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Cyprus News Agency: News in English, 08-07-01

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [03] CCCI - IRAN - VISIT


    The United Nations hope and expect that the two sides in Cyprus will soon move towards full-fledged negotiations UN Secretary General Special Representative to Cyprus Taye-Brook Zerihoun has said at a Ceremony to Mark Start of Renovation of Home for Cooperation of Association for Historical Dialogue and Research.

    ``We, the United Nations family here in Cyprus, are privileged to lend our support to this initiative, which comes at an especially important juncture. As you know we are assisting the Cypriot sides as they move soon we hope and expect, towards full-fledged negotiations,`` he said.

    Furthermore he noted that the leaders of the two communities will come together today for the third time in the United Nations Protected Area since the process was reinvigorated earlier this year.


    The benefits, financial and economic, Cyprus offers to foreign investors were outlined during a business seminar in London, on Monday. Cyprus is determined to maintain the first place, we believe we have, in terms of incentives offered to Foreign Direct Investments (FDI), particularly in the services sector, which contributes 75% in Cyprus` Gross National Product, Cyprus Minister of Commerce, Industry and Tourism Antonis Paschalides told a business seminar in London.

    The seminar entitled ``Cyprus as an international business centre``, was organised by Cyprus Ministry of Commerce, the Cyprus Trade Centre in London, the Cyprus Chamber of Commerce and Industry and the British magazine ``The Banker`` of the Financial Times group and it was attended by more than 100 business and corporate organisations. Outlining Cyprus` advantages, Paschalides referred to the 10% corporate tax Cyprus imposes, which is the lowest in the European Union, the double taxation agreements concluded between Cyprus and 60 other countries as well as the ``excellent`` level of the local banking, legal, and auditing systems.

    Replying to questions, Paschalides stressed that the election of left-wing AKEL General Secretary Demetris Christofias to the Presidency of the Republic is not going to bring any changes in the country`s financial system. On requests to disclose confidential information of persons or companies, the Minister said that the Attorney General is the competent authority to give permission for the disclosure of such information.

    [03] CCCI - IRAN - VISIT

    A delegation of the Cyprus Chamber of Commerce and Industry (CCCI) has recently concluded its first business mission to Iran. According to a CCCI press release, there is ground for great potential for cooperation in real estate and in the export of Cypriot products.

    The delegation comprised Cypriot businessmen, mainly from the construction and the financial sector. Chairmen of the Cypriot and Iranian Chambers, Manthos Mavromattis and Mohammad Nahavandian, met in Teheran, in the presence of the Cypriot Ambassador there. Representatives of the Cypriot and Iranian Stock Exchanges and of the Capital Markets also held meetings.

    During the meetings, they discussed prospects for cooperation, especially in research and the promotion of Iranian high technology products to Cyprus. ``The business mission to Iran was crowned with success, according to CCCI. It is expected that a delegation of Iranian businessmen will reciprocate the visit.

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