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Cyprus PIO: News Update in English, 98-01-20

Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article

From: The Republic of Cyprus Press and Information Office Server at <>

News Update

Tuesday, 20/01/98


  • [01] Russia condemns new "agreement" between Turkey and the Turkish Cypriots
  • [02] Canadian government officials continue their contacts
  • [03] New measures for Stock Exchange investors
  • [04] EU Migration Statistics Meeting in Nicosia

[01] Russia condemns new "agreement" between Turkey and the Turkish Cypriots

The Russian government has reacted against a new agreement signed between Turkey and the Turkish Cypriot illegal regime in the occupied part of Cyprus intensifying the co-operation between the two on the diplomatic and foreign relations level.

As reported by the "Novosti" news agency, Russian Foreign Minister spokesman Valeri Nesteruskin said the "agreement" would inevitably make a solution to the protracted Cyprus problem even more difficult.

"The signing of the 'protocol' for closer co-operation between the Turkish Foreign Ministry and the illegal, secessionist fabrication will undoubtedly make prospects in finding a just and viable Cyprus settlement more difficult, in view of the intense efforts expected in the forthcoming months", Novosti quoted the Russian official as saying.

This "agreement" has caused "ironic comments and sarcastic discussions in international diplomacy", he added, noting it would be difficult for anybody to see how "diplomats" of an illegal regime could represent Turkish diplomacy's interests.

Mr Nesteruskin noted "diplomatic patronage" of Turkish Cypriots by Ankara has been practised for years and was not a recent phenomenon.

The Russian Spokesman stressed that Ankara's attempt was to give special importance to this "agreement" by proceeding to the actual "integration" of the occupied part of Cyprus.

The Russian official said although the international community has condemned these actions, it should now take up its responsibilities in compliance with international law and the explicit resolutions of the Security Council of Cyprus.

The Cyprus government on Monday (19.1.98) expressed satisfaction with the Russian Foreign Ministry's statement. Government Spokesman Manolis Christofides said:

"We endorse fully Moscow's strong reaction to Ankara's decision to sign a co-operation protocol with the so-called foreign ministry of the illegal Turkish Cypriot regime".

[02] Canadian government officials continue their contacts

Canadian Parliamentary Secretary for Foreign Affairs Ted McWhinney and the Canadian government's special representative for Cyprus Michael Bell were received by President of the Republic Glafcos Clerides on Monday, 19.1.98.

Speaking after the meeting, Mr McWhinney stressed the close ties between Canada and Cyprus, noting his country's participation in the UN Peace- keeping force on the island (UNFICYP).

Replying to reporters whether there is coordination of efforts between Canada and the US in regards to a solution to the Cyprus problem, Mr McWhinney said:

"We are always in close contact with the US, they are our closest neighbour but we take the pluralist view that there are many roads to Rome and many ways of solving problems".

Pointing out that Canada pursues it own initiatives, he stressed "they are never in conflict with the UN initiatives or with those of the US".

The Canadian official expressed the view his country "can open up opportunities that perhaps are not always apparent to the other people. That has been our role in international relations", he remarked.

The two Canadian officials were due to continue their contacts on Tuesday and to meet Turkish Cypriot leader Rauf Denktash on Tuesday 20.1.98.

[03] New measures for Stock Exchange investors

The Ministry of Finance has announced measures aimed at increasing the volume of transactions at the Cyprus Stock Exchange.

Finance Minister Christodoulos Christodoulou outlined last week four measures which would act as incentives for foreign and local investors:

With the first measure offshore companies will be allowed to invest in listed companies' stocks, keeping their status as offshore companies.

The second measure provides that the tax rate of companies, which will seek listing within the four coming years, will be cut by 50 per cent, for five years.

The third provides that the cost of acquisition of newly-listed shares, will be partly exempt from tax.

The fourth is that Greek companies will be allowed to seek a CSE listing, which will offer new opportunities to Cypriot investors, the Finance Minister added.

The announcement came after a meeting on Friday (16.1.98) between the Minister and the heads of the Cyprus Stock Exchange (CSE), the Cyprus Chamber of Commerce and Industry (KEVE) and the stockbrokers group.

[04] EU Migration Statistics Meeting in Nicosia

The Steering Committee of the European Union's Med-Migration Project on Migration Statistics is holding a two-day meeting in Nicosia on 19-20 January.

The event is co-organised by the Statistics Office of the European Union, Eurostat, and the Department of Statistics and Research of Cyprus.

Participants include Eurostat officials and representatives of the national statistic offices of five countries; Britain, Italy, Spain, Morocco and Cyprus.

Cyprus is represented by Evros Demetriades, Director of the Department of Statistics and Research, the island's official statistics office.

The main focus of the meeting is to develop and harmonise migration statistics of the participating countries 30 as to facilitate monitoring of international migration patterns.

The meeting comes under the provisions of the Conference of Barcelona on co- operation between the 12 Mediterranean and 15 European states.

From the Republic of Cyprus Press and Information Office (PIO) Server at

Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article
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