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Cyprus News Agency: News in English, 10-10-14

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From: The Cyprus News Agency at <>




    President of the Armenian National Assembly Hovik Abrahamyan is in Cyprus for an official visit, aiming at deepening ties between the Parliaments of the two countries. In statements on arrival at Larnaca International Airport, Abrahamyan spoke of the excellent relations between the two countries in various fields.

    Recalling the strong Armenian community in Cyprus, he said that he already ``feels like home.`` ``With this visit we will do our utmost to improve and expand our cooperation,`` he said, speaking through an interpreter, pointing out that the President of Armenia will pay an official visit to Cyprus this coming January.

    Welcoming Abrahamyan, Marios Garoyian, President of the Cyprus House of Representatives, of Armenian origin, described his Armenian counterpart as ``a very good friend of Cyprus,`` who ``believes in and promotes the relations between Cyprus and Armenia as well as the relations between the Armenian and the Cypriot Parliaments.``


    Minister of Commerce, Industry and Tourism Antonis Paschalides has said that ``Cyprus has justifiably earned an enviable reputation as a business gateway linking Europe, the Middle East, Africa, and Asia,`` adding that ``the active presence of so many investors originating from so many countries bears testimony to this fact.``

    Addressing the First Annual Regional Franchise Conference, in Limassol, Paschalides noted that ``our core and common mission is to reinforce, among the business and investment communities of North and South America, Europe, the Middle East, Africa and Asia, the real and clear benefits that this beautiful island offers so that even more companies and investors grasp the rewarding business opportunities that are available in Cyprus.``

    ``Cyprus has developed into an important regional and international business centre by virtue of its geographic location, generous taxation incentives, modern transport and telecommunications infrastructure and other advantages, and is now considered a natural hub for doing business with the Middle East, the EU, Eastern Europe, the Russian Federation, other jurisdictions of the Commonwealth of Independent States and North Africa,`` he noted.

    He added that, ``since its accession to the EU in 2004, Cyprus has eliminated all investment restrictions and has expedited the implementation of a broad agenda of measures and regulatory reforms aimed at fostering a positive and attractive business environment for both local and overseas investors.``


    An increase in total imports and exports was recorded between January-July 2010 compared to the corresponding period of 2009. According to data by the Statistical Service of Cyprus, total imports/arrivals (covering total imports from third countries and arrivals from other member states) in January-July 2010 amounted to 3.637,2mn euro as compared to 3.294,0mn in January-July 2009.

    Total exports/dispatches (covering total exports to third countries and dispatches to other member states) in January-July 2010 were 636,6mn euro compared to 578,5mn in January-July 2009.

    The trade deficit was 3.000,6mn in January-July 2010, compared to 2.715,5mn in the corresponding period of 2009.

    During July 2010 total imports/arrivals (covering total imports from third countries and arrivals from other member states) valued at 523mn.

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