It is with great satisfaction that I welcome the passage of the bill providing for the establishment of a Commercial Court and a Maritime Court by the Plenary of the House of Representatives.
We have given the citizens and the economy of the country two very important specialized courts, which will play an important role in the long-term economic development of the country, enhancing the competitiveness of Cyprus as a center of high-quality service provision.
These two Courts, precisely through their specialization, will effectively assist in the immediate resolution of important commercial and all maritime disputes, while absorbing a significant number of cases from the District Courts, thus helping to reduce the time for the administration of justice.
At the same time, combined with the possibility of using English language, which has already been approved by the Plenary of the Parliament through an amendment to the Constitution, they will enhance the attraction of foreign investment and contribute to the emergence of Cyprus as an international centre for commercial and maritime court settlements.
I would like to thank the Chairman and members of the Legal Affairs Committee for the constructive discussion that took place in a climate of goodwill and cooperation, all the political forces that supported the bills, as well as the Legal Service for their immediate and valuable assistance.
(EC)
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