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Cyprus PIO: News Update in English, 97-04-02
From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>
News Update
Wednesday, 02/04/97
CONTENTS
- [01] Greece-Cyprus Business Symposium in Athens
[01] Greece-Cyprus Business Symposium in Athens
The promotion of joint economic activities between Cypriot and Greek
businessmen in the Middle East, the Balkans and Eastern Europe was the
subject of a Business Symposium held in Athens on Monday (31.3.97).
The Symposium - under the auspices of Greece's Ministry of National Economy
and sponsored by the Bank of Cyprus in Greece - was organised by the Cyprus
Chamber of Industry and Commerce, the Athens Chamber, the Union of Greek
Chambers of Commerce, the Cyprus Embassy in Athens and Greek commercial
organisations.
Speaking at the Symposium, Cyprus Minister of Finance Christodoulos
Christodoulou stressed that closer co-operation between Greek and Cypriot
businessmen will open roads that will be mutually beneficial and noted that
Greek businessmen can profit from the Cypriot access and familiarity with
the Arab markets, while Cypriot businessmen could benefit from the Greek
experience in the European Union, the Balkans and Central and Eastern
Europe.
The Cypriot Minister also cited a recent decision by the government to ease
restrictions regarding foreign participation in Cypriot business, as an
example of efforts to encourage co-operation.
In a speech by the Cypriot Minister of Commerce, Industry and Tourism
Kyriakos Christophi, read out at the same Symposium, the importance of
Cyprus as an offshore trading centre was illustrated by figures: 200,000
containers were moved through Cyprus, the income from goods re-exported to
Arab countries, Central and Eastern Europe, including Russia rose to 850
million dollars in 1996, compared to 325 million earned from exports of
Cypriots products.
Offshore trading by over 25,000 registered offshore companies on the island
and some 29 offshore Banks earned the economy 380 million dollars which
cooresponds to 4.4% of Cyprus's gross national product.
From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/
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