover Vol­ume In­dex of Re­tail Trade for March in­creased by 3.8 units or 5.2% to 76,3 units com­pared to 72.5 in Fe­bru­ary.

For the pe­riod Jan­uary-March, the In­dex is pro­vi­sion­ally es­ti­mated to fall by 0.7% com­pared to the cor­re­spond­ing pe­riod of 2013. At the same time, the Turnover Value In­dex of Re­tail Trade for Fe­bru­ary amounted 74.8 units, record­ing a drop of 5.4 units or 6.7% com­pared to 80.2 units in Jan­uary 2014.

The In­dex fell by 2.9 units or 3.7% com­pared to Fe­bru­ary 2013.

For the pe­riod Jan­uary-Fe­bru­ary the In­dex recorded a drop of 4.6% com­pared to the cor­re­spond­ing pe­riod of 2013.

Ac­cord­ing to pro­vi­sional es­ti­mates the Turnover Value In­dex of Re­tail Trade for March was up by 4.9 units or 6.5% to 79.7 units com­pared to 74.8 units in Fe­bru­ary.

For the pe­riod Jan­uary-March the In­dex is pro­vi­sion­ally es­ti­mated to have a de­crease of 2.6% com­pared to the cor­re­spond­ing pe­riod of 2013.

Mem­bers and friends of the Women’s In­ter­na­tional Ship­ping and Trad­ing As­so­ci­a­tion (WISTA Cyprus) dis­cussed the hot topic of the de­lim­i­ta­tion of mar­itime bound­aries dur­ing their re­cent con­fer­ence, pre­sented by Mar­i­anna Char­alam­bous, with a Ju­ris Doc­tor­ate in In­ter­na­tional Law and an LLM in Oil and Gas. Dur­ing the meet­ing, Char­alam­bous, who is an ex­pert in the de­lim­i­ta­tion of mar­itime bound­aries and a mem­ber of WISTA Cyprus, out­lined the United Na­tions Con­ven­tion on the Law of the Sea and the in­ter­na­tional law cur­rently ap­pli­ca­ble in the de­lim­i­ta­tion of mar­itime bound­aries. She pre­sented the con­flict­ing claims cur­rently in the Mediter­ranean and as­sessed their va­lid­ity in lieu of the ap­pli­ca­ble law. “A de facto sit­u­a­tion un­der the law never ac­quires a de jury sta­tus with­out the con­sent of the af­fected party,” she noted, “there­fore, the only le­git­i­mate en­tity to grant a li­cense for ex­plo­ration in the Cyprus mar­itime zone in­clud­ing up to 50% the dis­tance be­tween the Cyprus and Turk­ish coasts is the Repub­lic of Cyprus.” She urged that we con­sider the pos­si­bil­ity of large hy­dro­car­bon re­serves found north of Kyre­nia and the im­pact of such finds on the is­sues cur­rently faced by this is­land. Af­ter her pre­sen­ta­tion, the au­di­ence con­tin­ued with a lively dis­cus­sion.

An­other sub­ject that was also dis­cussed was the prepa­ra­tion for the 34th WISTA In­ter­na­tional AGM and Con­fer­ence that will be held in Li­mas­sol on Oc­to­ber 8-10 of this year. Many spon­sors and speak­ers have al­ready been an­nounced and can be found on the con­fer­ence web­site

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.