On November 1, 2018, at the Assembly of the Oil Spill International Compensation Fund, Georgia was elected as a member of the Fund’s Executive Committee from 115 member states for the first time in its maritime history.
After the 1967 Torrey Canyon incident, the International Responsibility and Compensation Regime was established, which turned into a successful international system after years. International Oil Pollution Compensation Fund (IOPC) is an integral part of the existing system, created in 1978 to compensate the victims of oil spills while in 1992 the Foundation Convention entered into force.
Georgia joined the Convention in 2001 and the country is actively participating in the activities organized by the IOPC Funds, and the Fund representatives support all the initiatives in the maritime direction. In September 2018, the International Maritime Forum – GIMF 2018 that was held in Georgia for the second time was attended by the IOPC Director General, Jose Moura.
It should be noted that the Executive Committee of the Oil Spill International Compensation Fund consists of only 15 out of rest of the member state and since 2018, Georgia will be among those 15 countries, which will enable the country to become more active within the foundation activities.