On November 1, 2018, at the Assembly of the International Oil Pollution Compensation Funds, Georgia was elected as a member of the Fund’s Executive Committee for the first time in its history as a member state.
After the 1967 Torrey Canyon incident, the International Responsibility and Compensation Regime was established, which has developed into a successful international mechanism in the subsequent years. The International Oil Pollution Compensation Funds (IOPC) is an integral part of the existing system, created in 1978 to compensate the victims of oil spills, and in 1992 the Foundation Convention entered into force.
Georgia joined the Convention in 2001 and actively participates in the activities organized by the IOPC Funds, and the Funds’ supporters. Georgian supports all related initiatives in the maritime arena. In September 2018, the General Director of the IOPC Funds, Jose Morua, attended the Georgia International Maritime Forum (GIMF 2018).
The executive committee of the IOPC Funds consists of only 15 member states out of 115, now including Georgia. Georgia’s new leadership position will enable the country to become more active in the activities of the foundation.