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(CNS): Financial Services Minister André Ebanks travelled to Athens, Greece, last week to support Maritime Authority of the Cayman Islands (MACI) CEO Joel Walton and his staff in meetings with members of the Greek shipping community. The trip was part of MACI’s year-long celebrations of the 120-year anniversary of the Cayman Islands Shipping Registry and comes as Cayman works on modernising its maritime sector and the legislative framework to attract more international business.
“These meetings come at an important time, where we are maintaining our good international standing with regards to tax, finalising a modernised Merchant Shipping Act to assist with the enhancement of our maritime-related business, while celebrating the 120th anniversary of our Shipping Registry,” Ebanks said.
“I’m optimistic that the result of these meetings will lead to stronger maritime ties and new international shipping business opportunities for our Maritime Authority,” he added.
Ebanks also headed across to Spain, where he met with European officials to talk about international tax cooperation and other regulatory updates ahead of the important Financial Action Task Force (FATF) Plenary in Paris at the end of this month. In Madrid, the minister met with Maria José Garde, the Spanish General Director of Taxation and Chair of the EU Code of Conduct Group, among others.
At the end of this month, Ebanks and Attorney General Samuel Bulgin will attend the FATF Paris meeting to represent the Cayman Islands during the proceedings, which will determine whether or not this jurisdiction will finally be removed from the FATF grey list of places with anti-money laundering and counter-terrorism financing deficiencies. Ebanks will also attend the 2023 EU Tax Symposium in Brussels during his second European trip this month.
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