EU Ministers of Transport and Telecommunications widely acknowledged the enormous economic and social potential of opening up public data for re-use and especially in the case of transport data, as it could be a source for innovative products and services and a real engine for economic growth and job creation. "Transport data is of great commercial value and offers plenty of potential for re-use. This re-use on transport data can significantly contribute in making transport more efficient and reliable", the Minister of Communications and Works of the Republic of Cyprus Mr Efthymios Flourentzou underlined. During the informal meeting, ministers also decided to push for the development of a pan-European Open Data Portal and agreed to incorporate their own national open datasets. "The development of a pan-European Open Data Portal will contribute to the establishment of new and innovative services for the European society, which will make access to data from across Europe much easier,"Mr Flourentzou emphasised. The Cyprus Presidency, along with the EU ministers, also stressed the fundamental role that data plays in developing and providing related Intelligent Transport Services (ITS) and highlighted the need of ensuring the availability of, and accessibility to this data. "By acknowledging that open data is the oil of the digital age, we have to make sure that open data can actually fuel to the expectable extent and even beyond such important initiatives like Smart Transport", the Vice President of the European Commission Mr Siim Kallas underlined. Ministers invited the Commission to jointly explore ways to improve access and re-use of transport data. See also Presidency conclusions.