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Cyprus PIO: News Update in English, 03-07-07
From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>
[01]Monday, 07 July 2003 Cyprus signs agreement for accession to European
Economic Area
[01] Cyprus signs agreement for accession to European Economic Area
The Republic of Cyprus has initialled last week an agreement for its
accession to the European Economic Area (EEA), following the successful
conclusion of negotiations on the enlargement of the EEA, which began in
January 2003. The European Commission, EU member states, the three
countries of the European Free Trade Association (EFTA) which participate
in the EEA (Norway, Iceland and Liechtenstein), as well as the ten acceding
countries, took part in the negotiations.
The agreement provides for, inter alia, the distribution of financial
assistance by the EFTA countries to states entitled to such funds (the
acceding countries, as well as Spain, Portugal and Greece). Cyprus will be
entitled to receive 0.21% of the 120 million Euro per year for the five-
year period from May 2004-April 2009, or 252.000 Euro annually. Furthermore,
the agreement includes a joint declaration relating to the Protocol annexed
to Cyprus' Accession Treaty to the EU, which refers to the suspension of
the implementation of the acquis communautaire in the occupied areas of the
Republic that are not under the Government's control. The Secretariat of
the Council of Ministers will finalise the text of the agreement for
accession to the EEA and invite the ten acceding countries, including
Cyprus, to sign it formally. The ten states will then be called upon to
ratify the accession agreement in order to put it into effect on 1 May
2004. The agreement was initialled, on behalf of the Republic of Cyprus, by
Cyprus' permanent representative to the EU, Ambassador Theofilos Theofilou,
during a ceremony that took place at the offices of the EFTA countries
in Brussels.
From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/
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