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Chinese business people briefed on Cyprus' comparative advantages

12/11/2019 13:33

The comparative advantages of Cyprus as an investment and tourist destination as well as a financial, business and maritime hub, that is a member of the EU and is situated in a very important geostrategic position at the crossroad of three continents, were presented during a China-Cyprus Business Forum that was organized on Tuesday in Guangzhou, China.
The Forum was organized by the Cyprus Investment Promotion Agency (CIPA)  and the China Council for the Promotion of International Trade (CCPIT), in the presence of the Cyprus House President, Demetris Syllouris, and the delegation accompanying him during his visit to China, at the invitation of the National People’s Congress.
The Forum was the most numerous one organized so far abroad by CIPA and was attended by 145 delegates. Addressing the Forum, Syllouris said that Cyprus and China base their historical ties on mutual respect and solidarity, qualities which form the basis for strong business partnerships, that are people-centered and lead to higher mutual benefits. He stressed that “the Cyprus House of Representatives is at your side, supporting your commendable efforts to promote trade and investment between our two countries and is ready to help you in your endeavours in any way it can.”
Syllouris said that the Forum was a very significant event in the efforts for the growth of trade and investment between China and Cyprus and the growth of their two economies in general.
He noted that Cyprus and its House of Representatives were supporting Chinese President Xi’s “One Belt-One Road” initiative and understanding both his vision and the enormous prospects. “It is not a coincidence that the House of Representatives took the initiative to sign a Memorandum of Understanding with the National People’s Congress of the People’s Republic of China last year with a special reference to the Belt and Road initiative and ways the two Parliaments can boost economic cooperation in that framework”, he added.
The House President underlined that “the continuous expansion of the productive cooperation between our two countries is a testament that Cyprus considers China as a valuable strategic partner, not only in the political, but also in the economic sphere. New investment opportunities and business collaborations are offered for Cypriot and Chinese entrepreneurs in multiple sectors, including infrastructure, education and research, innovation, the cultural, maritime, tourism and agricultural sectors.”
“Today, we celebrate the transformation of the friendly and close relations between our two countries into a growing bilateral economic cooperation, aimed at tangible results in a great variety of fields. Gatherings such as this, pave the way for new collaborations, fruitful partnerships and long-lasting friendships. And they ultimately contribute to the progress and prosperity of our respective people, who are highly qualified, hard- working and trustworthy, qualities that are certainly valued in the business environment," Syllouris said.
Addressing the event, Vice-Chairman of CCPIT Lu Pengqi noted the importance of tourist exchanges between China and Cyprus and expressed hope that the latter will offer improved visa facilities for Chinese tourists.
Moreover he referred to the potential of promoting Cypriot products as halloumi cheese, olive oil, wine and fruit juices in the Chinese market, while speaking about investments he said that even more Chinese enterprises are now giving attention to the potential of investing in Cyprus in areas such as the maritime sector, infrastructure industry, ports, logistics and transportation.  He also noted that Cyprus is a very important player in the Chinese Belt and Road initiative.
During the Forum CIPA Board member Nicolas Theocharides made a presentation on “Cyprus: A leading and vibrant business center within the EU”, while Theo Parperis of PwC Cyprus, presented the Cyprus regulatory framework and attractive tax regime and their significant benefits for corporates and individuals.
A panel discussion with four business people working in Cyprus followed, focusing on the real return on investment in Cyprus.
The Cypriot delegation, headed by Syllouris, returns home on Wednesday.