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Cyprus News Agency: News in English, 10-10-05

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From: The Cyprus News Agency at <>




    Government Spokesman Stephanos Stephanou has described the state visit by President of the Russian Federation Dmitry Medvedev to Cyprus 6-7 October, as an historic event that will further enhance existing excellent bilateral relations.

    In statements to the press Tuesday, Stephanou said that the cornerstone of relations between Cyprus and Russia is their political and economic cooperation, noting that the Russian Federation has always been one of the strongest supporters of Cyprus in its efforts to reach a solution of the Cyprus problem.

    Referring to the Russian Presidents state visit to Cyprus, he said it is an historic event of great importance for the country and our people, adding this visit will further enhance the dynamic of development of our bilateral relations which are already at an excellent level.

    Stephanou said that the number of bilateral agreements to be signed during President Medvedevs visit as well as those signed during the Cypriot Presidents state visit to Moscow in November 2008 reflect the dynamic which characterizes the development of the Cyprus Russian relations.


    Government Spokesman Stephanos Stephanou has stressed that the basis of an EU regulation on direct trade with the Turkish Cypriot community, in occupied Cyprus, is legally and politically wrong, pointing out that this is why the government rejects it.

    Replying Tuesday to journalists questions on the matter, Stephanou reiterated that ``the basis on which the direct trade regulation is founded is legally and politically wrong, adding that the EU is well aware of Cyprus position.

    He noted that the proposed regulation is not in line with the EU General Affairs Councils conclusions of April 2004 which refers to the need to support the Turkish Cypriot community in order to upgrade its standard of living and thus help Cyprus reunification. Stephanou pointed out that the proposed regulation does not serve the cause for Cyprus reunification, it rather serves partition, adding that for this reason we are against this regulation.


    The Minister of Finance Charilaos Stavrakis and his Kuwaiti counterpart Mustafa Jassim Al Shamali signed Tuesday an agreement to avoid double taxation.

    Speaking after the signing of the Treaty, in Nicosia, Stavrakis said that the Double Taxation Treaty is an important and necessary step in maintaining and expanding the economic and commercial relationship between the two countries.

    Noting that Kuwait has always been a supporter of Cyprus and that economic links between the two countries have been excellent, Stavrakis pointed out that the Kuwaiti Investment Authority, which is one of the biggest global investors, is investing throughout the world. Stavrakis said that his counterpart has expressed an interest in investing in Cyprus, either through the Kuwaiti Investment Authority or the private sector. We are also trying to convince Cypriot businessmen to expand their businesses in Kuwait, he added.

    Al Shamali said that the agreement is considered as cornerstone of new investment here in Cyprus. With signing this agreement we have made our first step forward to have some more relations in the investment field, he stressed. We think that in Cyprus there are a lot of opportunities that we have or we can do together, either with the government of Cyprus or directly with the private sector, he said, noting that the atmosphere of investment here is very encouraging.

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